Trump says he raised $50M from biggest fundraiser yet

Republican presidential candidate Donald Trump's campaign said a major fundraiser in Florida on Saturday raked in a massive $50.5 million as the former president seeks to replenish diminished coffers in his rematch against Democrat Joe Biden.

The event, his biggest fundraiser yet, is a much-needed boost for Trump, who has been routinely outraised by Biden and is in the midst of a financial squeeze due to ballooning lawyer fees and legal payouts from his criminal and civil court cases.

The dinner, hosted at billionaire hedge fund manager John Paulson's Palm Beach home, will allocate a portion of the money to be raised to a fundraising group that has spent tens of millions of dollars on Trump's legal fees.

While Trump has struggled to get some major traditional Republican donors on board, he retains the support of some heavy hitters. Co-hosts on Saturday, for example, include hedge-fund investor Robert Mercer and his daughter and conservative activist Rebekah, investor Scott Bessent, and casino mogul Phil Ruffin, according to the fundraiser invitation seen by Reuters.

"People are just wanting change. Rich people want it, poor people want it," said Trump in comments ahead of the fundraiser, flanked by his wife Melania Trump, who has largely stayed away from the campaign trail so far.

Biden spokesperson Ammar Moussa said on social media site

X that billionaires had flocked to Trump's event due to tax preferences. "The ultra-wealthy are really mad at Joe Biden for making them pay their fair share," he posted.

Paulson has been floated by Trump as a potential Treasury secretary, according to two sources. Bessent has also been floated for the role, one of those sources said.

In a statement on Saturday, Paulson said the "overwhelming support" at the dinner, which 100 guests were expected to attend, was a sign of enthusiasm for Trump.

For Trump, "it will be important to figure out ways to continue this fundraising momentum with a combination of large/small dollar events," said Republican strategist Ron Bonjean.