On February 16th, former President Donald Trump held a fundraiser at Mar-a-Lago resort in Florida. Despite the recent court ruling ordering him to pay a $454 million fine, the event was attended by big sponsors who received hats with the words “Make America Great Again” and drank Trump Meritage wine. The proceeds from the event were used to pay Mr. Trump’s lawyers, and supporters saw a new ad on Facebook linking to a donation page that read “they’re not after me, they’re after you.”
Despite leading President Joe Biden in most public opinion surveys, Mr. Trump’s campaign is lagging behind his Democratic opponent’s fundraising efforts. Groups supporting Mr. Biden entered 2024 with about $118 million in accounts while Mr. Trump has $66 million as of the end of February. As of now, Mr. Biden’s campaign team and the Democratic National Committee (DNC) raised twice as much money as Mr. Trump and the Republican National Committee (RNC).
Mr. Trump has sold items like T-shirts with photos of his prison record and helped raise funds for pro-Trump groups through various means. Billionaires and traditional Republican donors are being courted by Mr. Trump’s campaign team, but his lack of funds could affect how he approaches the election. He is trying to attract both traditional Republican donors and his loyal base of small donors while also exploring options for new billionaires who are skeptical of his legal troubles.
The decision of top Republican donors will indicate whether they believe Mr. Trump will win in the 2024 election or not. Some are considering supporting him while others are looking at third-party options or staying out of the race entirely
