The campaign team of former President Donald Trump announced a successful fundraising event in Florida on Saturday, raising a record $50.5 million. 

Donald Trump Campaign Raises a Record $50.5 Million at Florida Fundraising Event

As his campaign works to bridge the fundraising gap between the former president and President Joe Biden, the Associated Press reported that the money raised from the event with major donors at the home of billionaire investor John Paulson in Palm Beach sets a new single-event fundraising record.

This amount also nearly doubled the $26 million raised by Joe Biden's campaign at a recent gathering with former presidents Barack Obama and Bill Clinton at Radio City Music Hall in New York.

Described as the "Inaugural Leadership Dinner," the event signals a resurgence in Trump and GOP's fundraising, which lagged behind Biden and the Democratic Party.

Trump's campaign senior advisers Chris LaCivita and Susie Wiles said in a statement: "It's clearer than ever that we have the message, the operation, and the money to propel President Trump to victory on November 5." 

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Fundraising Efforts of Donald Trump and Joe Biden 

The fundraising race between Donald Trump and the GOP and Joe Biden and the Democrats is being closely watched. Trump and the GOP recently revealed that they raised over $65.6 million in March and closed the month with a total of $93.1 million. In contrast, Joe Biden and the Democrats reported raising over $90 million, with $192 million-plus on hand.

Saturday's fundraising event reportedly hosted around 100 guests, including a few billionaires. However, campaign fundraising reports filed with the Federal Election Commission detailing donations from this event are not expected until a mid-July filing date.

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