Trump set to take in record fundraising haul

During the 2016 presidential election, Donald Trump was outspent by a significant margin. However, if recent fundraising numbers are anything to go by then history isn’t going to repeat itself. 

This past Saturday, the president attended a high-dollar fundraiser in Florida. According to a report by The Washington Times, the event was held at the home of billionaire Nelson Peltz.

It featured donations of over half a million dollars and was expected to raise some $10 million in cash, both for Trump’s campaign as well as the Republican National Committee.

Trump has been building his 2020 war chest for some time, raising $125 million in the third quarter of 2019 alone, a $20 million increase over the previous quarter.

Small-dollar success

While Pletz and other wealthy donors have been crucial to that effort, Trump has also had great success courting small-dollar contributors.

The New York Times reported last July that over a third of the contributions the president had raised up until that point had come from those contributing $200 or less.

“That is a significant increase over the first three months of the year, both in total fund-raising and in the proportion of funds from small donors,” the paper stated.

Still, many on the left remain critical of Trump’s fundraising success. Among them is Fred Wertheimer, president of the Soros-backed progressive group Democracy 21. What’s more, the president isn’t Wertheimer’s only target.

“The ability of Trump to raise these astronomical amounts of influence money from billionaires and multimillionaires is a direct result of the Supreme Court’s utter failure to understand the nation’s campaign finance laws or the implications of its decision,” Wertheimer said in an article he posted to Medium.

He later added, “In remaking the nation’s campaign finance laws, the Supreme Court has done grave harm to the American people and to the goal of preventing political money corruption in Washington.”

Rich Democrats

However, Trump isn’t the only one with access to significant resources. In the Democratic field, billionaire Tom Steyer and Michael Bloomberg have each spent hundreds of millions on their respective campaigns.

According to Fox News, Bloomberg has spent $338 million since officially entering the race in November, and with an estimated personal net worth of over $64 billion, he can afford to shell out a lot more.

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