Trump's fundraising totals surge amid ongoing partisan prosecution efforts against him

 June 8, 2024

Former President Donald Trump was convicted last week in a politically motivated criminal case in New York, but that development appears to be of little concern to at least a handful of wealthy donors in California's Bay Area who have now thrown their financial support behind the presumptive GOP nominee seeking re-election.

As part of a bold West Coast fundraising swing over the weekend, Trump reportedly raised around $12 million during a Thursday night event at the San Francisco home of Silicon Valley tech entrepreneur and investor David Sacks, who recently decried the "selective and unprecedented prosecutions" against the former president, according to the Washington Examiner.

The successful fundraiser event follows reports that the Trump campaign and Republican National Committee jointly raised more than $141 million in May, including more than $50 million in the immediate 24 hours after the guilty verdict was issued by the New York jury.

Reported $12 million in donations at Silicon Valley fundraiser

Former President Trump spoke to a crowd of around 100 wealthy donors Thursday night at the Pacific Heights home of Sacks for an event that charged $50,000 to attend a reception and get a photo and $300,000 per individual -- $500,000 for a couple -- to attend a special dinner.

RNC member and California attorney Harmeet Dhillon was in attendance and said in an X post, "$12M raised tonight! Incredible support for @realDonaldTrump. Not an empty seat in the gorgeous home of @DavidSacks and Jacqueline. Thrilled to see the tech leaders stepping up!"

In follow-up posts, Dhillon observed that Trump was "relaxed, happy, and cracking jokes" during his remarks and that there were "many crypto leaders in the house," suggesting broad support among the emerging cryptocurrency industry for the former president.

Massive fundraising haul for the Trump campaign

The Examiner noted that, at least until April, President Joe Biden's campaign and Democrats had been outraising their counterparts at the RNC and Trump campaign since the beginning of the election cycle, though that appears to have since changed.

In a May 31 press release, the Trump campaign revealed that it had raised nearly $53 million in the 24 hours that elapsed following the guilty verdict in New York, with a majority of those funds coming from small donor donors and roughly one-third coming from new donors.

Just a few days later, the campaign announced on June 3 that, in conjunction with the RNC, more than $141 million was raised for Trump's re-election bid in May, with a record of more than two million individual donors and an average donation of around $70, with around 25% of those donors being new contributors to the campaign.

That announcement further noted that unaffiliated outside organizations supporting Trump's campaign also reportedly raised more than $150 million in May, bringing the combined monthly total to nearly $300 million.

The Examiner also reported that in addition to the Thursday fundraiser in San Francisco, Trump was also scheduled to speak to donors at events over the weekend in Los Angeles, Beverly Hills, and Newport Beach, as well as that he was increasingly receiving financial and public support from a growing number of wealth business and tech leaders who'd otherwise kept their money on the sidelines or previously backed Democratic candidates.

Reasons for backing Trump

As for David Sacks, he revealed his financial support for and endorsement of former President Trump in a lengthy X post on Thursday that outlined the four main reasons why he had decided to back the Republican challenger over the incumbent Democratic president.

The first reason was the economy, which he noted was strong under Trump but has declined under Biden, followed by foreign policy and the Ukraine War, which he asserted have been critically mishandled by Biden's administration, as well as Biden's open border policies that have resulted in the destabilizing influx of millions of illegal migrants, crime, and drugs.

The final reason listed by Sacks was the "lawfare" waged by the Biden administration and how Americans historically "don’t accept attempts to jail political opponents in order to win an election. Yet Biden has pushed for selective and unprecedented prosecutions of his once and future opponent from the moment he assumed office."

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