The campaign team for former President Donald Trump announced a record-breaking achievement, claiming to have raised over $50 million during a GOP fundraiser held on a Saturday night in Palm Beach, Florida. This event reportedly set a new fundraising record for both Republican and Democratic candidates.

Campaign spokesperson Danielle Alvarez highlighted the achievement by comparing it to the combined efforts of three Democratic presidents who raised $25 million, emphasizing Trump's single-handed effort to surpass $50 million.

The fundraiser was hosted by John Paulson, a billionaire hedge fund founder, at his private residence in Palm Beach. The event boasted a guest list of around 100 influential figures, including casino magnate Steve Wynn, Bigelow Aerospace's Founder and President Robert Bigelow, and former U.S. Commerce Secretary Wilbur Ross.

As Trump arrived at the fundraiser, he expressed his enthusiasm about the support for his campaign, emphasizing the goal of "making America great again."

Despite the success of the event, Trump's campaign still faces a significant fundraising gap compared to incumbent President Biden, who reportedly has around $192 million available, compared to Trump's $93 million.

Meanwhile, President Biden's campaign also reported a successful fundraising event at New York City's Radio City Music Hall, raising over $26 million in an event featuring former Presidents Barack Obama and Bill Clinton. This was described as a historic amount for a single fundraiser.

Trump's "Inaugural Leadership Dinner" marks a strong signal of resurgence in fundraising efforts for both him and the Republican Party. Initially, Trump faced challenges in attracting large donors at the start of his campaign. However, as he began to secure wins and emerge as the presumptive Republican nominee, support within the GOP consolidated around him.

The fundraiser contributions are directed to the Trump 47 Committee, a joint fundraising effort including the Republican National Committee, state Republican parties, and Save America, a political action committee responsible for the majority of Trump's legal expenses. The donation structure prioritizes Trump's campaign and Save America, with the RNC and state parties receiving funds afterward.

Guest contributions were set at significant amounts, with options for direct engagement with Trump, including a seat at his table and a photo opportunity, along with a personalized copy of his photo book, "Our Journey Together." The event also featured special guest appearances from three of Trump's former GOP nomination rivals.

This report includes contributions from The Associated Press.