Home US Donald Trump is concerned Joe Biden’s $130m war chest dwarfs his $40m as former president faces cash crunch over $540m bond payments and Republican donors pledging seven-figure amounts ‘are nudged to go above $10m’

Donald Trump is concerned Joe Biden’s $130m war chest dwarfs his $40m as former president faces cash crunch over $540m bond payments and Republican donors pledging seven-figure amounts ‘are nudged to go above $10m’

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Donald Trump is struggling to raise money as the Republican National Committee only has $40 million in the bank

Donald Trump is struggling to catch up to President Joe Biden’s massive fundraising advantage with just eight months until the election.

The Republican National Committee has just $40 million in the bank, compared to the $130 million Democratic operations had last month.

The huge gap in funding is growing steadily as Democrats open their wallets to support Biden’s campaign to keep the White House.

Democrats raised more than $10 million in the 24 hours after the State of the Union last Thursday, far higher than Trump’s biggest day, when he raised $4.2 million after his mugshot in the Georgia election fraud case was released.

Donald Trump is struggling to raise money as the Republican National Committee only has $40 million in the bank

Donald Trump is struggling to raise money as the Republican National Committee only has $40 million in the bank

Joe Biden has $130 million to work with so far and is raising money much faster

Joe Biden has $130 million to work with so far and is raising money much faster

Joe Biden has $130 million to work with so far and is raising money much faster

In addition, the Service Employees International Union planned to spend $200 million to convince working-class Americans to vote for Biden and other Democrats.

Trump is trying to close the gap by gobbling up as many rich donors as he can and entertaining at Mar-a-Lago three nights a week, New York Times reported.

Oracle founder Larry Ellison and sugar tycoon Pepe Fanjul are among those who have been wined and dined at the Palm Beach resort in Florida in recent months.

Mar-a-Lago will also host an expensive dinner early next month to launch a new joint fundraising account that it hopes will raise at least $25 million.

Trump has also taken steps to promote his donors and supporters and make them feel important at his campaign events.

A special room for big donors to mingle was set up at Mar-a-Lago on Super Tuesday last week, and Trump stopped by to thank them.

They included Trish Duggan, a Florida philanthropist who gave Trump’s campaign more than $5 million.

Trump thanked former billionaire casino owner Steve Wynn and hedge fund manager John Paulson in his New Hampshire primary victory speech.

Then he put New York Jets owner Woody Johnson, whom he made ambassador to Britain during his presidency, on stage with him after the South Carolina vote.

Trump put New York Jets owner Woody Johnson, whom he made ambassador to Britain during his presidency, on stage with him after the South Carolina poll

Trump put New York Jets owner Woody Johnson, whom he made ambassador to Britain during his presidency, on stage with him after the South Carolina poll

Trump put New York Jets owner Woody Johnson, whom he made ambassador to Britain during his presidency, on stage with him after the South Carolina poll

Johnson is joined by Donald Trump at a New York Jets' Kickoff Luncheon

Johnson is joined by Donald Trump at a New York Jets' Kickoff Luncheon

Johnson is joined by Donald Trump at a New York Jets’ Kickoff Luncheon

In another sign that he wants to boost fundraising, Trump and his allies staged a coup to take over the RNC, installing his daughter-in-law Lara as co-chair.

About 60 employees were laid off or forced to reapply for that job in a bloodbath days after Lara Trump was unanimously elected on March 8.

Trump’s team is struggling to attract new wealthy donors and is asking those who have already pledged seven-figure sums to increase their contributions to more than $10 million, according to the New York Times.

“He (Trump) understands that the only advantage the Biden campaign has is financial resources … and he understands that we have to do everything we can to negate that,” said Republican lobbyist Brian Ballard.

A big part of the problem is donors who fear their cash will be used to pay Trump’s mounting legal bills and court rulings.

The former president was ordered to post a $91.6 million bond after being found responsible for defaming author E Jean Carroll while his appeal plays out.

He also faces a deadline to post a $450 million bond in the New York civil fraud case against his companies after losing in court last week.

Trump’s massive legal bills are still mounting both from those cases and his 91 criminal charges in various cases — which were reduced slightly after a judge dismissed several of the voter fraud cases in Georgia on Wednesday.

He has used his Save America PAC to pay the legal fees, but that fund is nearly empty and he will soon have to find other ways to pay his bills.

Trump’s advisers insisted that RNC funds would not be used to pay his personal expenses, but his PACs are a different matter.

Many potential donors are also hesitant to contribute after receiving blowback for supporting the controversial candidate in 2016.

Trump met with billionaire TikTok investor Jeff Yass and Tesla and Twitter owner Elon Musk, but neither is known to have donated.

“Just to be super clear, I am not donating money to any of the candidates for US President,” Musk wrote on Twitter on March 6.

Trump greets supporters at one of many fundraisers at his Mar-a-Lago resort

Trump greets supporters at one of many fundraisers at his Mar-a-Lago resort

Trump greets supporters at one of many fundraisers at his Mar-a-Lago resort

Donald Trump attends a Hawaii-themed fundraiser accompanied by Eric and Lara Trump. The fundraiser benefits Curetivity and is hosted by Dr. Peter Lamelas

Donald Trump attends a Hawaii-themed fundraiser accompanied by Eric and Lara Trump. The fundraiser benefits Curetivity and is hosted by Dr. Peter Lamelas

Donald Trump attends a Hawaii-themed fundraiser accompanied by Eric and Lara Trump. The fundraiser benefits Curetivity and is hosted by Dr. Peter Lamelas

Longtime Republican financier Ken Griffin is also holding out after endorsing Trump’s defeated opponent Nikki Haley, but may donate in the future.

‘Can I just have a moment to be sad that Nikki isn’t in the race?’ he said at a conference in Florida this week.

A person close to Yass told the NYT that he plans to make a seven-figure donation, but did not say where the money would go.

Donors who don’t want their names associated with Trump can give to more shadowy organizations that don’t have to disclose contributors.

Ultimately, while Trump is concerned about the funding gap, his allies believe they will come up with enough to win the election.

“Hillary Clinton out-raised President Trump, but he connected with the American people, and that was the difference right there,” former RNC co-chair Tommy Hicks Jr. said. to NEW.

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