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The Saturday event, held at the Palm Beach estate of billionaire Nelson Peltz, will cost donors a staggering $586,000 per couple to attend, according to The Washington Post. The dinner is expected to attract about 30 people and raise more than $5 million for the president and his committee, the Post reported, citing a person with knowledge of the gathering.
Peltz, an investor worth $1.7 billion, according to Forbes, owns a 13-acre beachfront estate that was worth $94.9 million in 2014, the Palm Beach Post reported. On the guest list are Ike Perlmutter, chairman of Marvel Entertainment and a friend Trump's, and Louis DeJoy, fundraising chair for the 2020 Republican convention.
Other pricey gatherings have been planned as the November election approaches.
Next week, Trump will travel to California to attend a fundraiser at Oracle Chairman Larry Ellison's Palm Springs golf course and estate, according to The Desert Sun. The Rancho Mirage event is scheduled to take place on Feb. 19, less than two weeks away from California's Super Tuesday primary. Thirteen states will join California in casting their ballot on March 3.
For $100,000, supporters can join the golf outing and have their photo taken with the president. For $250,000, contributors receive a photo, golf outing and can participate in a roundtable discussion, the Desert Sun reported. Both options are for couples.
Ellison, who backed Florida Sen. Marco Rubio during the 2016 Republican primary, is one of the few tech moguls to publicly back Trump.
Contributions from the event will go to "Trump Victory," a joint fundraising committee formed by the Trump campaign, the Republican National Committee and 11 state party chapters. The largest contributions will go toward Trump's primary and general election accounts, the RNC, state parties, and also go toward bankrolling the Republican National Convention, the Sun reported.
Trump's campaign ended the year with nearly $103 million cash on hand, compared to the combined $64 million raised by Democratic hopefuls Bernie Sanders, Joe Biden, Elizabeth Warren, Pete Buttigieg, Amy Klobuchar and Andrew Yang, according to Federal Election Committee filings.
In January, Trump's reelection campaign and the RNC brought in more than $60 million, amid the impeachment battle on Capitol Hill, with more than $200 million in cash.
It's not unusual for the incumbent to out-earn the opposition — especially when the challenger's primary field is so crowded.