Trump is using the court case about secret payments to pressure small donors and attract major sponsors.
Republican presidential candidate Donald Trump is using his hush money trial to appeal to his loyal army of small donors and personally lobby major sponsors, aiming to reduce the significant financial advantage held by Democratic President Joe Biden. His campaign is actively sending out urgent fundraising appeals to small donors—who supported him when he was initially charged in this case last year—since the start of the trial in New York with jury selection on Monday.
“I could be sentenced to life,” read one of the letters this week. “I should be campaigning all over America and fighting for our country. But instead, I’m stuck again in Biden’s corrupt court,” stated another message, even though Trump’s trial is taking place in a New York state court under the Manhattan district attorney, not under the Biden administration. The sentence could reach four years in prison if found guilty, although many who have been convicted of this crime in the past have faced penalties such as probation and fines.
There are signs that Trump's small donor base may be waning, indicating that Trump will have to rely more on big donors ahead of his Nov. 5 runoff against Biden. According to a review of documents filed with the Federal Election Commission, his campaign's largest fundraising group - known as the Trump Save America Joint Fundraising Committee - reported Monday that it raised $33.6 million in the first quarter from donors who gave $200 or less. That's $17 million less than the amount raised from small donors at the same stage in 2020 by Trump's main fundraising group at the time, the Trump Make America Great Again Committee.
Small donors have historically been key sponsors of Trump's election campaigns, and last year they helped him raise $13 million in donations in the week following his indictment in New York. However, after an initial surge in fundraising following his first court appearances last year, donations have slowed down as additional charges have piled up.
Professor of Political Science at Brandeis University, Zachary Albert, who studied small donors, stated that "Trump is tired" after nine years during which the former real estate mogul almost daily turned to them for money. "He has been quite unscrupulous in his appeals," Albert said.
Nevertheless, Albert expects an increase in donations during the trial, as the campaign seeks to leverage supporters' sympathy over what they perceive as an unfair trial for Trump. Trump's campaign has not responded to requests regarding its fundraising strategy. On Saturday, it is expected to present its financial report for March.
Trump's campaign reported raising $10.9 million in February, which is significantly less than the $21.3 million raised according to Biden's reports.
Important point:SPONSOR CALLS, BIG COLLECTIONS - With Biden's financial advantage and Trump's rising legal costs, the latter is increasingly focused on attracting big checks.
Important point:The Republican candidate is increasing the number of events for sponsors, reaching out to supporting funds on the front lines, and utilizing a fundraising operation that has merged with the National Republican Committee.
The Republican candidate is increasing the number of events for sponsors, reaching out to supporting funds on the front lines, and utilizing a fundraising operation that has merged with the National Republican Committee, according to three informed sources.
"The donors he needed to talk to, he was extremely effective in getting big checks and support from them," said one Trump fundraiser, who asked to remain anonymous to discuss confidential conversations.
In the past two weeks, Trump has held meetings with donors in Georgia and Florida. The campaign aims to raise at least $5 million at each event, although another source reported that it cost less than that.
Important point:The event on April 6 at the home of hedge fund manager John Paulson in Palm Beach, reported by the Trump campaign, raised over $50 million and attracted prominent hosts such as hedge fund investor Robert Mercer with his daughter and conservative activist Rebecca, investor Scott Bessent, and casino mogul Phil Ruffin.
Important point:Some of his old Republican backers remain hesitant, taking his volatile personality or the Jan. 6 attack by his supporters on Capitol Hill in Washington as major complications.
Several of them told Reuters that they are refusing due to concerns that their donations will go towards Trump's increasing legal expenses. The fundraising group organized by Trump has spent over $55 million on legal fees since the beginning of 2023.
Another Republican donor said he is ready to support Trump again, but first wants to understand what the National Republican Committee's strategy is for winning battleground states. One fundraising staffer mentioned that Trump's legal troubles, including four criminal cases, have actually motivated some donors to pull out their checkbooks. "These trials are catalysts for phone calls," said George Glass, a former businessman who served as Trump's ambassador to Portugal.
As a sign of how the court has affected Trump's fundraising, this week Trump called from New York to Florida to speak at a meeting of the Rockbridge network, a little-known but influential group of conservative donors, according to a source. (Prepared by Alexandra Ulmer and Jason Lange).
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