Donald Trump raises $50m as fundraising war with Joe Biden heats up

Donald Trump raised $50.5 million at a fundraiser in Florida, on Saturday, as he gears up for a rematch with Joe Biden, AFP reported.

The US Elections 2024, which will take place on November 5, are expected to be the most expensive presidential elections in its history.

The Republican former president and the Democratic president have been working fulltime to outrace each other for months, bragging about each new significant cash infusion into their election campaign.

Biden, 81, headlined a huge event in New York, in March with former presidents Barack Obama and Bill Clinton, raking in an estimated $25 million.

Trump, 77, labelled Biden’s fundraising "desperate," claiming his event raised more than $50.5 million.

The dinner was hosted by billionaire hedge fund manager John Paulson's at his Palm Beach residence who will allocate a portion of the funds raised to a fundraising group dedicated to covering Trump's legal expenses.

Trump attended the dinner who's one seat cost up to $824,600 per person, with wife Melania, who has mostly kept away from the public eye.

He said, "This has been some incredible evening before it even starts, because people, they wanted to contribute to a cause of making America great again. And that's what's happened."

In a statement, Paulson said: "This sold-out event has raised the most in a single political fundraiser in history. This overwhelming support demonstrates the enthusiasm for President Trump and his policies."