US President Joe Biden is poised to hold an unprecedented fundraising event in New York City, featuring former Presidents Barack Obama and Bill Clinton, aiming to secure over $25 million for his reelection campaign.
This amount is projected to set a new record for fundraising at a single political event, as the Biden campaign seeks to widen its financial advantage over Republican contender Donald Trump.
With the presidential race appearing highly competitive, the event at Radio City Music Hall follows Biden’s efforts to rally support in crucial swing states. The President’s recent State of the Union Address garnered positive feedback from his party, although his overall approval ratings have seen only a modest improvement.
In contrast, Trump was also in New York attending the wake of slain NYPD Officer Jonathan Diller. Meanwhile, the Biden campaign boasts a substantial financial reserve of $155 million, significantly surpassing Trump’s reported $74 million.
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The fundraiser is expected to draw over 5,000 attendees, with additional viewers online, featuring a moderated conversation by Stephen Colbert with Biden, Obama, and Clinton. The evening will include performances by renowned artists such as Lizzo, Queen Latifah, and Lea Michele, with an exclusive after-party hosted by First Lady Jill Biden.
Ticket prices for the event range from $225 to $500,000, with high-tier donors receiving a photograph with Biden, Obama, and Clinton, captured by celebrated photographer Annie Leibovitz.
Biden’s fundraising momentum is attributed to his uncontested position within the Democratic Party, allowing him to consolidate donor support without facing primary challengers. Despite Trump’s fundraising efforts, his campaign has been burdened by significant legal expenses.
Trump criticized the Democratic fundraiser in a campaign email, accusing Hollywood liberals of supporting what he perceives as the country’s destruction.
As Biden focuses on legislative achievements and outreach to crucial voter blocs, Trump has maintained a relatively low political profile amid legal battles. The 2024 election cycle is anticipated to be the costliest yet, highlighting the escalating financial stakes in presidential campaigning.
