Scoop: Trump's $2 billion fundraising binge
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President Trump has raised about $1.9 billion from an array of corporate donors to help finance his political committees, White House construction projects and celebrations of the nation's upcoming 250th anniversary, sources tell Axios.
Why it matters: No president has raised so much money, so quickly, for so many different reasons. And there's more to come, aides say.
- "The midterms are paid for," a source briefed on Trump's fundraising operations told Axios.
- "He's been at this since taking office and he's not stopping."
Zoom in: Trump's second-term fundraising began with his inaugural ball, transitioned to his MAGA Inc. super PAC and Secure America political nonprofit, and then focused in recent months on the new ballroom and White House renovations.
- "He over-fundraised for the ballroom, about $350 million," a second source said.
- The money flowing toward Trump's projects comes from a who's who list of top corporate donors, drawing criticism and raising ethics concerns.
What's next: Trump's obsession with the ballroom and White House renovations is giving way to a focus on building a new arch at the entrance to Washington at the terminus of the Memorial Bridge, which leads to Arlington National Cemetery.
- The arch's estimated cost: $100 million.
- "It's what he's talking about," said a confidant who spoke with the president recently as he considered models of differently sized arches.
- "There's a small arch. A middle arch. A large arch. And he likes the large one, of course, as long as it's big and gold and white."
Inside the room: Trump's unquenchable thirst for fundraising has stretched him thin at times.
- On Saturday, just two days after returning from a grueling multistop trade mission to Asia, he held a fundraiser at Mar-a-Lago and pulled in an estimated $10 million, an adviser said.
- "He was exhausted. But he just wanted to keep going. After dinner, he played DJ on the patio," the adviser said, noting that Trump had played golf earlier in the day, hours after a Friday night Halloween ball from the night before.
- "$10 million used to seem like a lot of money. Now it's like a ho-hum night."
What we're watching: With the nation's 250th birthday approaching next July 4, Trump will probably squeeze more donors for the semiquincentennial celebration.
- "Donors should get ready," the confidant said. "He's coming for more. Sky's the limit."
