Analysis: Unveiling the true cost of Trump's lavish donor event

Join me in exploring the exclusive fundraising event that took place at billionaire John Paulson's luxurious Palm Beach, Florida home this weekend. Over 100 wealthy individuals were on the guest list for this special occasion.

Dean Obeidallah

Dean Obeidallah

The event organized by CNN raised over $50 million for Donald Trump's 2024 White House campaign. Trump's wealthy supporters paid between $250,000 and $824,600 per person to participate in different roles. Those who donated at the highest level had the privilege of sitting at Trump's table during dinner.

In more normal times, there would be nothing particularly remarkable about this kind of high-priced fundraiser. Trump, however, is anything but a conventional Republican candidate. He tried to stay in power after losing the 2020 election and now faces several serious charges.

Trump's wealthy and well-respected donors, like Paulson, are likely aware of his actions, yet still choose to donate large amounts of money to someone who tried to disrupt the peaceful transfer of power, a key principle of our democracy.

Paulson and the other wealthy donors who attended Saturday night’s event must be aware that Trump watched the January 6 attacks unfold on television without taking action for over three hours, ignoring pleas to stop his supporters. He even ignored his aides and a family member.

They may also know that since leaving the White House, Trump has praised the January 6 attackers, kicking off his campaign rallies with a recording by the “J6 Prison Choir.” Additionally, he has promised to pardon those convicted of crimes related to the Capitol siege, including assaulting police officers.

Screens displaying Truth Social stock information outside the Nasdaq MarketSite in New York, US, on Tuesday, March 26, 2024. The stock market bounced back, with traders adjusting their positions in the final few days of a banner quarter. Photographer: Yuki Iwamura/Bloomberg via Getty Images

Stock information for Truth Social being shown on screens outside the Nasdaq MarketSite in New York, US, on Tuesday, March 26, 2024. The stock market showed improvement as traders made changes to their investments in the last days of a successful quarter. Photo credit: Yuki Iwamura/Bloomberg via Getty Images

Yuki Iwamura/Bloomberg/Getty Images

Related article

It doesn't make sense that Trump Media is valued at a billion dollars. The attempt to disrupt our democracy included violent groups such as the Proud Boys, a right-wing extremist group. The leader of the Proud Boys was found guilty of seditious conspiracy for his involvement in trying to disrupt the peaceful transfer of power on January 6th.

These wealthy individuals didn't let any concerns stop them from generously donating to Trump's presidential campaign. Their fundraiser took place shortly after a Democratic fundraising event for President Biden, which raised around $25 million. Among the donors at Trump's fundraiser were Robert Mercer, Rebekah Mercer, Harold Hamm, and Steve Wynn.

If these wealthy donors were paying attention at the fundraiser, they might have heard about the Colorado Supreme Court's ruling in December, which stated that Trump had been involved in an insurrection. Although the US Supreme Court allowed Trump to remain on the 2024 ballot in Colorado, it did not overturn the state court's decision regarding Trump's role in the insurrection.

Trump’s donors may have heard reports about the former president making controversial statements, such as comparing immigrants to "poison" and expressing admiration for dictators. Despite this, they still donated generously to support his campaign.

I don't believe that the wealthy attendees of Trump's recent fundraiser can be compared to the average Americans who have fallen for his false claims about the 2020 election being rigged. It seems likely that this elite group of supporters is fully aware of the former president's actions and intentions.

It is very likely that Paulson reconsidered his support for Trump in 2024. During the 2024 campaign, Paulson even helped raise funds for Ron DeSantis, Trump's GOP primary opponent, despite previously making significant donations to Trump in 2016 and 2020.

Related article

Opinion: Why Democrats shouldn’t throw Speaker Johnson a lifeline

However, everything changed when it became evident that Trump would secure the GOP's nomination for president. Recently, Paulson expressed his support for President Trump's re-election campaign during a discussion with CNN prior to the fundraiser. He stated, "I am pleased to back President Trump in his re-election bid," highlighting the benefits he sees in Trump's policies regarding the economy, energy, immigration, and foreign affairs.

Interestingly, Paulson failed to mention the Trump tax cut implemented in 2017, which significantly favored the wealthy, a group that includes Paulson and the other attendees at the Saturday dinner.

Are these extremely wealthy individuals ignoring the threat that Trump poses to the rule of law in our country? Could it be that they are hoping for policies that will increase their wealth? Or maybe they understand the danger Trump presents to our republic, but have chosen to support him anyway.

It's possible that they see themselves benefiting as wealthy allies of an autocratic leader. In countries like Hungary, led by Trump's ally Viktor Orban, his close associates have profited from his leadership through lucrative contracts. This pattern is also evident in Russia under Vladimir Putin, where oligarchs who supported him became even richer - until they crossed him, leading to some being exiled or facing suspicious circumstances.

Get Our Free Weekly Newsletter

Sign up for CNN Opinion’s newsletter

Join us on Twitter and Facebook

Chuck Collins, director of the Project on Inequality and the Common Good at the Institute for Policy Studies, strongly criticized Trump's wealthy supporters shortly after the January 6 attack. He mentioned that they funded Trump's campaigns, supported tax cuts, deregulation, and biased court appointments.

Liz Cheney, a conservative former US Representative from Wyoming and former Republican member of the House GOP leadership, recently cautioned Americans about the potential danger of Trump returning to power. She warned that we could be unknowingly heading towards a dictatorship. If Trump does regain power, we can point fingers at some of his wealthy supporters who financially backed his campaign. These supporters are aware of the risks but seem to prioritize their own financial interests over the well-being of our democracy.

Editor's P/S:

The article highlights the troubling behavior of wealthy individuals who continue to support Donald Trump's political ambitions despite his actions that threaten the foundations of American democracy. The attendees of the lavish fundraiser at John Paulson's Palm Beach mansion, who donated exorbitant sums