Donald Trump's campaign raises $50.5M at Saturday fundraiser

Former President Donald Trump is raking in the cash and closing the fundraising gap between himself and President Joe Biden despite the many struggles that his campaign has faced in the past few months.

Trump's campaign brought in a record-breaking $50.5 million on Saturday during a fundraiser held at the home of billionaire investor John Paulson in Palm Beach, Florida.

The fundraiser set a new single-event fundraising record and dwarfed the $26 million that Biden’s campaign brought in at his last fundraiser.

The difference is Biden had star power in the form of former Presidents Bill Clinton and Barack Obama. But even two former Presidents couldn't generate the same energy that Trump does leading to Trump lapping Biden.

Chris LaCivita and Susie Wiles, two of Trump's senior aides, issued a statement saying, "It’s clearer than ever that we have the message, the operation, and the money to propel President Trump to victory on November 5."

This haul should alarm Biden's campaign as it demonstrates that the two campaigns are completely different when it comes to energy and fundraising.