Trump Raises $12 Million at San Francisco Fundraiser Where Top Tickets Sold for $500,000

Republican Presidential candidate Donald Trump reportedly raised $12 million on Thursday, at an event hosted by two tech venture capitalists in San Francisco. In a mostly liberal state, Trump sold out the event and drew significant attention from some of the biggest names in the tech industry, per Reuters. The event’s top tickets were sold for $500,000 which provided special privileges to the VIP guests.

This comes just over a week after Trump was convicted on 34 counts in a wide-ranging hush money trial. Despite that, the former president is making a fundraising swing through the West Coast and an opinion swing across the states.

Premium Tickets, Perks for Attendees

The event was hosted by husband-and-wife duo, David and Jacqueline Sacks, along with Chamath Palihapitiya. The reception and gala dinner were held at the Sacks’ home in the city’s exclusive Pacific Heights neighborhood, Reuters who reviewed the invitation reported.

David Sacks is a prominent venture capitalist and part of the “PayPal mafia,” (a group of PayPal employees and founders). His co-host, Chamath Palihapitiya, is the founder of investment firm Social Capital. They are also two of the four hosts of the popular "All-In" podcast.

Top tickets for the private event which included perks like a photo with Trump, and access to the host committee went for $500,000 per couple. The fundraised raked in some $12 million, according to Republican National Committeewoman Harmeet Dhillon.

“President Trump is relaxed, happy, and cracking jokes about AI,” Dhillon posted on X.

As per the news agency, among the attendees were executives from the crypto exchange Coinbase, and crypto investor twins Tyler and Cameron Winklevoss. As per another report, Trump pitched himself as the Crypto President at the event.

Trump’s Crypto Campaign Rally

Much of Trump’s 2024 election campaign has focused on the disdain for the policies of President Joe Biden. Under the current administration, the SEC has taken measures against cryptocurrencies and Biden’s antitrust regulators have cracked big tech companies.

In the Reuters report, Trevor Traina, a San Francisco-based tech executive and former Trump ambassador to Austria, said regulations during Biden's presidency had alienated some people in the tech industry.

Thus, Trump is turning his focus to pitch himself as a pro-tech candidate. He is finding success too because San Francisco where his event raised millions, is a predominantly liberal city, and Biden and Vice President Kamala Harris had a stronghold.

The crypto industry is increasingly trying to influence Washington as it faces heightened scrutiny from regulators, thus, Trump rallying their support could be significant for his campaign.

Trump’s Conviction and Its Impact on His Campaign

On May 30, Trump was found guilty on 34 counts of falsifying business records related to a hush-money case. Trump allegedly paid money to adult-film actress Stormy Daniels before the 2016 presidential election to hush out a sexual assault which she claims happened in 2006.

The ex-president denies the claim and maintains his innocence and the verdict could be challenged in the New York Court of Appeals or the U.S. Supreme Court, as per the New York Times.

While Trump suffered some blows in public opinion after his guilty verdict, his overall support seems to remain strong.

According to the June 2, poll conducted by The Economist/YouGov support for Biden and Trump was tied at 42% each. The survey of 1,565 registered voters found that the majority of voters did not reconsider their vote after the conviction, as only 8% said that the conviction matters.

The trend was seen in another national poll conducted by Morning Consult as well. In fact, in this poll of 10,404 registered voters, Trump held a 1-point lead over Biden, (44% to 43%).