Trump does a 'double up' on Biden campaign's $26 million New York fundraiser with Palm Beach billionaire's dinner

• Donald Trump's campaign said it raised over $50 million at his Palm Beach fundraiser.
• This comes after President Joe Biden's recent New York fundraiser, which raised $26 million.
• Money raised at the gala could help support Trump as his legal bills pile up.

Donald Trump is dining with billionaires Saturday evening, hoping they fund his campaign — and his legal bills.

Trump's campaign announced Saturday that the Palm Beach fundraiser and gala brought in $50 million in donations, the Associated Press reported.

This amount is nearly double what President Joe Biden raised during a glitzy Democratic fundraiser in New York on March 28. The Biden fundraiser broke the record for single-event fundraising, the AP reported, and Trump pointed it out himself on Truth Social Saturday.

"Biggest night in Fund Raising of ALL TIME!!! Will double up the Biden number of last week at Radio City. People are desperate for change. They want to MAKE AMERICA GREAT AGAIN!" Trump wrote on Truth Social ahead of the event, billed as Trump's "Inaugural Leadership Dinner."

Biden's campaign announced Saturday that it had raised $90 million in March and now has $192 million in cash. Meanwhile, the Trump campaign is eager to catch up, with $65.6 million raised in March and $93.1 million on hand.

One source close to the Trump campaign who spoke to the Washington Post on the condition of anonymity said Trump has been "focused" on securing donations. Guests at the gala paid between $250,000 and $824,600 per person, CNN reported.

One person involved with Biden's fundraising who spoke to Axios said that Trump's "getting everyone to max out in April" strategy was unsustainable.

"It's a recipe for being broke in the months that will matter," the person told Axios .

Trump arrived at the gala on Saturday, posing with his wife, Melania , who has been largely missing from his campaign in the past year but is now expected to take on a more active role.

The Palm Beach fundraiser , hosted at the mansion of hedge fund billionaire John Paulson , could support the former president's campaign and mounting legal bills, which include millions in payments to firms defending him in four criminal cases .

Proceeds from the fundraiser will be going to the Save America leadership political action committee , one of the two PACs that have provided funds for Trump's legal matters, CNN reported.

Representatives for the Trump and Biden campaigns did not immediately respond to a request for comment from Business Insider sent outside regular business hours.