Donald Trump's campaign reported raising more than $50 million in Florida.
While in some countries spending huge sums on campaigns may not be something to be proud of, in the US it is often a point of bragging rights for political candidates.
And this year, fundraising is as important as ever, as the November 5 presidential election is likely to be the most expensive election cycle in US history.
The former Republican president and the current Democratic president have been trying to compete for months, bragging about each new significant infusion of money.
Biden, 81, raised the stakes in late March when he headlined a huge event in New York with former presidents Barack Obama and Bill Clinton at his side, raising at least $25 million, a record his team said.
But the 77-year-old Trump's campaign said he doubled that figure at the event at the Palm Beach home of hedge fund billionaire John Paulson, not far from Trump's Mar-a-Lago resort.
In a joint statement with the Republican National Committee, Trump's team said the event raised more than $50.5 million, calling Biden's event last week in New York "disappointing."
Entering the room with his wife Melania by his side, Trump said: "This has been an incredible night before it even started because people wanted to contribute to the cause of making America great again. And that's exactly what happened."
"This overwhelming support demonstrates the enthusiasm in support of President Trump and his policies," said John Paulson for his part.
$814,600 to sit near Trump
The Palm Beach guest list included businessman Robert Bigelow, who amassed a fortune in the hotel industry before starting a space exploration company, and John Katsimatidis, owner of a major grocery chain. Both are big donors to Republicans.
Some of Trump's former GOP rivals were also on the list, including Sen. Tim Scott, tech entrepreneur Vivek Ramaswamy and North Dakota Gov. Doug Burgham.
After suspending their presidential campaigns, the trio have fully endorsed Trump, perhaps aiming for posts in his administration if he manages to return to the White House.
According to the Washington Post, the seat at Trump's table cost $814,600.
Such astronomical sums are used to fund candidates' travel, pay their aides, commission opinion polls and, most expensive of all, buy television ads.
Biden, who portrays himself as a product and defender of the middle class, was quick to criticize Trump's fundraising.
"While Trump is raising money from a bunch of hedge fund billionaires, our grassroots campaign raised $187 million this quarter thanks to people like you," he wrote on X.
Biden's campaign war chest is currently larger than Trump's as the former president faces mounting legal costs stemming from multiple felony charges.
The Biden campaign was happy to point this out, calling Trump "Don the Broker" in a recent statement about the billionaire. /BGNES
