Washington (National Times): After a record-breaking fundraiser hosted by US President Joe Biden collecting a whopping $26 million, former commander-in-chief and Republican candidate Donald Trump has also carved out his plan to defeat his rival.

Donald Trump — who is facing four indictments — has planned a fundraising event Saturday next week in Palm Beach, Florida, The Hill reported Friday.

The event will be hosted by a hedge fund founder John Paulson, in which the Republican team is eyeing to raise $33 million, breaking the record set by Joe Biden at Radio City Musical Hall in New York City.

“The response to our fundraising efforts has been overwhelming, and we’ve raised over $33 million so far. There is massive support amongst a broad spectrum of donors. The dinner is relatively small in nature, and we are almost at our cap,” a statement by Paulson read.

The 81-year-old Biden’s team has a considerable lead in terms of campaign money as the filings showed that he amassed $155 million cash. In February he secured $53 million.

Trump’s campaign and joint committee raised $20.3 million in February and entered March month with a combined $41.9 million cash on hand, according to CNN.

The former president has been facing a massive financial crunch amid over $55 million going into his legal fees since early 2023.