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Megadonor says Biden’s star-studded NYC fundraiser is actually a ‘bad sign’

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Biden headlined a $25 million fundraiser at Radio City Music Hall in New York with former Presidents Obama and Clinton.

A Republican donor said while Biden will raise a lot, having the former presidents and celebrities there shows he needs help attracting donors and entertaining audiences.

The donor questioned how much Biden could raise on his own without the star-studded guests.

“Having the celebrities there and having the former presidents there says a lot about Biden’s effort to be able to raise money on his own,” Point Bridge Capital founder Hal Lambert said.

“I don’t think he would come close to that number of $25 million had he not had all the celebrities and not the former presidents there.”

“I think it’s difficult for him to do at this point. I actually think it’s a bad sign,” he said.

Biden’s event featured a discussion between the presidents moderated by Stephen Colbert and hosted by Mindy Kaling.

The donor expects an upcoming Trump fundraiser will also raise $25 million but Trump is doing it without celebrity or former president partners.

“He’s going to have over $25 million raised in his fundraiser, and he doesn’t have anybody else showing up there that are superstars to help him raise it. He’s doing it on his own,” he said.

While Biden may outraise Trump this quarter, the donor credited Trump being the sole GOP nominee for bringing in more Republican funds going forward.

“[That] is why people are probably wondering, ‘Well, how does someone give a half-million dollars?’ Well, they go through all these committees and there’s ways to do it once you’re the nominee. Biden’s the nominee. He can do it. Trump can now do it as well,” Lambert said.

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