Trump campaign raises $20 million in virtual fundraiser

President Trump’s reelection campaign on Tuesday raked in $20 million in its first virtual fundraiser of the 2020 cycle as it works to maintain its breakneck fundraising pace amid the coronavirus pandemic.

The fundraiser, which was hosted by the president’s eldest son, Donald Trump Jr., and Trump Victory Finance Committee National Chairwoman Kimberly Guilfoyle, comes as Democratic rival Joe Biden raises hefty sums from similar online events, cutting into the once gargantuan gap between his and Trump’s campaign bank accounts.

“Trump Victory’s groundbreaking fundraising record proves the American people are passionate about gaining four more years under President Trump’s strong leadership. Across the nation, the silent majority are coming together to donate their valuable time and hard-earned money to help make this President’s re-election a reality,” Guilfoyle said in a statement.

“The most important measure of success in this race is enthusiasm, and the enthusiasm from President Trump’s supporters cannot be matched,” she added.

The Trump campaign said the fundraising total was fueled by 300,000 donors, which would bring the average donation to nearly $67.

Trump Jr. touted the haul, congratulating Guilfoyle on “an incredible day.”

Congratulations ⁦⁦@kimguilfoyle⁩ on an incredible day.

Trump raises $20 million at virtual fundraiser – Axios https://t.co/NqFzuW04gi

— Donald Trump Jr. (@DonaldJTrumpJr) July 22, 2020

The eye-popping figure significantly outpaces the haul of any of Biden’s virtual fundraisers, indicating a potential formula for maintaining an edge in the money wars in the months ahead.

Biden still has less cash on hand than Trump but significantly cut the gap in the second quarter of the year, ending June with $242 million in the bank, compared with $295 million for the president.

The president has used his hefty campaign bank account to engage in unprecedented spending, with his campaign, the Republican Party and two affiliated committees doling out more than $983 million since 2017, including about $2 million for Trump’s rally last month in Tulsa, Okla.

The fundraising boost comes as Trump continues to trail Biden by double digits in several national polls and by substantial margins in a number of key swing states.