Washington, May 10: The ill-famed entrepreneur and industrialist Donald Trump may have trumped everyone out, but his experience or non-experience in the Presidential elections is taking a toll over his finances. Anticipating that he may lag dangerously behind the Democrats in raising money for the General Elections.
Trump has already spent around $40 million from his fortune on the primaries, but now he is cash strapped for any future transactions. He may need as much as $1.5 billion for the fall campaign. He has decided to raise the money from donors rather than do self-finance.
Incidentally, his inexperience in the field is now showing. With almost no friends anywhere, he has no fund-raising apparatus to resort to, no network of prolific bundlers to call upon. Even if individuals contributed, he will only manage to collect $334,000 at a time to the party. With just six months and a divided party that is yet to absorb the fact that Trump is its standard-bearer, the going gets tough.
Meanwhile, Mike DuHaime, who was the top strategist for the presidential campaign of Gov. Chris Christie of New Jersey says, "No one should underestimate how hard it would be for any nominee to raise hundreds of millions of dollars in a very short period of time."
Some of the Republican party's alliances who spent enormous sums in 2012 elections now appear to stay on the sidelines in the presidential race, including the vast Koch brothers network, which had pledged to spend $900 million in 2016.
Mark Holden, chairman of the Freedom Partners Chamber of Commerce, one of the Koch network's main umbrella groups, said that Trump needs to change his approach to garner votes. "If during the general election cycle, a candidate were able to garner support from the public with a positive message in support of the issues we care about, and did not engage in personal attacks and mudslinging, we would consider potentially getting involved," he said.
Another Karl Rove-led group American Crossroads also said that they have no immediate plans of funding Trump until he behaved. However, the Kochs' network and the American Crossroads are now expected to focus more on aiding the Republicans' efforts to retain their majority in the Senate.
The Republican party officials, meanwhile have agreed to sign a joint fund-raising agreement, which would allow him to raise money for the national committee and for himself.