Trump Political Action Committee Accumulates 35 Billion Won in Cash

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Bloomberg reported on the 31st (local time) that former U.S. President Donald Trump's leadership PAC (Political Action Committee), established one week after the presidential election, has accumulated about 35 billion KRW in cash.

The leadership PAC is a nationwide fundraising organization characterized by the ability to use the funds for personal expenses such as polls and lodging fees.

According to the report, the accounting data submitted to the Federal Election Commission (FEC) by Trump's leadership PAC "Save America" shows that from November 24 to December 31 last year, the PAC raised approximately $30.9 million (about 34.54 billion KRW) and holds about $31.16 million (about 34.83 billion KRW) in cash.

Expenditures amounted to only $217,000.

Most of the Save America fundraising came from the joint fundraising committee of Trump's presidential campaign and the Republican National Committee (RNC), the "Trump, Make America Great Again (MAGA) Committee."

In the case of the MAGA Committee, it raised $62.5 million, including $35.2 million from individual donors who contributed less than $200 per person, from November 24 to the end of last year, and currently has $59.9 million deposited in the bank.

Trump's presidential campaign and the Republican National Committee also received transfers of $25.5 million and $22.5 million, respectively, from the MAGA Committee during this period.

Meanwhile, Trump's presidential campaign earned $27 million and spent $34.7 million between November 24 and the end of the month last year.

Specific expenditures included $11.1 million returned to donors, $6.5 million on online and text message advertisements, $5.1 million on recount-related advertisements, and $3.4 million on recount-related legal fees.

As a result, Trump's presidential campaign currently holds $10.7 million in cash but also carries $2.7 million in debt.

CNN explained, "Former President Trump can use the leadership PAC Save America to donate to other candidates or cover travel expenses and staff salaries," adding, "The millions of dollars raised in Save America, the main tool for political activities after the presidency, can be used to expand his influence within the Republican Party."

Trump had already announced through a Save America statement on the 28th of last month that he agreed in a private meeting with Kevin McCarthy, the Republican House Majority Leader, to help the Republican Party regain the majority in the House.

This content was produced with the assistance of AI translation services.