Donald Trump drew major attention in the Hamptons on Friday as wealthy hedge fund managers eagerly opened their wallets. This shift in support came after a period of distancing from the GOP presidential nominee.
“Any doubts about Trump among Hamptons financiers are fading fast,” said communications strategist James McCarthy in a text message to The Daily Beast. McCarthy, who was relaxing poolside near the event, noted the change in sentiment.
The fundraiser, hosted by Howard Lutnick of Cantor Fitzgerald, aimed to raise $10 million for Trump, according to Bloomberg.
The event caused significant traffic disruptions as Trump, accompanied by his Secret Service detail, made his way through the upscale area.
Lutnick, along with Farvahar Partners CEO Omeed Malik and billionaire hedge fund operator John Paulson, organized the event. Malik is known for a significant settlement he secured from Bank of America after his firing for alleged sexual harassment.
Attendees paid $25,000 to join the fundraiser while hosting the event required a $500,000 contribution.
Co-hosts included real estate magnate Richard Kurtz, Woody Johnson, co-owner of the New York Jets and former Trump ambassador to the U.K., and Lee Zeldin, the ex-New York congressman who sought to overturn the 2020 election results.
According to the source, Duke Buchan, another host, is a prominent fundraiser for Trump and served as his ambassador to Spain.
So, why the renewed support for Trump? “Many Wall Street clients are either bundling donations or leveraging their networks for roles in the administration,” McCarthy told The Daily Beast.
This renewed interest follows Trump’s defiant response to an assassination attempt.
Despite this fundraising boost, Trump still trails behind Democratic nominee Kamala Harris in terms of fundraising totals.
The renewed enthusiasm among ultra-wealthy Republicans comes as they reassess their positions after Trump’s involvement in the January 6th insurrection and ongoing legal issues.
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Video footage showed supporters cheering Trump’s motorcade along Route 27, waving American, Trump, and even Israeli flags.
McCarthy, whose firm CounterPoint Strategies is based in the Hamptons, noted an increase in pro-Trump signs in the area, previously more common among working-class communities but now spreading to affluent areas.