Just days after hosting a $1 million-per-plate fundraiser for the MAGA Inc. Super PAC, former President Donald Trump escalated his campaign fundraising efforts with a $1.5 million-per-person
dinner on May 5 at his Trump National Golf Club in Sterling, Virginia.
Co-hosting the exclusive event was David Sacks, the Biden White House's point person on AI and cryptocurrency policy. Sacks plays a key role in shaping potential federal regulations on digital assets.
While the exact purpose of the fundraiser remains unclear—especially given that the Constitution’s 22nd Amendment bars Trump from seeking a third presidential term—the event has raised questions about ethics and influence. Notably, the Trump Organization has recently begun selling "Trump 2028" merchandise, fueling speculation about his political ambitions despite Trump stating in a May 4 interview with NBC’s Meet the Press that he respects the two-term limit. “I’ll be an eight-year president; I’ll be a two-term president. I always thought that was very important,” he said.
Even if Trump doesn't run again, the funds could still be used to support candidates he endorses, potentially increasing his sway over the Republican Party.
Another fundraiser scheduled for May 22 will offer a dinner with Trump to 220 top holders of the $TRUMP meme coin. The event, also at the Sterling golf club, will be black tie optional.
Senator Elizabeth Warren (D-Mass.), a senior member of the Senate Banking Committee, has criticized the ethics of the May 5 event. In a letter to the Office of Government Ethics, she questioned the legitimacy of an ethics waiver granted to Sacks, who still holds private equity stakes in crypto-related companies, despite his firm having divested over $200 million in crypto assets.
“Tonight, Mr. Sacks is co-hosting a $1.5 million-a-head dinner for crypto industry players to raise money for a Trump-aligned super PAC,” Warren wrote. “Meanwhile, Mr. Sacks is financially invested in the crypto industry, positioning him to potentially profit from the crypto policy changes he makes at the White House.”
Ethics watchdogs have also flagged potential concerns over individuals purchasing $TRUMP meme coins as a means to gain influence with Trump’s inner circle. The May 5 dinner was closed to the press.