Washington — Former President Donald Trump's campaign said it raised $50.5 million at a Saturday event in Florida, marking a massive haul as his campaign looks to catch up to the Biden campaign's recent fundraising efforts and significant cash advantage.

The record-breaking sum that the campaign reported raising at a Palm Beach, Florida fundraising dinner on Saturday far surpasses the amount brought in by a star-studded fundraiser for the Biden campaign last month, as the GOP touted the event as an indicator of party's unity behind the former president. 

In a joint statement, RNC Chairman Michael Whatley and co-chair Lara Trump said the "success" of Saturday's event is "proving what we already know: Americans are fed up with Biden's record of failure, from the open southern border and sky-high inflation to the migrant crime crisis that has made everyone less safe."

The funds raised at the Saturday fundraiser are expected to be split between the Trump campaign, Republican National Committee, state Republican parties and the Save America PAC, which helps pay for the former president's legal bills.

The reported influx comes as Trump's fundraising efforts have been steadily increasing since November, as his path to the nomination has become clearer. But it's fallen short of the Biden campaign and the Democratic Party's fundraising efforts as the two men prepare to face off this fall.

The Biden campaign said on Saturday that he raised over $90 million in March, coming $25 million above what Trump brought in during the period. Mr. Biden had ramped up his campaign efforts during the month, traveling to battleground states following his State of the Union address. And a private New York City fundraiser during March with former presidents Barack Obama and Bill Clinton brought in more than $26 million in a single night, his campaign said. 

But the Trump campaign touted Saturday night's figures as outpacing the Democrats' efforts. 

"It took three Democrat presidents to raise $25 million and one president to raise over $50 million, Donald J. Trump," campaign spokesperson Danielle Alvarez said. 

Heading into the night, Trump himself trumpeted the expected fundraising influx, calling it the "biggest night" in fundraising ever, while noting that it would eclipse the recent Biden fundraising event. 

The Palm Beach, Florida dinner, which was held at the home of investor John Paulson, featured remarks from the former president, who highlighted the need to win back the White House and pledged to make the country "bigger, better, and stronger than ever before," according to a senior campaign official. The event also included remarks from North Dakota Gov. Doug Burgum and entrepreneur Vivek Ramaswamy, among others. 

Robert Costa contributed to this report. 

Kaia Hubbard

Kaia Hubbard is a politics reporter for CBS News Digital based in Washington, D.C.

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