Vice President JD Vance raised $4.2 million at a fundraiser in Palo Alto, money that will be used to defend Republican majorities in the House and Senate, Axios and Yahoo Finance reported.
About two dozen supporters paid as much as $250,000 for the dinner Thursday (June 25) at the Palo Alto home of venture capitalist and “All-In” podcast host Chamath Palihapitiya, Axios reported.
Goldman Sachs executive John Underwood co-hosted the event, which drew several prominent technology leaders, including Coinbase co-founder and CEO Brian Armstrong and Intel CEO Lip-Bu Tan.
Venture capital connections
Before Vance was elected to the Senate from Ohio, later becoming vice president, he worked as a venture capitalist and built relationships across the technology industry.
The dinner helped Republicans increase their advantage over Democrats when it comes to campaign funding.
Federal Election Commission filings show the Republican Party’s national committees have outraised their Democrat counterparts during the current election cycle, giving the GOP a larger campaign war chest as it seeks to hold its House and Senate majorities, Axios reported.
Republicans are also working to overcome the historical trend that sees the president’s party lose seats in midterm elections.
While the event was to raise money for the Republican Party, it allowed Vance an opportunity to develop a closer relationship with people who could fund his expected presidential run in 2028, Axios reported.
Remarks about Nixon
Earlier Thursday at the Richard Nixon Presidential Library and Museum in Yorba Linda, Calif., Vance downplayed the significance of the Watergate scandal.
“The idea that it would have taken down a presidency is crazy,” Vance said, according to the New York Times.
Vance compared himself to Nixon. “Young senator, vice president, writes some bestselling books, is hated by the media,” Vance said. “It kind of sounds like JD Vance. I’ve always liked Richard Nixon.”
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