An extraordinary fundraiser in Silicon Valley for the leading presidential candidate, Donald Trump, on Thursday night raised $12 million. The fundraiser was co-hosted by tech entrepreneur David Sacks, and tickets for couples were priced at $500,000 each, while individual tickets were $300,000 each. The event was completely sold out.

Attorney and RNC Committeewoman for California, Harmeet Dhillon, shared the news on X. She said that Trump was “relaxed, happy, and cracking jokes about AI.” He was introduced by Sen. JD Vance (R-Ohio) and then by Sacks. The fundraiser took place at Sacks’ Broadcliff residence in Pacific Heights and was attended by the Winkelvoss twins, crypto leaders, and other figures from the entrepreneurial and venture capital sectors. The event was hosted by Sacks, his wife Jacqueline, and venture capitalist Chamath Palihapitiya.

Support for Trump in Silicon Valley has been relatively subdued in recent years. However, in 2024, there has been an increase in people expressing support for Trump. The shift was evident Thursday, as tech moguls flocked to the event. It comes despite Trump’s conviction in New York on 34 felony counts related to falsified business records, specifically regarding recording payments to his attorney as legal fees in bookkeeping records.

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Following a guilty verdict, the Trump campaign has reportedly raised over $200 million in donations. This financial surge includes nearly $53 million raised in the immediate aftermath of the verdict, as reported by various social media posts and news outlets.

That includes Republican megadonor Miriam Adelson, who plans to invest tens of millions of dollars in a pro-Trump SuperPAC after considering other candidates during the primary. In 2020, the late Sheldon Adelson and his widow, a casino billionaire, stood as the top donors to the Preserve America PAC, providing over $90 million to bolster Trump’s campaign.

According to a report from Politico, Adelson plans to contribute upwards of $100 million to Trump’s campaign once again. Adelson, the principal shareholder of Las Vegas Sands and a majority stakeholder in the Dallas Mavericks alongside her son-in-law, has an estimated net worth of $33.3 billion, according to the Bloomberg Billionaires Index.

See also: Biden Campaign Instantly Regrets Trump’s Conviction After Stunning New Poll Drops

Trump has long held a major advantage over Biden in terms of small-dollar donations. According to FEC records, 35% of Biden’s 2024 re-election campaign donations have come from big donors, or contributions greater than $2,000. Additionally, only 38% of the president’s current campaign donations have come from small donors, or contributions valued between $1 and $200.

The Trump campaign has received 61 percent of its funds from small donors and only nine percent from big donors. From 2020 to 2024, President Biden’s donations from big donors have increased by 10 percentage points, while the former president’s numbers have decreased by the same margin.

Disclaimer: This article may contain commentary which reflects the author’s opinion.