Forget that self-financing stuff.
Donald Trump is moving swiftly to build a fundraising operation after becoming the GOP's presumptive nominee. On Thursday, just days after vanquishing his two remaining rivals with a big win in Indiana, the billionaire developer formally announced that Steve Mnuchin,
the CEO of Dune Capital Management, a private investment firm, would serve as his national finance chairman.
Trump, who loaned his campaign $36 million during the primary fight, signaled this week that he would seek campaign funds from donors for a general election showdown that could hit the $2 billion mark. In a statement Thursday, Trump aides said he still planned to put up "substantial money toward the general election" but is taking the necessary steps to face Democrat Hillary Clinton.
Mnuchin has deep ties to the financial world as an ex-Goldman Sachs executive and founder of a bank holding company, OneWest Bank Group. His firm, Dune Capital, has invested in a clutch of attention-getting movies, including "Avatar." He's also worked closely with George Soros, the billionaire financier who is one of the Democratic Party's largest benefactors.
Federal Election Commission records show Mnuchin also has donated to a mix of Republicans and Democrats over the years, including Clinton.
In a news release, Trump said Mnuchin "brings unprecedented experience and expertise to a fundraising operation that will benefit the Republican Party and ultimately defeat Hillary Clinton.” Mnuchin said the campaign plans to build "a world-class finance organization."
The move comes as several strategists say they are gearing up to raise unlimited super PAC money to support Trump's bid, despite his earlier disavowal of those groups.
Trump's decision to build a fundraising apparatus undercuts his mantra during the primary battle that his self-funding made him beholden to no one. It also drew taunts this week from Democrats and liberal groups.
