(Bloomberg) -- President Joe Biden will raise $25 million in a one-day New York fundraising bonanza, flexing his political and organizational muscles in the face of Donald Trump. 

Biden is raising money Thursday with Barack Obama and Bill Clinton from more than 5,000 supporters at Radio City Music Hall, a unique gathering designed to expand his already-large cash lead over the Republican candidate. It’s also a political power move as Biden looks to motivate Democrats to look past doubts about his age and leadership and hand him a second term. 

“The numbers don’t lie: today’s event is a massive show of force and a true reflection of the momentum to reelect the Biden-Harris ticket,” said Biden campaign co-chair Jeffrey Katzenberg.

Appearing with two former presidents allows Biden to show a level of party unity and institutional backing that Trump lacks. 

Trump consolidated power within the Republican Party as he steamrolled through the primary to clinch the presidential nomination. But he is estranged from other GOP bigwigs who could help him win voters outside his core group of loyalists. 

Read More: The Biden-Trump Cash Gap Is Starting to Show: Washington Edition

Trump’s former vice president, Mike Pence, declined to endorse him as did final primary opponent Nikki Haley. Former President George W. Bush and Trump have long been at odds. While they have privately disagreed at times, Obama has stumped for his former vice president’s campaigns. Biden and Clinton have been close for years.  

As Democratic Party pillars, Clinton and Obama can help “reach audiences that Joe Biden hasn’t necessarily reached,” said Christina Greer, a Fordham University political science professor. 

Biden still trails Trump 47% to 43% among voters in seven swing states, according to a Bloomberg News/Morning Consult poll. The president closed the gap in several states over the last month, as he barnstormed every 2024 battleground while his cash-strapped opponent has largely stayed off the trail. Trump is hosting his first rally in weeks on Tuesday in Wisconsin. 

Star Power

Biden is staging his splashiest fundraiser yet in Trump’s hometown, another symbolic rebuke of the former president. 

New York has traditionally been a cash cow for Democratic candidates but Thursday’s event is enormous in scale. The $25 million total is more than double what Trump raised in the entire month of February, according to federal filings.

A star-studded crowd will see Biden, Obama and Clinton on stage at one of the city’s iconic entertainment venues. 

Late-night television host Stephen Colbert will moderate a conversation with the three presidents. Actress and producer Mindy Kaling will host a program featuring performances by Queen Latifah, Lizzo, Ben Platt, Cynthia Erivo and Lea Michele, according to the Biden campaign. Vogue editor Anna Wintour helped Biden’s campaign finance leadership plan the event, according to a campaign official. 

Three days earlier, Trump appeared in a New York court in a failed attempt to delay the first of four criminal trials against him. The ex-president is liable for a $454 million civil fraud judgment and is banned from serving as a corporate officer or director in the state for three years. 

The Trump campaign didn’t respond to a request for comment. He texted a fundraising appeal to followers on Wednesday, saying “DON’T LET OBAMA SPIT IN YOUR FACE! Tomorrow they aim to HUMILIATE us. It’s bad.” The message said 90% of the money would go to his campaign and the rest to the entity paying his legal bills.

Biden’s event is much larger than other political fundraisers, which typically happen at private homes with more intimate crowds.

The cheapest ticket is $225, lower than the cost of entry to most fundraisers. For $50,000, donors can get into an after party and receive an invite to a national finance committee retreat. A photo with the presidents starts at $100,000, while a $250,000 or $500,000 contribution allows access to more exclusive gatherings, according to an invitation. Select guests will have their photo taken by Annie Leibovitz, a campaign official said. 

Biden will not receive a warm reception from everyone in New York. Protesters angry with the president’s handling of the Israel-Hamas war are expected to demonstrate against him. Biden’s motorcade and security footprint will also snarl traffic in Manhattan, a persistent annoyance for residents during presidential visits. 

New York leaders have voiced concerns about the influx of migrants and implored the federal government to do more to ease the strain on social services. Worries about a spike in crime, especially in the city’s subways, have also left Biden vulnerable to attacks on his public-safety record. 

--With assistance from Amanda Gordon and Stephanie Lai.

©2024 Bloomberg L.P.