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Republican Donald Trump has forgiven nearly $50 million in loans he made to his presidential campaign, he said on Thursday, signaling to donors that future contributions will be used to fight Democrat Hillary Clinton and not to repay himself.
The announcement that Trump will not seek repayment of the loans via contributions came amid concerns from his backers that he does not have enough money to fund his campaign for the Nov. 8 election. He had only $1.3 million in cash to start the month.
"I have absolutely no intention of paying myself back for the nearly $50 million dollars I have loaned to the campaign Damen Nike Air Presto Schuhe Weiß Schweiz ," the presumptive Republican nominee said in a statement.
The New York developer has suggested he could use more of his personal wealth to help win the White House.
"(Trump) has also said he will contribute significantly more money," Steve Mnuchin, the top fundraiser for Trump's campaign, said in an interview on CNBC earlier on Thursday. Mnuchin was the first to say that Trump would forgive the loans.
Although Trump has said he has "unlimited" personal wealth to fund his White House run, a Reuters review of his financial disclosures suggests he does not have enough cash to see his campaign through to Election Day.
Gaylord Hughey nike vapormax be true schweiz , a Texas-based fundraiser supporting Trump, called Trump's decision to forgive the loans "unprecedented."
"I think it indicates that he’s all in and he wants every dollar to be spent toward a successful campaign for the general election," Hughey said.
Hughey, who as a bundler collects donations from other supporters, said Trump was broadening the pool of donors in addition to gaining support from people who historically donate to Republicans.
"We’ve had new folks come in as major donors unexpectedly nike cortez schwarz schweiz ," Hughey said.
Mnuchin also told CNBC that Trump had seen a strong uptick in fundraising in the past week.
He said Trump raised about $10 million in conjunction with the Republican Party at fundraising events this week. Trump also raised $6 million through online donations, Mnuchin said, following the wealthy New York businessman's first attempt to appeal to supporters to contribute to his campaign.
“We've really ramped up the effort this month," Mnuchin said.
Supporters began worrying on Monday after Trump's campaign revealed weak fundraising totals. He began June far behind Clinton, who had a $42 million war chest to start the month.
Candidates need a hefty bank account to fund a presidential bid nike cortez ultra moire schweiz , including hundreds of millions of dollars for television advertising and staff. Trump has benefited from extensive media coverage but could be buried in attack ads if he lacks the funds to push his own message.
Mnuchin said Trump's numbers at the beginning of June were "irrelevant" because his fundraising efforts for the general election only started recently.
JOINT FUNDRAISING ACCOUNT
Trump funded his campaign for the Republican nomination largely through his own personal wealth, putting money into his campaign in the form of loans. By leaving them as loans, he would be entitled to seek repayment from his campaign.
By converting the loans into contributions, Trump is telling his supporters he will not seek repayment via contributions. There are no legal limits on how mu. Danilo Pereira Portugal Jersey Karim Benzema France Jersey Jack Wilshere England Jersey Domagoj Vida Croatia Jersey David Ospina Colombia Jersey Marcelo Grohe Brazil Jersey Luis Pedro Cavanda Belgium Jersey Guido Pizarro Argentina Jersey Edinson Cavani Uruguay Jersey Valon Behrami Switzerland Jersey