Actor Michael Douglas Helps Raise Cash for Biden

(Bloomberg) -- President Joe Biden is courting actors and business leaders in Westchester County, New York, as his reelection campaign seeks to pad its cash advantage over Donald Trump for the November election.

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Michael Douglas, the actor and film producer known for his role as Gordon Gekko in the 1987 film “Wall Street,” is hosting a Thursday fundraiser with campaign donors from the media, business and legal worlds.

Among the invited guests are fashion designer Eileen Fisher; Sy Sternberg, the former CEO of New York Life Insurance Co.; Jules Kroll of K2 Integrity; Jessica Kearns of PJT Partners; and Rodge Cohen, Rob Schlein, Bill Plapinger and Mark Menting of Sullivan & Cromwell LLP, according to people familiar with the event. It is unclear whether all of the invitees will attend.

A Biden campaign spokesman did not immediately reply to a request for comment.

The reception follows the president’s trip earlier Thursday to Syracuse, New York, where he announced $13.6 billion in grants and loans for Micron Technology Inc. to boost semiconductor manufacturing in the US.

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Biden’s team has built a large money lead over Republican rival Trump. The Biden campaign and the Democratic National Committee ended March with $192 million in cash on hand, more than twice the $93.1 million sum Trump and the Republican National Committee reported for the same period.

This year’s presidential election is expected to be the most expensive in the US history. Biden has tapped funds to open more than 130 field offices across the country and buy up television and digital ads. Trump’s political operation has been conserving cash for election activities as it continues to spend millions of dollars each month on his legal bills.

Trump began his first criminal trial earlier this month in New York City, where he has to spend four days a week in court, keeping him off the traditional campaign trail. In total, he is facing four criminal indictments.

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