Former President Trump’s PAC has $85 million on hand as he prepares for midterms and possible 2024 run – CNBC

Former U.S. President Donald Trump speaks at the Conservative Political Action Conference in Orlando, Florida, U.S. February 28, 2021.

Octavio Jones | Reuters

Former President Donald Trump's political action committee has amassed a war chest of more than $85 million as he builds an operation meant to take on his enemies and possibly fuel another run for president in 2024.

Save America, Trump's leadership PAC, heads into the second quarter with that gargantuan sum of cash on hand, according to a person with direct knowledge of the matter who declined to be named as the fundraising data has not been made public.

The PAC raised more than $30 million from late November through December, and finished last year with $31 million on hand, Federal Election Commission filings show.

This person did not say how much the PAC raised in the first quarter, noting that it files disclosures semiannually, which means the public likely won't see details on Trump's fundraising success until the summer. The total also does not include the cash on hand for other Trump-affiliated PACs, including the Trump Make America Great Again Committee.

Trump has significant resources to deploy as he looks to influence the 2022 midterm elections, when Republicans will try to make inroads in both the House and Senate. Democrats currently control both chambers of Congress.

Trump, however, has targeted Senate Minority Leader Mitch McConnell, R-Ky., and promised to back GOP "primary rivals who espouse Making America Great Again and our policy of America First." The former president turned on McConnell after the senator said Trump bore responsibility for the mob of his supporters that stormed the U.S. Capitol on Jan. 6.

Trump is expected to speak at the Republican National Committee's spring retreat this weekend. He has not ruled out running for president again.

Meanwhile, Trump has become involved in the battle brewing between Republican lawmakers and corporations who have come out against a new law in Georgia that critics say restricts voting. The former president falsely claimed widespread fraud cost him the 2020 presidential election in the state, and urged Georgia officials to overturn President Joe Biden's win there.

"It is finally time for Republicans and Conservatives to fight backwe have more people than they doby far! Boycott Major League Baseball, Coca-Cola, Delta Airlines, JPMorgan Chase, ViacomCBS, Citigroup, Cisco, UPS, and Merck," Trump said in a statement Saturday.

Major League Baseball announced a day earlier that it would pull its All-Star Game out of Atlanta after Georgia's latest voting bill was signed into law by Republican Gov. Brian Kemp. MLB is reportedly moving the game to Colorado.

Trump's $85 million haul also arrives as he is reportedly looking to create his own social media network after being banned by both Twitter and Facebook.

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Former President Trump's PAC has $85 million on hand as he prepares for midterms and possible 2024 run - CNBC