Venture investor David Sacks and fellow venture capitalist Chamath Palihapitiya hosted the fundraiser at their Pacific Heights residence. Palihapitiya and Sacks co-host the well-liked podcast “All-In.” The price to attend varied from $50,000 and $500,000, depending on the perks. Many well-known cryptocurrency investors and venture capitalists attended the event.

During the fundraiser, Harmeet Dhillon, a member of the Republican National Committee, said the former president was “relaxed, happy, and cracking jokes about AI.”

Sacks reportedly said at the fundraiser that “this all started with JD Vance calling and asking if we could host an event for President Trump. Without JD’s advice and encouragement, this would never have happened.”

Sacks gave a lengthy explanation of his endorsement of the former president in a post on X. Here is a portion of it:

Why I’m Backing President Trump

As many press accounts have reported, I’m hosting a fundraising event for President Donald J. Trump at my home in San Francisco this evening. Over the last couple of years, I have hosted events for presidential candidates Ron DeSantis, Vivek Ramaswamy, and Robert F. Kennedy Jr., as well as several Congressional figures in both major parties. I give to many, but endorse few. But today I am giving my endorsement to our 45th President, Donald J. Trump, to be our 47th President. My reasons rest on four main issues that I think are vital to American prosperity, security, and stability – issues where the Biden administration has veered badly off course and where I believe President Trump can lead us back