Barack Obama and Bill Clinton will join US President Joe Biden at a special fundraiser on Thursday in what is a major show of Democratic support for Biden's re-election campaign.

The fundraiser, taking place in New York City, is raising a whopping $25 million (£19.7 million), setting a record for the biggest haul for a political event. The figure boosts Biden's war chest as he aims to defeat former US President and presumptive Republican opponent Donald Trump.

The event will include an onstage conversation with Biden, Obama and Clinton, hosted by late-night talk show host Stephen Colbert. The fundraiser, which is expected to draw more than 5,000 supporters, will also see performances from Queen Latifah, Lizzo and Lea Michele.

“Democrats are unified and energized behind President Biden’s re-election campaign – and that will be on full display this Thursday in New York City,” Biden campaign spokesperson Kevin Munoz said in a statement, as per The Hill.

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The fundraiser is taking place in New York and has raised $25 million (£19.7 million) (
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AFP/Getty Images)

“Donald Trump has no juice heading into the general: huge chunks of Republican primary voters have made clear they have no interest in voting for him this November. Elections are won by putting in the work to assemble a broad, diverse coalition — and Joe Biden is doing just that.”

Some of the guests in attendance at the fundraiser will get the chance to pose for a picture with Biden, Obama and Clinton. “We understand the importance of the three of them being together. This is going to be an important event,” said White House press secretary Karine Jean-Pierre. “These are presidents … that believe in what we’re trying to do.”

Tickets start from $225 (£178) but attendees will get different levels of access at the event, depending on the size of their donations. A photo with Biden, Obama and Clinton will set supporters back $100,000 (£79,000) while those who donate $250,000 (£197,000) will get access to one reception as people who pledge $500,000 (£395,000) will be granted entry into an even more exclusive gathering.

Obama and Clinton's appearance at the fundraiser will help Biden expand his already significant cash advantage over Trump. Biden had $155million (£122million) in cash on hand through the end of February, compared with $37million (£29million) for Trump and his Save America political action committee.

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Donald Trump is hoping to be re-elected US President (
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“The enthusiasm we’re picking up as we go around the country is real," Biden said earlier this month. “We’ve raised a whole lot of money. We have 1.5 million donors, including 500,000 are brand new, they’re small donors; 97 per cent of the donations under 200 dollars (£157).”

Trump, meanwhile, has faced a serious money crunch amid mounting legal bills while he fights four criminal indictments along with a series of civil charges. In attempts to raise money, the former US President has tried his luck at selling Bibles, Trump-branded trainers, perfume and NFTs.

Steven Cheung, a Trump campaign spokesperson, dismissed the importance of Biden’s Thursday fundraiser. He said: “Crooked Joe is so mentally deficient that he needs to trot out some retreads like Clinton and Obama."