Former President Donald Trump and the Republican Party's joint fundraiser in Palm Beach, Florida, next week has raised at least $33 million, organizers say.

That haul, which cannot be verified until campaign disclosure filings come out, would likely outraise President Joe Biden and the Democratic Party's fundraiser in New York City on Thursday featuring former Presidents Barack Obama and Bill Clinton, which is expected to raise more than $25 million.

The Financial Times first reported on the expected $33 million haul from Trump's fundraiser.

"The response to our fundraising efforts has been overwhelming, and we’ve raised over $33 million so far," billionaire John Paulson, who is hosting the gathering next week, said in a statement to ABC News. "There is massive support amongst a broad spectrum of donors. The dinner is relatively small in nature, and we are almost at our cap."

The two events underline what's expected to become an intense general election money race between the sitting and former presidents, as Trump, recently declared the presumptive GOP presidential nominee, can now team up with his party to jointly fundraise as they work to catch up with Biden and the DNC's massive $100 million war chest.

Up until he was declared the presumptive nominee, Trump and the RNC, disadvantaged by being unable to raise cash together unlike Biden and the Democratic Party, had been financially lagging behind their rivals, entering March with just half of what Democrats had in the bank, filings have shown.

Now able to fundraise together and accept north of $800,000 per donor, Trump's Palm Beach event, scheduled for April 6, is expected to be one of the largest gatherings of major Trump donors in recent years, co-chaired by dozens of top Republican names in addition to Paulson hosting.

A portion of the money raised through the fundraiser -- up to $5,000 per donor -- could go to Trump's Save America leadership PAC, which has covered tens of millions of dollars of his legal bills, according to disclosures.

Co-chairs of the fundraiser include several former ambassadors and Trump administration officials like former Small Business Administrator Linda McMahon and former Commerce Secretary Wilbur Ross as well as New York Jets owner Woody Johnson, according to an invitation to the fundraiser that was obtained by ABC News.

Former Trump campaign finance chair Todd Ricketts, energy mogul Harold Hamm, aerospace executive Robert Bigelow, hedge fund manager Robert Mercer and his daughter Rebekah Mercer and casino tycoon Phil Ruffin are also among the co-chairs, the invitation shows.

Biden's New York fundraiser on Thursday -- which his campaign is touting as having raised a "historic" sum -- is expected to include star-studded programs, featuring celebrities and musicians like Stephen Colbert, Mindy Kaling, Lizzo, Queen Latifah and Ben Platt, in addition to Obama and Clinton.

"This historic raise is a show of strong enthusiasm for President Biden and Vice President Harris and a testament to the unprecedented fundraising machine we've built," movie mogul and Biden campaign co-chair Jeffrey Katzenberg said in a statement.

Separately, Biden-Harris spokesman Kevin Munoz said in a statement that "Democrats are unified and energized behind President Biden's reelection campaign -- and that will be on full display this Thursday in New York City."

The Biden fundraiser takes place on the same day as Trump attended the wake of New York Police Department Officer Jonathan Diller, whom officials have said was shot and killed while conducting a traffic stop this week.

On Thursday, Trump campaign spokesman Steven Cheung took a swipe at Biden for holding a "glitzy fundraiser" with "elitist" supporters instead of attending Diller's wake like Trump is.

The White House has said that Biden spoke with New York City Mayor Eric Adams to share his condolences about Diller's killing and offer any support as needed.

Cheung also touted Trump's small-dollar fundraising.

"Democrats are running scared of the fundraising prowess of President Trump," he said, in part.

"We are not only raising the necessary funds but we are deploying strategic assets that will help send President Trump back to the White House and carry Republicans over the finish line," he continued.

ABC News' Gabriella Abdul-Hakim, Libby Cathey and Fritz Farrow contributed to this report.