Obama Hosts Fundraiser for 20 Who Gave $38,500

WASHINGTON — President Barack Obama hosted a private fundraiser Monday night with about 20 donors who each gave $35,800 to his re-election effort.

The event, which was closed to the media, took place at the upscale W Hotel near the White House.

Proceeds from the fundraiser are split between Obama's re-election campaign and the Democratic Party.

Through the end of February, Obama has raised about $300 million for his re-election campaign and the Democratic National Committee during the current election cycle. He raised more than $4 million during events in Chicago and Atlanta last Friday.