DeSantis' decision to file formal paperwork with the US Federal Election Commission declaring his candidacy, which would correspond with the donor meeting in Miami on May 25, puts the governor in direct competition with another GOP presidential candidate, ex-US President Donald Trump.
Several other candidates, including former South Carolina Governor Nikki Haley are also running, though they are far behind in the polls. Trump's former Vice President, Mike Pence is also rumored to be considering a run.
A more formal event would follow the meeting, but the details have yet to be revealed, US media reported.
DeSantis is currently running second in polls to Trump, but it is likely that he will gain some ground after he officially announces. DeSantis looked to be gaining momentum last summer, he beat Trump in some polls and won a Republican activist strawpoll by a 4% margin. However, he has fallen off in recent months and poll aggregator FiveThirtyEight has him more than 31 points behind the former President.
Still, DeSantis is likely to be the biggest hurdle for Trump before he secures the presidential nomination. Every other rumored or confirmed candidate is polling in the single digits.
Trump announced his 2024 campaign late last year. Current officeholder Joe Biden officially launched his reelection campaign in April.