He appears to be wearing an astrakhan coat which is enormously expensive and cruelly harvested.  The most desirable form of astrakhan is that from a lamb 15-30 days away from being born, and it is sourced by killing both the ewe and the unborn lamb. 

Perhaps he is trying to channel Churchill and other Edwardian luminaries who had a a fondness for this get up but it makes him look merely pretentious and disconnected from the average citizen.  So, bring on the high roller fundraisers; they are his kind of people, sometimes vulgar and pretentious but always  willing to splash out money in return for access.  

Few politicians can be bought through fundraisers but they can certainly be influenced, both before and after the event, which is the point of the whole exercise.