In the presidential fundraising race for the year 2024, there seems to be a sharp contrast created in terms of the grassroots donors and the mega donors. According to New York Times, the vice president Kamala Harris, former President Donald Trump campaigns and their super PACs have spent nearly $1.3 billion. This money does not include any money which came from dark money groups which are hidden from the public. Most of the political analysts expect that even higher contribution will be made in the last months as the election gets closer.
Trump’s billionaire benefactors
The politicians in this new millennium, especially national candidates like Donald Trump, simply go to their phone contact apps and hit top billionaires to fundraise their political campaigns. Appearing in Donald Trump’s new campaign is some blend of native and foreign affluent with a few names including:
Timothy Mellon: The Mellon banking heir has invested in the Trump campaign for slightly above 125 million dollars. Due to lack of active engagement with Trump in person as well as a general reckless character of enormous people wealth, Mellon generates close to 50% of the super PAC resources of why not pro-Trump.
Elon Musk: As a Oligarch from the tech world, Musk’s participation into political fundraising should be noted. Money borrowed for example who’s super PAC aimed at transforming the ground game of the republican party has had a red cupboard wouldn’t it. With a very different agenda from that which Trump had come out on, Musk was New York Times reported intending on softening Trump’s views particularly on electric cars.
Miriam Adelson: Although she does not deny herself the right to nanny the whole of Israel, she has in this regard cut herself from Trump’s usual entourage. To start off, thanks to a $100 million investment, she is able to set up her own super PAC. Her endeavours have earned platitudes as well as brickbats from Trump but have not affected her enthusiastic support.
Dick and Liz Uihlein: Having established ULine, the Uihleins have transferred their endorsement from Florida Governor Ron DeSantis to Trump. Their return, however, indicates a tactical interest in the former president’s campaign.
Linda McMahon: For many years a member of Trump’s circle, McMahon sees his authority thanks to her previous position in his administration and her present activities in the field of Trump’s transit period.
Harris’ high-profile supporters
A lot of big donors particularly have been focused on helping Kamala Harris raise money in the Democratic primary:
Reid Hoffman: Having co-founded LinkedIn, he has been an active Democratic Party donor since Trump took office. If this were true, too, it would make him even more valuable for the New York Times Hutchinson as a majority donor certain to interference with the Day at Sanders.
George and Alex Soros: The Soros family remains invested in Democrat causes with Alex Soros more focused on the US. It is their turn to provide support for future Democrat drives.
Michael Bloomberg: While Harris still waits for Bloomberg to deliver on most of his pledges, it is always clear that Bloomberg’s last minute funds will help any candidate’s cause. His further donations may be very important in the last round of the game.
Dustin Moskovitz: Thanks to his charity activities, Facebook’s co-founder did not help Harris out much but will more likely help through Future Forward, an organization he founded.
Jeffrey Katzenberg: As an ardent fundraiser in Hollywood, Katzenberg’s ties with Biden’s campaign for years have migrated towards Harris politically and offering similar fundraising strategies as well as support.
As the 2024 election draws closer, the position of these mega-donors is set to shift the balance of power in campaigning thus reinforcing the position of both small dollar folks and the very very big pocket styles in the American political future.
