As the 2024 US presidential election approaches, the financial backing of the country’s wealthiest individuals is becoming increasingly significant.
While both former President Donald Trump and Vice President Kamala Harris have secured millions in donations from small donors, it is the billionaires’ support that could sway the campaign.
Bloomberg has compiled a list of the wealthiest Americans who have expressed support for one of the presidential candidates, either through direct statements or financial contributions.
Drawing from Federal Election Commission data as of August, the report highlights members of the Bloomberg Billionaires Index who have made donations to either the Harris or Trump campaigns.
Billionaires supporting HarrisBillionaires supporting TrumpEric Schmidt: $3 millionMiriam Adelson: $5.8 millionDustin Moskovitz: $929,600Diane Hendricks: $5.8 millionMelinda French Gates: $3,300Kelcy Warren: $5.8 millionLaurene Powell Jobs: $929,000Stephen Schwarzman: $419,600Elizabeth Johnson: $156,600Jeff Hildebrand: $3,300Pat Stryker: $1.05 millionHarold Hamm: $817,300David Shaw: $1.975 millionAndy Beal: $1.038 millionSteven Spielberg: $929,600Tilman Fertitta: $410,600Margot Perot: $20,000Bernie Marcus: $1.844 millionMark Cuban: Endorsement, no donation yetWoody Johnson IV: $1.806 million
Source: Bloomberg
Trump leads in billionaire support
Former President Donald Trump has attracted significant support from some of the wealthiest Americans.
His campaign has received a total of $24.4 million from 13 billionaires, with the top three donors — Miriam Adelson, Diane Hendricks, and Kelcy Warren — contributing a substantial $5.8 million each.
These contributions include donations to the Trump 47 Committee and allied super PACs, such as “Preserve America PAC” and “Make America Great Again Inc.”
The appeal of Trump’s policies, particularly in business and tax reforms, seems to resonate with several high-net-worth individuals.
Notable supporters include Stephen Schwarzman, chairman of Blackstone, and Harold Hamm, chairman of Continental Resources, each donating hundreds of thousands of dollars to the Trump campaign and its affiliated committees.
Kamala Harris’s billionaire backers
Vice President Kamala Harris, the Democratic presidential nominee, has garnered significant support from tech giants and philanthropists.
Harris’s campaign has raised at least $12.8 million from 20 billionaires, including those who initially supported President Joe Biden.
These contributions were transferred to Harris after she became the candidate.
Former Alphabet CEO Eric Schmidt is Harris’ top donor, contributing nearly $3 million to her campaign through the Future Forward PAC.
The tech industry, in particular, has shown a strong preference for Harris, with substantial donations from the likes of Dustin Moskovitz, co-founder of Meta Platforms, and Laurene Powell Jobs, founder of Emerson Collective.
Meanwhile, high-profile figures such as Mark Cuban have endorsed Harris, though they have yet to make direct financial contributions.
Key endorsements without direct donations
Beyond the direct financial contributions, some billionaires have chosen to endorse candidates without making monetary donations. Elon Musk, CEO of Tesla, formally endorsed Trump but has not donated directly to his campaign.
Instead, he helped launch “America PAC,” which supports Trump’s re-election efforts. Similarly, Mark Cuban has endorsed Harris but has not yet contributed financially.
These endorsements could play a pivotal role in shaping public opinion and influencing undecided voters, showcasing the complex dynamics of billionaire support in US elections.
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