The five biggest spending megadonors who have already spent $600 MILLION on the presidential election
In a campaign that’s shattering spending records, a handful of individuals are responsible for a massive splurge that’s driving the ad spending voters see on billboards and smartphones in battleground states.
Among them are billionaires who have amassed fortunes in railroads, hedge funds and shipping platforms. The top five megadonors all back Republicans, with Donald Trump banking on their support in an effort to counter the lead Kamala Harris has built among individual contributors.
At the top of the list is Timothy Mellon, the grandson of prominent financier and Pittsburgh native Andrew Mellon. He alone is responsible for $172 million in campaign contributions, $125 million of which went to the pro-Trump MAGA, Inc.
He also donated $25 million to American Values 2024, which supports Robert F. Kennedy Jr., who ended his independent campaign and expressed support for Trump.
The former president pressed him on his transition efforts and said he will take on health responsibilities in a future Trump administration.
Miriam Adelson, widow of longtime donor Sheldon Adelson, donated $100 to the pro-Trump Preserve America PAC
Next on the list is Miriam Adelson, widow of longtime donor Sheldon Adelson, who has donated $100 to the pro-Trump Preserve America PAC.
The staunch Israel supporter has also made smaller strategic contributions, donating $1 million to Georgia Governor Brian Kemp’s super PAC. Kemp reached a rapprochement with Trump after clashing with him over his claims of election fraud in 2020. Kemp is now trying to position his organization behind Trump in a battleground with no clear frontrunner.
According to the Washington Post, megadonors have spent a combined $2.1 billion this election cycle.
In total, the elections have already generated a record $16 billion in campaign spending.
Elon Musk, the richest man in the world, has spent $75 million, but doesn’t make it into the top five. He organizes events for Trump in battleground Pennsylvania
Richard and Elizabeth Uihlein, who run a massive shipping estate in battleground Wisconsin, have made donations totaling $128 million, with $10 million going to Make American Great Again PAC.
Reveal new registrations Dick Uihlein gave nearly $49 million to the Restoration PAC, which then turned around to support pro-Trump groups such as Moms for Liberty Action, Women Speak Out PAC and Turn Out For America. Forbes reported.
Elon Musk, the richest man in the world, who supports Trump, has donated $75 million – but that doesn’t even put him in the top five. He comes in at number six, but boosts Trump in other ways.
Jeff and Janine Yass are also from a major state and have donated $85 million
Republican hedge financier Kenneth Griffin has already spent more than $100 million
Timothy Mellon is responsible for $172 million in campaign contributions
In addition to jumping up and down wildly at Trump’s recent rally in Butler, Pennsylvania, Musk is campaigning for Trump across the state, paying $100 to voters who sign a petition in favor of “free speech and the right to bear arms.” .
Trump, after months of glorifying electric car technology, has begun regularly speaking of his amazement at watching Musk’s SpaceX spacecraft on television.
Jeff and Janine Yass are also from a major state and have donated $85 million. Jeff Yass is the state’s richest man and his Susquehanna International Group owns a 15 percent stake in ByteDance, TikTok’s parent company. Trump has switched to opposing a US ban on the Chinese app.
Republican hedge funder Kenneth Griffin, CEO of Citadel LLC, is spending $101 million.
The only one of the top 10 spenders this cycle to support Democrats is Michael Bloomberg, who famously spent $1 billion on his ill-fated 2020 run. He sat next to Trump during his black tie speech at the Al Smith on Thursday dinner in Manhattan. He gave $19 million to a pro-Harris super PAC.
The big money donations are fueling a massive TV advertising blitz, providing voting operations, polling and organizational efforts on a massive scale. In Trump’s case, outside PAC spending covers some of the organizational groundwork that campaigns traditionally handle.