This election cycle off the beaten path, even the wealthiest individuals placed their chips on candidates. According to a report by Forbes, billionaires globally, both expressive and unobtrusive, stood behind either Donald Trump or Kamala Harris. Strangely, a sizable number of these deep-pocketed folks subtly vested their trust in Harris. On the other hand, Trump’s wealthy adherents like Elon Musk were open-hearted about their allegiance, unapologetically throwing their riches and clout behind him.
There is a surprising lineup to notice when it comes to billionaires financing and flexing their dominance in U.S. politics for this election spree. Among them, one name stands out – Elon Musk. At 53, Musk overlooked past disagreements with Trump and gallantly moved ahead to use his influence and wealth endorsing the re-entry of the ex-president into the White House.
Elon Musk, bearer of multiple mantles and currently the wealthiest man on earth, has an impressive portfolio. His empire ranges from Tesla to SpaceX, Neuralink, and many more. A South African by birth, Musk has embraced U.S. as his home since 1991, when he shifted to pursue his education at the University of Pennsylvania. His backing of Trump is indicative of the powerful support behind the former president.
In the illustrious list of Trump’s billionaire fans, Timothy Mellon, inheritor of the notable Mellon banking wealth, also carved his spot. Mellon, at 81, had subtly but substantially tagged along with his donations to Trump. His considerable contribution went towards Trump’s Super PAC, despite being considerably modest about his political beliefs and public statements.
A name that is no stranger to philanthropy and Trump’s supportive base is Miriam Adelson. The widow of gambling tycoon Sheldon Adelson, Miriam was high on the energizing force behind Trump and significantly donated to Republican initiatives. An FEC filing indicates that she backed her pro-Trump PAC with substantial donations. Given her generous donations, she proved to be a significant driver of Trump’s campaign.
Linda McMahon and her husband, Vince, were another profound pair in the roster of Trump’s backers. McMahon, 76 and innovator of World Wrestling Entertainment, has been a dynamic persona within Republican politics. After serving WWE as the CEO until 2009, McMahon transitioned into politics and ran as a Republican senatorial candidate in Connecticut in 2010.
The proprietor of New York Jets, Woody Johnson, earned his lavish fortune as Johnson & Johnson’s pharmaceutical heir. During the Trump administration, he held the prestigious role of U.S. ambassador to the United Kingdom and took his place among the billionaire Trump supporters.
Elizabeth and Richard Uihleins, affectionately known as Liz and Dick, founded the shipping company ULine, which prides itself as the largest distributor of industrial supplies, packaging, and shipping in North America. Dick, 79, also inherits a piece of the Schlitz brewing wealth. Based in Wisconsin, the duo solidified their support by injecting hefty sums into their conservative ‘Restoration PAC’ actively involved in various causes.
Joining the philanthropic queue is Jimmy John Liautaud. A mastermind behind his eponymous sandwich empire, Liautaud added his name into Trump’s donors.
Strangely, George Soros, a Hungarian-American business tycoon, generously financed Democratic endeavors nationwide, but his son, Alex, seems to be on a different trajectory, and signals suggest that he might diverge from his father’s line of political contribution. Only time will tell.
Monetary contributions for this election cycle saw a massive addition from Mike Bloomberg. He generously funded Future Forward, a super PAC. It initially backed Biden’s bid for re-election but now confusingly veers toward Harris, raising questions about its true agenda.
Jeffrey Katzenberg, previous Disney Studios chairman, had been a notable contributor for Democratic incentives. It’s intriguing to see these figures backing a party that typically presents itself as a champion for the common man. Yet, they get substantial support from billionaires, which seems counterintuitive.
An increase in political donations recently was seen from Arthur Blank, co-founder of Home Depot. The late entrant to the billionaire club, Taylor Swift, made an unanticipated move by endorsing Harris and received considerable attention from her cohort.