A growing number of billionaire business figures are financially backing the presidential race this year, with most pouring millions into Donald Trump’s campaign. However, an increasing number are also supporting Kamala Harris. Axios has researched which billionaires are donating to the candidates, and here’s a breakdown:
Elon Musk
Tesla CEO Elon Musk has become one of the newest Republican megadonors, contributing nearly $75 million over the past three months to a Trump-supporting PAC. Musk, who has gained influence in Republican circles, frequently uses his platform on X to address GOP concerns, particularly around immigration and transgender issues. He endorsed Trump following the first assassination attempt against the former president in July and appeared at a Trump rally earlier this month.
Timothy Mellon
Billionaire businessman Timothy Mellon is one of Trump’s most significant financial supporters, donating $125 million to the pro-Trump Super PAC “Make America Great Again” during this election cycle, according to OpenSecrets. Mellon has also provided $25 million to support Robert F. Kennedy Jr.’s independent presidential run and another $10 million to the Congressional Leadership Fund, a group that backs GOP House candidates.
Miriam Adelson
Miriam Adelson, widow of casino mogul Sheldon Adelson and a strong advocate for Israel, donated $95 million to her pro-Trump PAC, Preserve America, during the third quarter of the year, as per an FEC filing. Despite facing criticism from Trump earlier this year regarding the PAC’s management, the two have since reconciled and appeared together at a recent event focused on combatting antisemitism. Miriam Adelson and her late husband were Trump’s largest donors in 2020.
Dick and Liz Uihlein
Founders of shipping company ULine, Dick and Liz Uihlein have funneled nearly $49 million into their conservative Restoration PAC in the last quarter of the year, bringing their total donations to the PAC to roughly $59 million for 2024. Their Restoration PAC contributed more than $19.5 million to conservative groups, including Moms for Liberty, which seeks to limit discussions of race, gender, and sexuality in schools, and the anti-abortion group Women Speak Out PAC. The Uihleins have also given $10 million to the Make America Great Again Super PAC, according to reports.
Mike Bloomberg
Billionaire Mike Bloomberg has donated $19 million this election cycle to Future Forward, a Super PAC supporting Kamala Harris, as reported by Politico. Bloomberg has also contributed $7 million to a PAC affiliated with Everytown for Gun Safety and $10 million to the House Majority PAC, which supports Democratic House candidates.
Reid Hoffman & Michelle Yee
LinkedIn co-founder Reid Hoffman and his wife, Michelle Yee, are prominent Democratic donors. They have contributed $10 million to the Future Forward PAC, which supports Kamala Harris, and $6 million to the anti-Trump Republican Accountability PAC. Additionally, they have given more than $2 million to the One for All Committee, a left-leaning PAC focused on persuading moderate women to back Democratic candidates.
These billionaires’ contributions underscore the growing influence of wealth in this year’s presidential race, with both Republican and Democratic candidates benefitting from vast sums to fuel their campaigns.
