When it comes to presidential elections, what used to be something like the Kentucky Derby has turned into an F1-style race. It’s all courtesy of billionaires who are funneling money into the scales of justice.
But which side do the super-rich support? Vice President and Democratic candidate Kamala Harris has emerged as the favorite. Tracking the movements of the wealthy, forbes At the time of publication, 81 billionaires supported Harris, while about 51 supported former President Donald Trump.
What’s more, 28 billionaires have reportedly donated $1 million to Harris since August. forbes. This includes, but is not limited to, former Meta Platform executives. sheryl sandbergfounder michael bloombergHollywood film director steven spielberg. Some donated large gifts, according to a Federal Election Commission analysis and the report below. bloomberg. Celebrities who left their names include billionaires shark tank Judge Mark Cuban and Taylor Swift have publicly campaigned for Harris. The true depth of donations will not be known until all issues are resolved. as forbes He notes that the FEC’s final report won’t be issued until December.
Mr. Trump has lower approval ratings than Ms. Harris, but there are still some big names making a fuss. Elon Musk, the richest man in the world, is running a massive campaign for Trump. questionable whether it’s legal The sweepstakes, organized by Trump’s super PAC, funneled $74 million to the PAC from just July to September.
Ms. Harris may have the support of more billionaires, but Mr. Trump is not far behind, thanks in large part to donations from whales. In total, 26 billionaires are estimated to have donated at least $1 million to Trump. forbes. His backers who have donated small gifts include venture capitalist Marc Andreessen and hedge fund manager Bill Ackman.
Billionaires support Harris, but at a cost
a report Billionaires also support Harris, according to asset management firm UBS. Among the 971 investors surveyed, Harris had a higher approval rating than Trump, with 57% favoring Trump and 43% favoring Trump. Still, voters favor Trump over Harris by a narrow margin on the economy, at 51% and 49%, respectively.
What some people think is one of them. recent elections Throughout recent history, both political parties have argued that this election is extremely important. some giants of wall street Harris is stuck because of other items on the ticket. 90+ business leaders supported herHarris said, “Elections are the best way to support the continued strength, security, and credibility of our democracy and economy.”
But that doesn’t mean billionaire Democrats are ready to give up all their wealth. Meanwhile, within Harris’ own party,Hurry up on taxing the super rich As the gap between rich and poor widens, her billionaire supporters are doing the opposite of signing blank checks.
Cuba opposed that possibility. Harris taxation Unrealized capital gains on CNBC squawk box. He declared that it “won’t happen.” And, “If for some reason she lies, I will campaign against her to prevent her from getting a second term.”
Reaching a new fundraising milestone, Harris reported that she received a record number of small donations when she announced her candidacy. times. In other words, it’s not just the super wealthy who are supporting her.
Money speaks, the rich whisper.
Just recently, philanthropist and Microsoft co-founder Bill Gates stepped off the sidelines. “This election is different than any previous one,” he said in a statement. new york times, He privately reported that he donated $50 million to the Harris campaign.
But Gates, like JPMorgan Chase CEO Jamie Dimon, has avoided any real endorsements. Mr. Dimon reportedly told colleagues that he supports Ms. Harris, but has not said so publicly for fear of retaliation if Mr. Trump wins, the report said. times.
Warren Buffett and Mark Zuckerberg are similarly silent. Buffett said he is concerned about the possibility of AI deepfakes using his likeness to endorse candidates. CNBC “Everything they see in my appearance and voice is not me.”
But for some, this election was enough to signal a real change of heart. Melinda French Gates, a philanthropist who has been “high on board” this election, openly supported one candidate when she endorsed Harris. In search of leaders who champion reproductive rights, French Gates reveals great contribution to her campaign.
