A group of super-rich benefactors have emerged as key supporters of Republican presidential candidate Donald Trump, contributing over $50 million to his campaign against Democratic incumbent Joe Biden. As small donations decrease and some traditional Republican donors back away, these mega-donors play a crucial role in funding Trump’s campaign.
According to a Reuters analysis of Federal Election Commission data, the top five major donors to Trump include the 81-year-old heir to the Mellon banking family, who has donated at least $16.5 million to the pro-Trump Super PAC MAGA Inc. Since 2022. Another major donor is former Marvel Entertainment chairman Isaac “Ike” Perlmutter and his wife Laura, who have contributed over $10 million to a new Trump Super PAC called Right for America.
Linda McMahon, former head of the Small Business Administration in the Trump administration, has donated more than $10 million to MAGA Inc. The 79-year-old hotel magnate from Nevada, Bigelow, has also contributed over $9 million to Trump’s campaign. The major donor of Scientology Church, Patricia Duggan, has donated over $5 million this election cycle.
These wealthy donors play a significant role in financing Trump’s campaign, as they provide crucial financial support in a landscape where traditional donors may be less inclined to contribute. Their contributions underscore the importance of big donors in American politics and the role they play in shaping election outcomes.
The decline in small donations suggests that supporters are becoming less enthusiastic about Trump’s candidacy or that they are being courted by other candidates with more progressive policies.
As we approach election day, it will be interesting to see how much money these mega-donors continue to pour into Trump’s campaign and whether it will be enough to secure him another term as president.
The influence of big money on politics is always a hotly debated topic, but it is clear that these wealthy supporters play a significant role in shaping election outcomes for candidates like Donald Trump.