In a campaign that is shattering spending records, a handful of individuals are accounting for a massive splurge that is driving the ad spending voters are seeing on billboards and smartphones in battleground states.
Among them are billionaires who amassed fortunes in railroads, hedge funds, and shipping platforms.
The five top mega-donors are all backing Republicans, with Donald Trump relying on their support to try to counter the edge Kamala Harris has garnered among individual contributors.
Topping the list is Timothy Mellon, the grandson of leading financier and Pittsburgh native Andrew Mellon. He alone accounts for $172 million in campaign contributions, with $125 million going to the pro-Trump MAGA, Inc.
He also gave $25 million to American Values 2024, which backs Robert F. Kennedy, Jr., who ended his independent campaign and threw his support to Trump.
The former president put him on his transition effort and said he will take on health responsibilities in a future Trump administration.
Miriam Adelson, widow of longtime donor Sheldon Adelson, gave $100 to the pro-Trump Preserve America PAC
Next on the list is Miriam Adelson, widow of longtime donor Sheldon Adelson, who has kicked in $100 to the pro-Trump Preserve America PAC.
The staunch Israel supporter has made smaller strategic contributions as well, giving $1 million to Georgia Gov. Brian Kemps super PAC. Kemp reached a rapprochement with Trump after clashing with him over his 2020 election fraud claims. Kemp is now trying to put his organization behind Trump in a battleground state with no clear frontrunner.
The mega-donors have spent a combined $2.1 billion this election cycle, according to the Washington Post.
In all, the election has already seen a record $16 billion in campaign spending.
Elon Musk, the worlds richest man, has spent $75 million, but doesnt make the top five. He is holding events for Trump in battleground Pennsylvania
Richard and Elizabeth Uihlein, who run a huge shipping country based in battleground Wisconsin have given donations totaling $128 million, with $10 million going to Make American Great Again PAC.
New filings reveal Dick Uihlein gave nearly $49 million to the Restoration PAC, which then turned around to back pro-Trump groups such as Moms for Liberty Action, Women Speak Out PAC, and Turn Out For America, Forbes reported.
Trump-backing Elon Musk, the worlds richest man, has donated $75 million – but that doesnt even land him in the top five. He comes in at number six, but is boosting Trump in other ways.
Jeff and Janine Yass also come from a key battleground state, and have given $85 million
Republican hedge funder Kenneth Griffin has already topped $100 million in spending
Timothy Mellon accounts for $172 million in campaign contributions
Besides jumping up and down wildly at Trumps recent Butler, Pennsylvania rally, Musk is campaigning for Trump around the state and paying voters $100 who sign a petition in favor of free speech & right to bear arms.
Trump, after blasting electric car technology for months, has started speaking regularly about his amazement at watching Musks SpaceX spacecraft on television.
Jeff and Janine Yass also come from a key battleground state, and have given $85 million. Jeff Yass is the states richest man, and his Susquehanna International Group owns a 15 percent stake in ByteDance, parent company of TikTok. Trump has switched to opposing a U.S. ban on the Chinese-owned app.
Spending $101 million is Republican hedge funder Kenneth Griffin, the Citadel LLC CEO.
The only one of the top ten spenders this cycle backing the Democrats is Michael Bloomberg, who famously spent $1 billion on his ill-fated 2020 run. He was seated near Trump during his black tie speech at the Al Smith dinner in Manhattan Thursday. He gave $19-million to a pro-Harris super PAC.
The big bucks donations are fueling a massive TV ad blitz, get out the vote operations, polling, and organizational efforts on a mass scale. In Trumps case, outside PAC spending is covering some of the organizational ground game that campaigns traditionally handle.