Single Donor Boosts Trump Campaign with $50m
TL/DR –
Billionaire Timothy Mellon has donated $50m to Donald Trump’s campaign, according to a federal filing. The money was given to the Super-Pac fund “MAGA Inc,” which reported more than $68m in donor contributions last month. Mellon’s donation, made the day after Trump was convicted on 34 charges of falsifying business records, has helped Trump’s allies outspend those of President Joe Biden in recent campaign efforts.
Timothy Mellon’s $50M Donation Boosts Donald Trump’s Presidential Campaign
MAGA Inc, a Super-Pac fund supporting Donald Trump’s presidential campaign, disclosed a significant $50m donation from conservative billionaire Timothy Mellon, as shown in a federal filing. This boosts the fund’s recent income, which reportedly exceeded $68m from various donors.
Significant Contributions from Big Donors
Reuters reports that $50m of the Super-Pac’s funds came from Mellon himself, an heir to the Pittsburgh-based Mellon banking fortune. Other significant contributions include $10m from billionaires Liz and Dick Uihlein. This large inflow of funds happened right after Trump’s conviction on 34 counts of business record falsification in his New York hush-money trial.
Super-Pacs and Their Influence in Political Campaigning
Super-Pacs are independent “political action committees” that can raise unlimited amounts to back an election candidate. Mellon’s generosity helps Trump’s campaign outspend President Joe Biden’s supporters in recent campaigning efforts. Notably, Mellon, a resident of Wyoming and an amateur pilot, is a significant supporter of independent candidate Robert F Kennedy Jr, having donated at least $20m to his pro-Kennedy Super-Pac, American Values.
Other Significant Political Donations
According to Forbes, the Mellon family has an estimated net worth of around $14.1bn. Meanwhile, Reuters also reported that billionaire Mike Bloomberg has donated nearly $20m to Super-Pacs supporting Biden. Bloomberg’s contributions include $19m to FF PAC, an independent pro-Biden group, and an additional $900,000 to the Biden Victory Fund, a collaborative effort of the Biden campaign and Democratic Party committees.
Recent Super-Pac Fundraising Reports
The pro-Kennedy Super-Pac reported a meager income of $280,000 last month, with none of it coming from Mellon. The Biden campaign, however, has not yet commented on these recent donations.
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