Washington: Amid the cutthroat competition between Kamala Harris and Donald Trump in the run-up to the November 5 US presidential election, the country’s billionaires are discreetly giving to either of the two contenders. While some, like Elon Musk, are vocal in their support, others such as Warren Buffett and Mark Zuckerberg, are choosing to remain on the sidelines, despite ongoing rumours and speculation about their political preferences.
According to Forbes, 76 billionaires are backing Kamala Harris, while 49 have been identified as supporters of Donald Trump. Many more billionaires may still throw their support behind a candidate, but their contributions won’t be publicly disclosed until the final Federal Election Commission reports are released in December, after the election.
Why Kamala Harris has US billionaires’ backing?
Despite Kamala Harris’s criticism of pro-billionaire policies, many ultra-wealthy individuals back her for pragmatic reasons. In a letter from over a dozen billionaires endorsing Harris, they highlighted her commitment to “fair and predictable policies” that promote economic stability.
Read More
This approach appeals strongly to Silicon Valley billionaires, who have known Harris since her time as a California prosecutor. A recent survey also found that industries like technology, healthcare, and sustainability are expected to flourish under a Harris presidency, further boosting her support among the wealthy.
Billionaires who have supported Harris
Among the 76 billionaires supporting Kamala Harris, 28 have contributed $1 million or more to groups backing her. Notable donors include:
- Michael Bloomberg (Former New York mayor, Bloomberg)
- Arthur Blank (Owner, Atlanta Falcons)
- Reid Hoffman (Co-founder, LinkedIn)
- Vinod Khosla (Founder, Khosla Ventures)
- Dustin Moskovitz (Co-founder, Facebook)
- Steven Spielberg (Hollywood director)
The most addition to this list is Microsoft co-founder Bill Gates who said he has donated approximately $50 million to a nonprofit organization supporting Kamala Harris’s presidential campaign, according to a report from The New York Times.
The donation was made to Future Forward, the primary outside fundraising group backing Harris. Gates has not publicly endorsed the Democratic candidate, who is running against Republican Donald Trump in the November 5 U.S. presidential election, and the contribution was intended to remain discreet.
Additionally, 36 billionaires have donated between $50,000 and $999,999. Some of these include:
- Tory Burch (Fashion designer)
- Reed Hastings (Co-founder, Netflix)
- Chris Larsen (Co-founder, Ripple)
- Laurene Powell Jobs (Widow of Steve Jobs, Apple)
Other prominent figures, such as Melinda French Gates, Joe Gebbia (Co-founder, Airbnb), and several high-profile individuals like Mark Cuban and Magic Johnson, have also financially supported or endorsed Harris through an open letter.
Trump’s billionaire backing
Donald Trump, who has positioned himself as a champion of both the ultra-wealthy and the working class, has secured the backing of 49 billionaires. Some of his most notable supporters include:
- Miriam Adelson (Las Vegas Sands Corp.)
- Don Ahern (Construction magnate, Las Vegas)
- Diane Hendricks (ABC Supply)
- Linda McMahon (WWE)
- Steve Wynn (Wynn Resorts)
An additional 16 billionaires have contributed between $50,000 and $999,999 to support Trump, including:
- Tilman Fertitta (Owner, Houston Rockets)
- John Paulson (Founder, Paulson & Co.)
- Thomas Siebel (Founder, Siebel Systems)
Tech mogul Elon Musk is also among Trump’s supporters, actively campaigning for him. Musk has appeared at a rally and offered incentives to swing state voters through his political action committee.
