When it comes to presidential elections, what once resembled the Kentucky Derby has now become a Formula 1-style race. All with the help of billionaires who are pouring money into the scales of justice .
But which party is favored by the super rich? It turns out Vice President and Democratic candidate Kamala Harris is the favored candidate. Track the movements of the rich, Forbes found that 81 billionaires support Harris and about 51 billionaires support former president Donald Trump, as of publication time.
To boot, 28 billionaires have donated $1 million to Harris since August, each Forbes. This includes, but is not limited to, the former Meta Platform operator Sheryl Sandbergfounder Michael Bloombergand Hollywood directors Steven Spielberg. Others gave sizable gifts according to analysis by the Federal Election Commission and reports from Bloomberg. Notable figures who have made their mark include billionaires Shark tank judge Mark Cuban, who has publicly campaigned for Harris and Taylor Swift. The actual amount of donations will not be seen until the entire issue is resolved; EQUAL Forbes pointed out that the FEC’s final report will not be released until December.
Trump has less traction in the group than Harris, but there are still some big players making noise. The richest man in the world, Elon Muskcampaigned heavily for Trump, creating a suspiciously legal sweepstakes organized by his super PAC and funneled $74 million between July and September alone into said PAC for Trump.
While Harris may have the support of more billionaires, Trump is not far behind, largely due to donations from whales. In total, 26 billionaires have donated at least $1 million to Trump, according to estimates Forbes. His supporters who gave smaller gifts included venture capitalist Marc Andreessen and hedge fund manager Bill Ackman.
Billionaires support Harris, but not without paying a price
ONE report from wealth manager UBS found that millionaires also support Harris. Harris was favored over Trump by 971 investors surveyed, at 57% to 43% for Trump. Even so, they still prefer Trump over Harris on the economy by 51% and 49%, respectively.
Which some consider to be one of the most recent election In recent history, both political parties have claimed this race is of special importance. Some Wall Street giants is being stuck with Harris because of some other items on the ticket. More than 90 business leaders support herstating “Harris’s election is the best way to support the continued strength, security and reliability of our democracy and economy.”
However, that doesn’t mean the Democratic billionaire is willing to give away his entire fortune. While some in Harris’s party pCall for taxing the super rich As rampant wealth inequality grows, her billionaire backers are doing the opposite and signing a blank check.
Cuba has spoken out against its potential tax Harris Unrealized capital gains while participating in CNBC Squawk Box. He asserted that “will not happen”. And “if for some reason she lied about it, I would campaign against her to not get a second term.”
After hitting new fundraising milestones, Harris received a record amount of small-dollar donations when she announced her candidacy, reports time. So it’s not just the super-rich who keep her going.
Money talks, rich people whisper
Most recently, philanthropist and Microsoft co-founder Bill Gates stepped off the sidelines. “This election is very different,” he said in a statement New York Times, separately reported donating $50 million to Harris’ campaign.
However, Gates has steered clear of an actual endorsement, as has JPMorganChase CEO Jamie Dimon. Dimon has reportedly told colleagues he supports Harris, though has not disclosed this publicly because of fears of retaliation if Trump wins, the report said. time.
Similarly, Warren Buffett and Mark Zuckerberg are still mothers. Concerned about the potential of a deepfake AI using his image to endorse a candidate, Buffett says CNBC that “whatever they see in my sight or voice, it is not me.”
But for some, this election was enough to represent a real change of heart. With “so many advantages” in this election, philanthropist Melinda French Gates publicly endorsed a candidate while supporting Harris. Calling for a leader to protect reproductive rights, French Gates has apparently taken one make a significant contribution to her campaign.
