According to Taylor Budowich, CEO of a major PAC, the Trump campaign and its closest allies raised nearly $370 million in May, closing the financial gap between former President Donald Trump and President Joe Biden with the help of billionaire donors.
Most of the fundraising came after a felony conviction in New York, with the RNC and the campaign claiming they had outraised the Biden campaign in April. However, official reports are pending until June 20 and July 15 for a full disclosure of finances.
Records show that Trump and affiliated committees received millions from politically active billionaires, while the Biden campaign is also supported by wealthy donors sending gifts to various PACs and fundraising committees.
Miriam Adelson, widow of casino magnate Sheldon Adelson, plans to spend more on the 2024 election than her late husband did in 2020, likely supporting the super PAC Preserve America. Financial moves by PACs will be publicly known in July. Adelson was a major spender in previous election cycles, with Trump awarding Ms. Adelson the Presidential Medal of Freedom in 2018.
Notable donors include philanthropist Timothy Mellon and Robert Bigelow, who rank among the top spenders of the 2024 election cycle and have supported Trump in various capacities. Ken Griffin, CEO of Citadel, is also a significant donor in the current election cycle.
Griffin has spent nearly $60 million in the presidential race, and he is set to make an impact alongside former Trump administration officials at an event called the “Great Opportunity Policy Summit.” Other attendees at the summit include Sen. Tim Scott, billionaires Marc Rowan, Marc Andreessen, Bill Ackman, and Jacob Helberg. Additionally, other deep-pocketed donors like Doug Leone, Linda McMahon, Robert Johnson IV, Tim Dunn, Harold Hamm, Kelcy Warren, and Diane Hendricks have shown their support for former President Trump through significant financial contributions. It is also speculated that more wealthy backers like Stephen Schwarzman and Nelson Peltz may soon join in supporting the former president. Peltz does not qualify as a major donor, however, as per OpenSecrets, he regularly contributes to the RNC.
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