8 billionaires who are supporting Donald Trump's 2024 campaign: From Elon Musk to Harold Hamm
8 billionaires who are backing Donald Trump's 2024 election campaign
After backing Donald Trump's primary opponents or disavowing him when he left office, billionaire megadonors are stepping up to the former president, helping him overtake President Joe Biden's early fundraising lead by contributing sizable sums to support his candidacy or trying to come up with strategies to secure him a win. Let us take a look at eight billionaires who are rallying behind Trump’s 2024 election campaign.
1. Elon Musk
Tesla CEO Elon Musk, who is valued at $210.4 billion, is rallying behind Trump in the typically liberal Silicon Valley tech sector. Despite announcing that he won't be donating to any candidate this year, Musk is actively trying to keep Biden from winning his reelection bid. He convened meetings of corporate executives to talk about strategies to fight Biden, as reported by the Wall Street Journal, and even met with Trump in March at Peltz's Palm Beach home, according to The Washington Post.
2. Harold Hamm
Harold Hamm, the founder of Continental Resources and a close friend of Trump, who previously contributed to the primary campaigns of Nikki Haley and Ron DeSantis, was present at the now-famous April Mar-A-Lago dinner with oil executives, where the former president allegedly made industry-friendly policy pitches in exchange for a $1 billion donation. In May, Hamm, whose net worth stands at $18.5 billion, also co-hosted a Trump fundraiser in Houston, according to Reuters.
3. Bernie Marcus
Politico reports that in the second half of 2023, Bernie Marus, the co-founder of Home Depot, donated $1 million to MAGA Inc, the principal super PAC supporting Trump. In addition, the billionaire businessman co-hosted an Atlanta event for the former POTUS in April.
4. Kelcy Warren
According to FEC filings, the founder of Energy Transfer Pipeline Company, Kelcy Warren, gave upwards of $800,000 to Trump's campaign apparatus, the Trump 47 Committee, in the first quarter. Though he was a major supporter of Trump during his 2020 reelection bid, the businessman did initially contribute to DeSantis' primary campaign in June 2023. Warren co-hosted the Houston fundraiser in May alongside Hamm.
5. Linda McMahon
Linda McMahon, who co-founded World Wrestling Entertainment (WWE) with her husband Vince McMahon, contributed $11 million to support Trump this election cycle. She also held the position of administrator of the US Small Business Administration from 2017 to 2019 under Trump and is the chair of the America First Policy Institute, which advances his agenda.
6. Stephen Schwarzman
After years of not endorsing a specific Republican for president, billionaire businessman and lifetime Republican Stephen Schwarzman declared in May that he would "vote for change" and support Trump's candidacy. "The dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency. I share the concern of most Americans that our economic, immigration, and foreign policies are taking the country in the wrong direction. For these reasons, I am planning to vote for change and support Donald Trump for President," said the CEO of the Blackstone Group in a statement.
7. John Paulson
Billionaire hedge fund manager John Paulson, who is supposedly on Trump's shortlist for Treasury Secretary, sponsored a $50 million event for the politician in April at his Palm Beach home and co-hosted a Manhattan gala in May alongside fellow billionaires John Catsimatidis and Woody Johnson.
8. Steve Wynn
Listed as a co-host at Paulson's Palm Beach fundraiser, Steve Wynn, the former casino mogul and Republican National Committee's finance chair, was sued by the Justice Department in 2022 for allegedly lobbying Trump on behalf of the Chinese government. In the first quarter of 2024, Wynn gave over $800,000 to the Trump 47 Committee.
