Reported 6 months ago
Prominent billionaires from Wall Street to Silicon Valley are increasingly supporting Donald Trump, narrowing his fundraising gap with President Joe Biden and gaining new momentum in the race for the White House. Billionaires are donating millions to his campaign, planning future donations, or expressing their intention to vote for him. In return, Trump is promising policy changes to benefit their businesses and potentially considering them as advisors if he returns to the White House. This shift in support marks a departure from Trump's previous campaigns that relied more on smaller contributors, with large contributors now making up a significant portion of his bankroll. Recent examples of elite support include Blackstone CEO Steve Schwarzman announcing his support for Trump after years of keeping his distance. Traditional GOP donors who previously supported other candidates are now backing Trump, as evidenced by a successful fundraising event at hedge fund manager John Paulson's home that raised over $50 million in one night. Trump is also garnering support from wealthy energy executives through promises of looser restrictions on activities like oil drilling if he wins, although this has raised concerns about potential campaign finance law violations. Additionally, there are signs of unexpected billionaire support for Trump emerging from Silicon Valley, with figures like venture capitalist David Sacks and Chamath Palihapitiya reportedly organizing a fundraiser for Trump despite their past donations to Democrats. The article highlights a trend of increasing billionaire support for Trump and the potential impact on his fundraising and campaign strategies.
Source: YAHOO