US billionaire backers pour massive funds into Trump’s election campaign

Some of the world’s wealthiest individuals, led by conservative donor Miriam Adelson and tech billionaire Elon Musk, have contributed tens of millions of dollars to political groups supporting Donald Trump’s presidential campaign. 

Musk, who is the richest person globally, donated nearly $75 million to a pro-Trump super PAC he helped establish over the summer, significantly bolstering efforts to mobilize voters in key battleground states. Adelson, a committed Trump supporter and heir to a casino fortune, contributed even more, investing $95 million into another group backing the former president, based on filings with the Federal Election Commission for the quarter ending September 30, Caliber.Az reports via foreign media. 

In total, just three billionaires—Musk, Adelson, and packaging magnate Richard Uihlein—donated approximately $220 million in this three-month span to groups supporting the Republican candidate. Their substantial contributions highlight the pivotal role that a few billionaire megadonors are playing in Trump’s campaign as he aims to outpace his Democratic rival, Vice President Kamala Harris, amid a heated race. 

Harris has been raising funds at a rapid pace—bringing in $1 billion since becoming the Democratic nominee in late July, achieving this milestone faster than any other presidential candidate. Recent filings reveal that a high-dollar fundraising committee supporting her campaign and aligned Democratic committees raised $633 million in the third quarter, which is four times the amount raised by Trump’s equivalent fundraising operation during the same period. However, Harris’s team has urged supporters to contribute even more, emphasizing the billionaire support behind Trump’s campaign and their efforts to reach undecided voters in crucial battleground states that they hope will favor the vice president as Election Day approaches. 

Meanwhile, in the race for control of Congress, Democratic incumbents and candidates in important Senate and House contests have expanded their financial lead over Republican challengers, while wealthy Republican donors are working to narrow the gap by supporting a GOP super PAC aimed at securing a Senate majority. Musk has become a key player in Trump's campaign to reclaim the presidency. The America PAC, which Musk funds, has initiated a substantial door-knocking operation in states like Pennsylvania to support Trump—though the strategy of outsourcing a presidential campaign's field operations remains largely untested. Recent filings indicate that America PAC has spent nearly $96 million on the presidential race, with just under $57 million allocated to canvassing and fieldwork. 

The latest report from America PAC highlights seven contributions from Musk totaling nearly $75 million from July through September, marking his first donations to the group, which initially received funding from Musk’s former associates. During the third quarter, he was the sole donor to America PAC. According to independent expenditure filings, America PAC has become a vital ally for the Trump campaign, spending beyond September 30 to support not only the presidential race but also several competitive House contests, particularly in California and New York—key states for Republicans looking to maintain control of the House.

Adelson’s $95 million donation went to another prominent pro-Trump super PAC, Preserve America, which accounted for nearly all the funding the group collected during the July to September period. Adelson and her late husband, Sheldon, have been among the largest donors to Republican candidates over the past decade, and Miriam Adelson has contributed a total of $100 million to this group this year. Preserve America has almost exhausted its third-quarter funds, spending nearly $92 million on independent expenditures, primarily for advertisements. 

By Naila Huseynova