Billionaire Timothy Mellon Donates $50 Million to Trump Super-PAC, Setting Record for 2024 Election; Michael Bloomberg Contributes $19 Million to Biden Campaign

Featured & Cover Billionaire Timothy Mellon Donates $50 Million to Trump Super PAC Setting Record for 2024 Election; Michael Bloomberg Contributes $19 Million to Biden Campaign

Timothy Mellon, a billionaire born into one of America’s wealthiest families, has contributed $50 million to the Trump campaign super-PAC, Make America Great Again Inc., as revealed in federal filings on Thursday. This donation is now recognized as the largest individual contribution disclosed in the 2024 election cycle.

Mellon, 81, formerly served as the chairman of Pan Am Systems Inc., a private manufacturing and transportation enterprise. This year, he intends to publish a memoir about his tenure as chairman, titled “panam.captain,” through Skyhorse Publishing.

The federal documents indicate that Mellon made his substantial donation on May 31, 2024, just a day after Trump was convicted of 34 felonies by a New York state court in a significant hush-money case. Additionally, Mellon has contributed at least $20 million to Robert F. Kennedy Jr.’s campaign, who is running as an independent candidate in the 2024 presidential race, according to the BBC.

TIME has contacted the Trump and Robert F. Kennedy Jr. campaigns for comments and further information.

Forbes reports that Mellon is the great-grandson of Thomas Mellon, an Irish immigrant who arrived in the U.S. in 1818. Thomas Mellon was a lawyer and judge who invested in various real estate and banking ventures. By his death, he had accumulated a substantial fortune, which his sons inherited. Today, the Mellon family is worth around $14.1 billion, ranking them as the 34th wealthiest family in America.

On the other side of the political spectrum, the Biden campaign has also attracted significant donations. The Washington Post revealed that billionaire Michael Bloomberg donated $19 million to the Future Forward (FF) PAC, a pro-Biden political action committee. Additionally, Bloomberg gave another $929,600 to the Biden Victory Fund.

Timothy Mellon’s substantial contribution to the Trump campaign comes at a pivotal moment, highlighting the ongoing financial battles in the 2024 election. Mellon’s donation, made a day after Trump’s legal conviction, underscores his commitment to Trump’s political future despite the former president’s legal troubles. Trump’s conviction in a landmark hush-money trial has not deterred Mellon from providing significant financial support. The timing of this donation could be seen as a statement of defiance and unwavering support for Trump’s agenda.

Mellon’s other major political contribution is to Robert F. Kennedy Jr.’s campaign, showcasing his willingness to support multiple candidates who align with his views. This $20 million donation to Kennedy’s campaign signifies Mellon’s broader influence on the 2024 presidential race, as he backs an independent candidate challenging the traditional two-party system.

Forbes’ profile of Mellon’s ancestry paints a picture of a family that has long been embedded in American wealth and influence. Thomas Mellon’s success in law and real estate laid the foundation for the Mellon family’s vast fortune, which continues to impact American society and politics today. With an estimated worth of $14.1 billion, the Mellon family remains a powerful force in the country’s economic landscape.

In parallel, the Biden campaign’s receipt of large donations underscores the high stakes of the upcoming election. Michael Bloomberg’s $19 million contribution to the Future Forward PAC and the additional funds to the Biden Victory Fund illustrate the financial muscle behind Biden’s campaign. Bloomberg’s significant support for Biden reflects his belief in the current president’s vision for America’s future. Bloomberg, a former mayor of New York City and a billionaire himself, has consistently supported Democratic causes and candidates, using his wealth to influence the political landscape.

The battle for campaign funds in the 2024 election highlights the broader contest between major political donors and their respective candidates. Timothy Mellon and Michael Bloomberg represent two sides of this financial arms race, each backing candidates they believe will best serve their interests and visions for the country.

Mellon’s memoir, “panam.captain,” expected to be published by Skyhorse Publishing, will provide insights into his experiences as chairman of Pan Am Systems Inc. This publication will likely offer a deeper understanding of Mellon’s business acumen and his perspectives on industry and transportation. His leadership at Pan Am Systems has been a significant part of his career, and this memoir could shed light on the principles that guide his business and political decisions.

Overall, the donations from Mellon and Bloomberg to their respective political causes reflect a broader trend of billionaires using their wealth to influence American politics. The substantial contributions from these individuals underscore the critical role of money in modern election campaigns. These donations not only support the candidates but also shape the political discourse and strategies leading up to the 2024 election.

As the election approaches, the financial backing from major donors like Mellon and Bloomberg will play a crucial role in determining the resources and reach of each campaign. Their support highlights the intersection of wealth and politics in the United States, where financial power can significantly impact electoral outcomes. The influence of these billionaires extends beyond their donations, as they bring attention to the candidates and issues they support, swaying public opinion and mobilizing voters.

Timothy Mellon’s $50 million donation to Trump’s campaign and Michael Bloomberg’s $19 million contribution to Biden’s campaign underscore the immense financial stakes in the 2024 presidential election. Mellon’s additional support for Robert F. Kennedy Jr. further emphasizes his strategic political investments. These significant contributions from wealthy individuals highlight the critical role of money in shaping the future of American politics. As the campaigns progress, the impact of these donations will become increasingly evident, demonstrating how financial power can drive political change in the United States.

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