Donald Trump may not have been particularly pleased when he was found guilty of 34 counts of white collar fraud for political reasons in a Manhattan court at the end of May. But the next day he received some good news: billionaire Timothy Mellon donated $50 million to the pro-Trump super PAC “Make America Great Again Inc.” (Note: Some media outlets report that it was the same day as the sentencing, but the majority claim it was the day after.))
Mellon’s millions, according to recent election records, helped Trump raise more money than Biden in May, meaning the former president has now outraised the incumbent for two months in a row. As RedState’s Nick Arama reported, that puts Trump comfortably ahead in the overall fundraising race.
The massive contribution is an critical reason for this:
Mellon’s donation is now the largest single donation of the 2024 campaign, and the conservative billionaire is the first to announce total campaign donations of more than $100 million this year.
Mellon’s donation made up the lion’s share of the $68.8 billion MAGA Inc. raised in May – and was a huge boost to the Super PAC, which already had $34.4 million on hand at the end of April.
Mellon’s massive contribution led to a record Donation month for the Trump campaign and the Republican National Committee, as they received $141 million compared to the $85 million raised by the Biden campaign and the Democratic National Committee.
🚨 JUST IN: Timothy Mellon, the super-rich banking heir, made a HUGE $50 MILLION donation to the Trump campaign the day after former President Donald Trump was convicted in New York. pic.twitter.com/NbSKf2Nuj4
— Proud Elephant 🇺🇸🦅 (@ProudElephantUS) 21 June 2024
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Mellon has donated heavily before, giving at least $25 million to RFK Jr.’s campaign, including $5 million in April. He certainly has the money:
FORBES RATING
We estimate the Mellon family’s net worth to be $14.1 billion. The Mellons are the heirs to one of the oldest standing fortunes in American history, dating back to 1841. Timothy’s predecessors built their wealth by investing in real estate, banking, venture capital and oil.
The Trump team wasted no time in using the money and immediately began making plans for an advertising campaign.
The donation’s impact on the 2024 race is expected to be felt almost immediately. A few days after the donation, the pro-Trump super PAC Make America Great Again Inc. said: in a memo that the company would begin setting aside $100 million for advertising by Labor Day.
Naturally, Democrats went on the offensive after this news, saying the “reclusive” billionaire was showing divided loyalties by giving so much to two candidates and noting that Mellon came from an venerable money family. Former Clinton Labor Secretary and staunch leftist Robert Reich argued that success in America should not be rewarded and that the government should have taken the Mellon family’s money long ago:
Trump’s biggest donor and RFK Jr.’s biggest donor are the same man: Nepo-Baby billionaire Timothy Mellon, grandson of 1920s banking magnate Andrew Mellon.
In this way, the wealth of our dynasties corrupts our politics. pic.twitter.com/h1fuQIcwqZ
— Robert Reich (@RBReich) May 24, 2024
Biden’s biggest donor so far is billionaire and former New York mayor Michael Bloomberg, who recently donated $20 million to support the President’s campaign. But for now, at least, the former President has the edge as the campaign heats up and we prepare for the first presidential debate on June 27. Buckle up.
