Donald Trump’s presidential campaign has gained significant financial support with a $50 million donation from conservative billionaire Timothy Mellon, according to a federal filing disclosed on Thursday.
The “MAGA Inc” Super-PAC, aligned with Trump’s campaign, reported to the Federal Election Commission that it raised over $68 million from donors in the past month. Reuters identified Mr. Mellon, an heir to the Pittsburgh-based Mellon banking fortune, as the source of the $50 million contribution. Additionally, billionaires Liz and Dick Uihlein contributed $10 million.
Reports indicate that Mr. Mellon made his donation the day after Trump was indicted on 34 charges of falsifying business records in his New York hush-money trial. Besides supporting Trump, Mr. Mellon has been a major donor to independent presidential candidate Robert F. Kennedy Jr., providing at least $20 million to the pro-Kennedy Super-PAC American Values.
Super-PACs are independent political action committees that can raise unlimited funds to support election candidates. The substantial donation from Mr. Mellon has allowed pro-Trump groups to outspend those supporting President Joe Biden in recent weeks.
Timothy Mellon, who resides in Wyoming and is seldom photographed, is an amateur pilot with investments and leadership roles in transport-related companies. Forbes estimates the Mellon family’s net worth at approximately $14.1 billion.
In contrast, Reuters reported that billionaire Mike Bloomberg has contributed nearly $20 million to Biden-supporting Super-PACs, including $19 million to Future Forward (FF PAC) and $900,000 to the Biden Victory Fund, a coalition of the Biden campaign and Democratic Party committees. The Biden campaign has not yet responded to requests for comment.
On the other hand, the pro-Kennedy Super-PAC reported raising only around $280,000 last month, with no recent contributions from Mr. Mellon.
