Posted on 07/05/2025 8:51:08 AM PDT by MinorityRepublican
The influence of billionaires on American politics has never been more evident, with the wealthiest people in the US spending record amounts during the 2024 presidential election.
Analysis by the Americans for Tax Fairness group earlier this year showed that 100 billionaire families donated $2.6 billion to candidates for last November's election, more than two-and-a-half times the amount spent in 2020.
The billionaires "heavily favoured Republicans", the report said, with 70% of their donations going to the GOP, helping Donald Trump back into the White House.
The "eye-popping amounts speak to the shifts in political power granted to the affluent and corporations" since "unlimited campaign donations" were permitted in 2010, said The Guardian.
Most of the US's 800 billionaires do not publicly back presidential candidates, but others are more than happy to stand at the forefront.
So who is continuing to back Trump and his Maga agenda, and who is risking the administration's ire and standing firm with the leaderless Democrats?
Elon Musk: Republicans The Tesla, X and SpaceX boss emerged as one of the most vocal Trump supporters – and prominent donors – during the election campaign. He spent more than a quarter of a billion dollars backing Trump and other Republican candidates, according to Federal Election Commission filings reported by CBS News. While this made him the largest donor in the 2024 election cycle to either party, it represented just a fraction of his estimated $351 billion fortune.
(Excerpt) Read more at theweek.com ...
You can bet that the “smart” money is backing both sides against each other.
This surprises me, and I wonder how it compares with other election cycles. I’ve read that the wealthiest counties in the US are mostly those around Washington DC for example, and vote 70% Democrat based on the bureaucracy they represent. But I guess those are mere millionaires.
Far left Billionaire Nazis or just normal people who were intelligent enough to make lots of money?
Suck spent millions in 2020 backing Biden……..and eventually took a lot of flack for it.
Musk buying Twitter is the game changer.
Wealth tax. That’s what they need. They vote democrat and we might as well adopt the lefts’ policy on them.
I’m a Trillionaire and I back myself.😉
Seems like he has learned from the experience. The Biden Administration took advantage of Zuckerberg. It would explain on why he ended up backing Trump in 2024.
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