Fundraising and Battle: Trump's Mega Donors in Focus

Donald Trump is increasingly relying on fundraising supported by megadonors, including Elon Musk's America PAC, to secure his return to the White House. The Tesla CEO himself has contributed around $75 million, while Musk's Political Action Committee (PAC) has already spent more than $96 million on Trump, as reported by OpenSecrets. Other prominent supporters of America PAC include billionaire tech entrepreneurs Cameron and Tyler Winklevoss, early Tesla investor Antonio Gracias, Palantir Technologies co-founder Joe Lonsdale, Sequoia partner Shaun Maguire, and Doug Leone, a former managing partner of the firm. Musk, who endorsed Trump in July, sees the presidential election as the last chance for democracy in the country and claims that illegal immigrants will take over if Kamala Harris wins. In an effort to win the crucial swing state of Pennsylvania for the Republicans, Musk has initiated a series of talks in the state, where participants must sign a petition for free speech and gun ownership rights. America PAC has also hired campaign workers in Pennsylvania and Michigan, with the group's website promising an entry-level salary of $30 per hour. The group also offers $47 — a nod to the next 47th president — for each registered voter who signs the petition. Pro-Trump groups have raised $1.4 billion in this election cycle, with nearly half coming from super PACs that can accept unlimited contributions from individuals. According to the latest financial data, just three individuals — Musk, philanthropist Miriam Adelson, and shipping magnate Dick Uihlein — contributed a combined $220 million in the third quarter. In addition to Musk's $75 million for America PAC, Adelson donated $95 million to Preserve America, and Uihlein gave about $49 million to Restoration PAC. Vice President Kamala Harris continued her media offensive with an appearance on Fox News to gain ground against Trump. This media strategy, aimed at specific demographic groups, is a risky endeavor to reach a broader voter audience, as some leading Democrats are concerned she is struggling to position herself against her rival. In her first Fox address, Harris targeted centrists and Trump-critical Republicans, promising a departure from Biden. She also spoke with radio host Charlamagne tha God, popular among young Black people, and is rumored to be considering an interview with controversial podcaster Joe Rogan, who has a large young male audience. Recent financial data reveal that Harris surpassed Trump in the third quarter with $500 million, bringing her campaign along with allied groups $870 million from July to September, compared to Trump's $366 million. The Democratic party ticket is expected to raise more in 2024 than it did during the Biden-Harris campaign in 2020. Groups supporting Harris and Biden received $1.68 billion this year, almost as much as the total donations for the presidential campaign four years ago. Interestingly, Harris is receiving more small-donor contributions — those contributing $200 or less — than Biden did in 2020. She received more than 600,000 donations in the first two days of her candidacy, surpassing Biden's best days of contributions in 2020. Another highlight was receiving 500,000 contributions on the day Tim Walz was named as her vice-presidential candidate and 400,000 at her official nomination. Meanwhile, Trump's support from small donors is weakening: Around 300,000 people donated in the three days following the Butler assassination attempt. This is compared to 1 million after his conviction in the hush-money trial and about 300,000 fewer donations in the third quarter compared to the same campaign period in 2020.