Donald Trump’s campaign for the presidency has received a substantial financial boost of $50 million from conservative billionaire Timothy Mellon, according to a federal filing disclosed on Thursday.
The “MAGA Inc” Super-PAC reported raising over $68 million from donors in the previous month to the Federal Election Commission.
Reports has it that Timothy Mellon, who is part of the renowned Pittsburgh Mellon banking family, has contributed $50 million. An additional $10 million was donated by billionaires Liz and Dick Uihlein.
Notably, Mellon made his donation a day after Trump was indicted on 34 counts of falsifying business records in the hush-money case in New York.
Mellon has also significantly supported independent presidential candidate Robert F. Kennedy Jr., donating at least $20 million to the pro-Kennedy Super-PAC American Values.
Super-PACs, or independent political action committees, can collect unlimited funds to back a candidate’s campaign.
This donation has allowed Trump’s supporters to outpace those of President Joe Biden in campaign spending in recent weeks.
Mellon, who resides in Wyoming and is known for his low public profile, is an amateur pilot and has led investments in various transportation companies.
The Mellon family’s net worth is estimated at around $14.1 billion by Forbes.
Donald Trump’s campaign for the presidency has received a substantial financial boost of $50 million from conservative billionaire Timothy Mellon, according to a federal filing disclosed on Thursday.
The “MAGA Inc” Super-PAC reported raising over $68 million from donors in the previous month to the Federal Election Commission.
In parallel, Reuters reported that billionaire Mike Bloomberg has contributed nearly $20 million to Biden-supporting Super-PACs, with $19 million going to the pro-Biden group Future Forward (FF PAC) and an additional $900,000 to the Biden Victory Fund.
The Biden campaign has not yet commented on these contributions.
In contrast, the pro-Kennedy Super-PAC reported receiving only about $280,000 last month, with no additional funds from Mellon.