Get to know the top donors to Joe Biden, Donald Trump and Robert F. Kennedy Jr.
President Joe Biden significantly expanded his fundraising lead over former President Donald Trump in February. The current president ended the period with cash on hand double that of his predecessor, with Biden’s campaign reporting $71 million cash on hand, compared to Trump's $33.5 million.
Recent polling shows Biden lagging Trump; however, the cash advantage will come in handy for the Democratic frontrunner, allowing him to run an aggressive campaign, particularly in swing states where elections are decided by slim margins.
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In February, Biden’s campaign raised $21.3 million and spent $6.3 million, while Trump’s campaign raised $10.9 million and spent $7.8 million, according to campaign filings.
Trump’s fundraising is being hampered due to the overwhelming weight of his legal bills. The pro-Trump PAC, Save America, has spent around $65 million in legal expenses through the end of 2023. As reported by USA TODAY, MAGA Inc., another pro-Trump super PAC, has transferred tens of millions of dollars to Save America as “contribution refunds.” MAGA Inc. is refunding the $60 million donation from 2022 and can keep doing so until mid-April.
Notable funders of MAGA Inc. include Timothy Mellon, the heir to the Mellon Bank fortune and a top donor to Trump’s 2020 campaign, Linda McMahon, co-founder of World Wrestling Entertainment, conservative multibillionaire Diane Hendricks, and two oil billionaires from Texas.
In February, the group got another significant donor, Robert Bigelow, who was the top contributor to Ron DeSantis’s now-defunct presidential campaign. Bigelow, a real estate investor, donated $5 million to MAGA Inc.
President Biden’s contributors include a mix of progressive super PACs, labor unions, and tech firms supporting his campaign. Overall, outside groups have already poured hundreds of millions of dollars into the race.
Trump’s primary donor, Timothy Mellon, is also backing Robert F. Kennedy Jr.’s independent presidential bid. Mellon has contributed $20 million to Kennedy’s super PAC, American Values 2024, formerly known as the People’s Pharma Movement. The group funded Kennedy’s controversial Super Bowl ad earlier this year, largely supported by a $4 million contribution from philanthropist Nicole Shanahan, who is now Kennedy’s running mate.
His campaign is strapped for cash, ending February with $5 million in the bank, while American Values 2024 closed the month with $18.5 million. American Values 2024 intends to spend most of that money towards securing ballot access in states. Campaign finance records show that the super PAC paid at least three ballot access consultants in February.
The super PAC raised $4.2 million in February, mainly due to a $4 million contribution from Gavin de Becker, an author and celebrity security expert. Becker had previously donated $10 million to the super PAC, which was later converted into a loan. Gavin de Becker and Associates LP has received about $2.1 million in expenses from Kennedy’s campaign since 2023, according to campaign filings.
The Democratic National Committee has filed a federal election complaint against Kennedy’s campaign, alleging illegal benefits from American Values 2024.
About the data
Donor data is as of March 6, 2024. OpenSecrets combines contributions from companies and organizations. Since companies themselves aren’t allowed to donate to campaigns, they typically make donations through family members, owners and employees. The data includes money donated to the campaign and to single-candidate hybrid PACs or super PACs.
This article originally appeared on USA TODAY: Who are Biden, Trump and RFK Jr.'s top donors?
