Single Biggest Trump Campaign Donation Revealed: Timothy ...

21 Jun 2024

Forbes

Topline

Billionaire Timothy Mellon donated $50 million to a super PAC supporting Donald Trump as part of a major influx of funding that helped the former president’s campaign outraise President Joe Biden in May.

Donald Trump's campaign outraised President Joe Biden's campaign again in May.

Getty Images Key Facts

Federal filingss show Mellon donated $50 million to pro-Trump super PAC, Make America Great Again Inc., on the same day the former president was convicted on 34 felony charges in the New York hush-money case.

Mellon’s donation is now the largest individual contribution of the 2024 election season and the conservative billionaire is the first to disclose more than $100 million in overall campaign contributions this year.

Mellon’s donation made up a lion’s share of the $68.8 billion raised by MAGA Inc. in May—and a major boost for the super PAC, which already had $34.4 million on hand at the end of April.

The massive contribution from Mellon led a bumper fundraising month for the Trump campaign and the Republican National Committee, as they received $141 million compared to the $85 million raised by the Biden campaign and the Democratic National Committee.

This is the second consecutive month where Trump has outraised Biden—cutting sharply into the President’s fundraising advantage.

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Surprising Fact

Last year, Mellon made a $5 million donation to Robert F. Kennedy’s Democratic Primary campaign. At the time, Mellon praised Kennedy by calling him the “one candidate who can unite the country and root out corruption and that he’s the one Democrat who can win in the general election.”

Big Number

$116 million. The total amount of money the Trump campaign had in the bank at the end of May, compared to the Biden campaign’s $91 million. This is the first time in 2024 race when Trump’s campaign has more cash on hand than Biden’s.

What To Watch For

Earlier this month, MAGA Inc. reportedly told its donors it plans to spend $100 million through Labor Day. The spending will include an advertising campaign in several key Rust Belt and Sun Belt states.

Forbes Valuation

According to our estimates, the Mellon family’s net worth is $14.1 billion. The Mellons are the heir of one of the oldest-continuing fortunes in American history that dates back to 1841. Timothy’s predecessors built their fortunes through investments in real estate, banking, venture capital and oil.