Adding another variable to the election!
According to The New York Times, former New York City Mayor Michael Bloomberg donated $50 million to a non-profit organization that supports Harris' campaign. Other billionaires and Democratic donors have been pressuring Bloomberg for months to donate.
The New York Times reported on the 22nd that Microsoft founder Bill Gates donated $50 million to Democratic candidate and current Vice President Kamala Harris in the 2024 US presidential election.
Trump has already gathered a group of billionaire donors, including Elon Musk and Timothy Mellon. Based on recent market trends, Trump trading has been prevalent recently. Last night, Trump Media Technology Group closed up 21.59% with a transaction of $4.792 billion. Compared to the lowest point of $11.75 in September, the stock has risen 310% so far. The cryptocurrency Dogecoin related to Musk has surged by 15%.
Bloomberg's' End '
According to The New York Times, former New York City mayor and presidential candidate Michael Bloomberg recently donated approximately $50 million to a non-profit organization that supports Vice President Kamala Harris' campaign. However, according to reports, this check was only received after months of pressure from other billionaires and Democratic donors.
The New York Times reported that although Bloomberg usually publicly donates, he intends to keep the donation confidential. He transferred the money to an organization called 'Future Forward USA Action', which is a branch of Harris' main super political action committee that deals with black money issues. According to Forbes, the 82 year old has assets of approximately $105 billion and frequently donates in the later stages of election cycles.
Harris has demonstrated extraordinary fundraising abilities, raising funds from both grassroots donors and the super rich. Her most famous supporters include business giants from both the East and West coasts, including renowned Wall Street executives and Silicon Valley leaders.
Although Bloomberg only became a registered Democrat in 2018, he is the second largest individual donor to the Democratic Party this round, second only to George Soros. In addition to the secret donation of $50 million, he also publicly donated $47 million to the federal government. However, compared to his donation in 2020, this donation is insignificant, as he spent $173 million at the time, not including the $1.1 billion he used for his own campaign.
The New York Times reported on the 22nd that Microsoft founder Bill Gates donated $50 million to Democratic candidate and current Vice President Kamala Harris in the 2024 US presidential election. The Harris campaign team raised $1 billion in less than three months, primarily through online donations. This number not only changed the competitive landscape between her and Trump, but also set a new record for the fundraising speed of presidential candidates.
Trump deals are prevalent
Trump has also gathered a group of billionaire donors, including Elon Musk and Timothy Mellon.
According to federal documents, Musk provided an additional $56 million to Trump and other Republicans in the final weeks of the 2024 election, bringing Musk's spending on pushing his allies to the White House and Congress to at least $132 million. The donations disclosed by Musk to the Federal Election Commission indicate that he has invested heavily in three major initiatives: funding Trump's presidential campaign and supporting Republicans in both the House and Senate.
According to the data, the top three individuals with the highest donations are railroad magnate Timothy Mellon, billionaire Sheldon Adelson's widow Miriam, and shipping magnate Richard and Elizabeth Youline, with donations of $172 million, $134.8 million, and $128.4 million, respectively, all flowing to the Republican camp.
Recently, Trump trading has been prevalent in the market. Last night, Trump Media Technology Group closed up 21.59% with a transaction of $4.792 billion. Compared to the lowest point of $11.75 per share in September, the stock has risen 310% so far. The cryptocurrency Dogecoin related to Musk has surged by 15%. Since October, the US dollar, Trump concept related stocks, and Bitcoin have all experienced a strong upward trend.
However, Charlie McElligott, Managing Director of Nomura and a cross asset macro strategist in the Americas, warned in a latest report that in recent weeks, the market has over hedged the hypothetical election results of Trump and the Republican Party winning both houses of Congress, which may result in Harris' approval rating being higher than expected and the election being deadlocked. At that time, various assets will have the risk of reversal, such as US Treasury bonds rising due to short selling, and the stock market falling sharply with the Democratic Party becoming the majority party in both houses of Congress.