Wealthy businessman Timothy Mellon and former New York City Mayor Michael Bloomberg wrote huge, eight-figure checks in July to support major Republican and Democratic super PACs preparing for the 2024 election.
Mellon, who donated 50 million dollars in May A super PAC backing former President Donald Trump’s presidential bid doubled down last month with another $50 million donation to the group. Mellon, who previously gave millions to a super PAC supporting independent presidential candidate Robert F. Kennedy Jr., has now donated more than $150 million to political organizations this cycle.
It is one of the largest political contributions disclosed by an individual in an election cycle.
Mellon’s donation accounted for the vast majority of the $54 million MAGA Inc. raised in July, according to new reports filed by the Federal Election Commission late Tuesday. The group spent $44 million last month, much of it on television ads by Republicans increase costs in the presidential race. The super PAC closed July with $124 million in the bank.
Its Democratic rival, FF PAC, backed President Joe Biden’s campaign this cycle and is now backing Vice President Kamala Harris, the party’s new flag bearer. Last month, it raised nearly $30 million, spent $27 million (also primarily on ads), and the month was virtually MAGA Inc. closed with the same amount of money, 124 million dollars.
After increasing FF PAC by a Donation of $20 million in MayBloomberg turned his fortune to House races last month.
Bloomberg donated $10 million to the House Majority PAC last month, the first time this election cycle has given to the group, a major Democratic super PAC involved in House races.
In a statement to NBC News, the NBC House Majority PAC is deeply grateful for Mayor Mike Bloomberg’s long-term and continued support. Commitment to Democratic ideals will strengthen our work to advance the agenda for America’s working families and elect Speaker Hakeem Jeffries next year.
Bloomberg’s donation comes just days after Biden’s disastrous debate, when donors are eyeing him. they direct their contributions to down-ballot races Amid concerns about Biden’s viability. But large donations often take time to come together, and it’s unclear whether the discussions are related to the donation.