Record fall in membership despite earlier claims of increases from right-wing figures
Labour has admitted it is only kept afloat by the money of the mega-rich, after yet another massive fall in party membership numbers – to a level lower than its peak under Ed Miliband and far below the almost 600,000 when Jeremy Corbyn was leader.
According to its latest official figures, the party suffered a net loss of 37,000 members, 9% of its total, by the end of 2023 compared to a year earlier – the biggest year-on-year loss since 2003 when Labour haemorrhaged members during Tony Blair’s illegal war in Iraq. Even the claimed latest membership of 370,000 is suspect according to party insiders, as Labour under Keir Starmer has long padded its figures by continuing to count lapsed members – and its records were long in chaos after outsourcing led to a massive hack and the freezing of its membership administration systems.
Leading right-wing Labour figures have repeatedly briefed that members were pouring in and numbers were rising, attributing this to Starmer. In fact, given Starmer’s deep personal unpopularity, it makes far more sense to attribute the collapse in membership to him, his support for Israel’s genocide, his cowardly assault on left-wing MPs and members and his dog-whistle red-Tory ‘policies’.
And the party has inadvertently admitted that it is only propped up by donations from the super-rich. Party general secretary David Evans has said that the party losing less than the expected £2.5m during the general election campaign was because of “an increase in high-value donations”. Under Corbyn, large numbers of ordinary people chipped in what they could afford – so many that Labour’s debts, grown huge under previous leaders, were wiped out.
Now, even kept afloat by billionaires – and clearly beholden to them, given Labour’s atrocious announcements penalising the poor since Starmer was ushered into Downing Street by the fascist Reform ‘party’ – Labour is still losing money, just less than it would have without the huge donors wanting payback for their investment.
Vote For Genocide Vote Labour.Zionist Keir Starmer is quoted “I support Zionism without qualification.” He’s asked whether that means that he supports Zionism under all circumstances, whatever Zionists do.
Sen. Bernie Sanders (I-Vt.) speaks during the Democratic National Convention on August 20, 2024 in Chicago. (Photo: Robert Gauthier/Los Angeles Times via Getty Images)
“Billionaires in both parties should not be able to buy elections, including primary elections,” said Sen. Bernie Sanders.
Sen. Bernie Sanders said during his primetime appearance at the Democratic National Convention Tuesday night that overturning the U.S. Supreme Court’s Citizens United decision should be “at the very top” of the party’s list of priorities, particularly given the outsized role that billionaires and dark-money groups have played in recent elections.
“Billionaires in both parties should not be able to buy elections, including primary elections,” Sanders (I-Vt.) said in his speech to Democratic delegates and activists gathered in Chicago. “For the sake of our democracy, we must overturn the disastrous Citizens United Supreme Court decision and move toward public funding of elections.”
Sanders, a two-time Democratic presidential candidate, argued during his remarks that billionaire and corporate influence on U.S. elections is a major barrier obstructing policy changes that are overwhelmingly popular with the American public.
“These oligarchs tell us we shouldn’t tax the rich,” said the Vermont senator. “The oligarchs tell us we shouldn’t take on price gouging; we shouldn’t expand Medicare to cover dental, hearing, and vision; and we shouldn’t increase Social Security benefits for struggling seniors.”
“Well I’ve got some bad news for them: That is precisely what we are going to do, and we’re going to win this struggle because this is precisely what the American people want from their government,” he continued.
Watch Sanders’ full speech:
According to the campaign finance watchdog OpenSecrets, super PACs—products of the 2010 Citizens United decision—and other outside groups have already spent more than $1 billion on federal elections this cycle, far outpacing previous election years.
The largest spender thus far has been Make America Great Again Inc., a super PAC supporting Republican nominee Donald Trump.
OpenSecrets also found that so-called “guardian angel” megadonors—”a term for big donors who supply 40% or more of a committee’s funds and are a political group’s top contributor”—have spent nearly $200 million so far this cycle.
The American Israel Public Affairs Committee’s super PAC, which is funded by Republican billionaires, has spent big on Democratic primary contests this year in an effort to oust lawmakers who have backed a cease-fire in the Gaza Strip. Two members of the progressive “Squad”—Reps. Jamaal Bowman (D-N.Y.) and Cori Bush (D-Mo.)—recently lost primary contests to AIPAC-backed Democrats.
“We must take on Big Pharma, Big Oil, Big Egg, Big Tech, and all the other corporate monopolists whose greed is denying progress for working people.”
In recent years, Sanders has repeatedly urged the Democratic Party to ban super PAC spending in its primaries, arguing that it’s hypocritical for Democrats to call for campaign finance reform while simultaneously allowing billionaire-funded groups to pour staggering sums into their primary contests.
“What you’re seeing from AIPAC and other super PACs is simply outrageous,” Sanders said earlier this week. “Democrats often talk about the need to end Citizens United, and we agree. They talk about moving to public funding of elections. But if you’re serious about the power of money in politics, you can say today, sorry, no super PACs allowed in primaries.”
During his DNC speech on Tuesday, Sanders also demanded an immediate cease-fire to end Israel’s “horrific war in Gaza” and said he looks forward to working with Democratic nominee Kamala Harris and her running mate, Minnesota Gov. Tim Walz, to pass an agenda that strengthens public education, slashes prescription drug prices, and expands healthcare to all.
“Let us be very clear: This is not a radical agenda,” said Sanders. “But let me tell you what a radical agenda is, and that is Trump’s Project 2025. At a time of massive income and wealth inequality, giving more tax breaks to billionaires is radical. Putting forth budgets to cut Social Security, Medicare, and Medicaid is radical. Letting polluters destroy our planet is radical.”
“We must take on Big Pharma, Big Oil, Big Egg, Big Tech, and all the other corporate monopolists whose greed is denying progress for working people,” Sanders continued. “On November 5, let us elect Kamala Harris as our president and let us go forward to create the nation we know we can become.”
More than 100 nonprofits led by the Heritage Foundation, which have close ties to Donald Trump and JD Vance, have signed on as advisors to the Project 2025 “Mandate for Leadership” document. Design: DeSmog
More than $120 million from a few ultra-wealthy families has powered the Heritage Foundation and other groups that created the plan to remake American government.
Since 2020, donor networks linked to just six family fortunes have funneled more than $120 million into Project 2025 advisory groups, a DeSmog analysis has found.
More than 100 nonprofits led by the Heritage Foundation, a right-wing think tank that has engaged in climate change denial and obstruction for decades, have signed on as advisors to the Project 2025’s 900-page “Mandate for Leadership” document — a plan to rapidly “reform,” or radically alter, the U.S. government by shuttering bureaus and offices, overturning regulations, and replacing thousands of public sector employees with hand-picked political allies.
In its official Project 2025 materials, Heritage Foundation leadership repeatedly draws attention to the size and diversity of its advisory board, suggesting that its numerous “coalition partners” are part of a broad, “movement-wide effort” representing a variety of independent viewpoints.
“Project 2025 is unparalleled in the history of the conservative movement—both in its size and scope but also for organizing [so many] different groups under a single banner,” the organization wrote in an October 2023 press release.
But an analysis of financial disclosure forms shows the same small group of donors supporting Project 2025’s advisors again and again — hardly a sign of ideological diversity. Of the 110 nonprofits formally supporting Project 2025, almost 50 received major donations from the same six sources of wealth since 2020.
Many of the organizations the six families funded also have close ties to Donald Trump and his running mate, Ohio Senator JD Vance, DeSmog found. Trump has repeatedly denied involvement in or knowledge of Project 2025, though that position conflicts with a growing number of news reports — a disavowal made more awkward by the fact that Vance wrote the forward to Dawn’s Early Light, a forthcoming book by Heritage Foundation president Kevin D. Roberts that describes his Project 2025 vision. DeSmog’s review of Project 2025’s financial backers found additional links to Trump, Vance, and key figures in their orbit that had not been previously known.
These six donor networks, linked to the family fortunes of a handful of wealthy industrialists, have spent years working to loosen environmental regulations and promote climate change denial. Though Heritage describes Project 2025 as a mainstream effort to “return government to the people,” its funding sources suggest something far less populist: a vehicle for the obsessions of ultra-rich donors on the far-right fringe, pushing an agenda to reshape American democracy and overturn regulations needed to maintain a livable climate.
Representatives from the six donor networks did not respond to DeSmog’s outreach on this story. The Heritage Foundation did not reply to a request for comment.
The Coors Family At least $2.7 million to Project 2025 groups since 2020
In 1972, Joseph Coors, grandson of Coors Brewing Company founder Adolph Coors, kick-started the Heritage Foundation with an initial gift of $250,000. For years, he supported the conservative think tank’s growth, ultimately funneling his funds through the Adolph Coors Foundation, the nonprofit he started with his brother Bill in 1976.
“There wouldn’t be a Heritage Foundation without Joe Coors,” former Heritage president Edwin J. Feulner wrote in a 2003 tribute.
Joseph Coors meets with Ronald Reagan in 1981. Credit: Wikipedia
The tradition continues today, with billionaire Peter H. Coors — retired beer magnate and Adolph’s great-grandson — at the helm. The Adolph Coors Foundation funded 22 Project 2025 advisory groups between 2020 and 2023, including $300,000 to the Heritage Foundation. Vance has been connected to Heritage since at least 2017, when he wrote the forward to that organization’s “Index of Culture and Opportunity” and gave a keynote address at a Heritage event promoting the report.
Of the Project 2025 groups, Coors funded Hillsdale College, which The New Yorker called “the Christian liberal-arts college at the heart of the culture wars,” most heavily, with nearly $900,000 in donations since 2020. Former Heritage staffer James Braid, today Vance’s deputy chief of staff and legislative director, spent 10 months as a James Madison fellow at Hillsdale College in 2021. Braid appeared on camera in a Project 2025 training video recently obtained by ProPublica and Documented. Braid was also an advisor at American Moment, another Project 2025 group.
The Coors Foundation gave an additional $5.9 million to DonorsTrust, a not-for-profit that describes itself as a philanthropic partner for conservative and libertarian donors — and that gives hundreds of millions of dollars to conservative causes annually, including to numerous Project 2025 advisors, as well as other organizations that downplay or deny the science and urgency of climate change.
Charles G. Koch At least $9.6 million to Project 2025 groups since 2020
In terms of raw numbers, Charles Koch — the CEO and chairman of Koch Industries, a sprawling conglomerate with an oil refinery focus — isn’t the biggest donor to Project 2025 groups in the past few years. But his support for the vast fundraising apparatus that powers conservative charities, including dozens of the initiative’s coalition partners, goes back decades, and his influence can’t be underestimated. A review of public financial disclosures by Greenpeace found that the network of charitable foundations linked to Koch and his late brother, David Koch, donated more than $165 million to climate-change-denying groups between 1986 and 2018. That includes more than $23 million to 16 nonprofits that Project 2025 lists among its advisors.
Throughout the 1990s, Koch Industries was also a “vital supporter” of the American Legislative Exchange Council (ALEC), a Project 2025 advisor. A membership group that connects more than 2,000 state legislators to over 300 corporations and private foundations, ALEC calls itself “a forum for stakeholders to exchange ideas”; New Yorker investigative journalist Jane Mayer, in her book Dark Money, describes it as an enormously successful effort “aimed at waging conservative fights in every state legislature in the country.” Foundations linked to Charles G. Koch donated more than $1.2 million to ALEC since 2020, Desmog’s review found, mostly through his Stand Together Trust.
Koch’s largest donations to Project 2025 groups since 2020 included $3.8 million to the Texas Public Policy Foundation (TPPF), a climate-change-denying nonprofit with close links to both the Heritage Foundation and the Trump administration. In 2018, Trump tapped Brooke Rollins, TPPF’s CEO since 2003, for a post at the Office of American Innovation; in 2020, he named her to lead his administration’s domestic policy strategy. By 2019, there were so many connection points between TPPF and the Trump administration that Politico’s E & E News wrote a story about it.
Rollins was succeeded at TPPF by Kevin Roberts, who had been promoted to CEO by 2021, when he left to become president of The Heritage Foundation. Koch-linked nonprofits also donated $845,000 to Heritage since 2020.
Richard and Elizabeth Uihlein At least $13 million to Project 2025 groups since 2020
The Uihleins are co-founders of Uline, a company that sells shipping and packing supplies — including its ubiquitous brand of cardboard boxes — and other bulk business goods. They donate heavily to conservative causes through the Ed Uihlein Foundation, named after Richard’s father, a packaging company entrepreneur whose grandfather was an original founder of the Schlitz beer company.
Among its donations to 13 different Project 2025 groups since 2020, Uihlein’s largest grants went to the Foundation for Government Accountability ($6.6 million), a limited-government think tank that has railed against “the Biden administration’s radical climate agenda,” and the American Cornerstone Institute ($2.5 million), founded by neurosurgeon and former Trump cabinet member Dr. Ben Carson. Carson has called climate change “irrelevant” as recently as 2015.
Outside the nonprofit sphere, the Uihleins are major donors to the Trump campaign. An analysis of Federal Election Commission data showed that the couple donated $10 million to Make America Great Again, Inc., a pro-Trump super PAC, in May 2024.
The Scaife Family At least $21.5 million to Project 2025 groups since 2020
Richard Mellon Scaife died in 2014, but his contribution to conservative causes is still felt today. A billionaire heir to the vast Mellon fortune, which was created thanks to his progenitors’ exploits in oil and aluminum production, banking, and other industries, Scaife provided years of critical financial support to the Heritage Foundation, starting in 1973. A 1999 article in the Washington Post called him the “funding father of the Right.”
Today, two foundations Scaife once controlled — the Sarah Scaife Foundation and the Allegheny Foundation — continue to give heavily to conservative causes, including to numerous organizations involved in climate change denial. DeSmog’s review found that Scaife family foundations gave $4.1 million to the Heritage Foundation since 2022, while also contributing to 22 other Project 2025 advisory groups.
Scaife foundations also donated an additional $1.2 million to the State Policy Network, an ALEC-linked group that supports conservative nonprofits that oppose government regulation, including 25 members of Project 2025’s coalition.
Barre Seid At least $22.4 million to Project 2025 groups since 2020
The enigmatic industrialist Barre Seid primarily built his fortune through his company Tripp Lite, an electronics manufacturer specializing in surge protectors. He is reportedly a major benefactor supporting the Heartland Institute, a Project 2025 advisor organization that The Economist called “the world’s most prominent think tank supporting skepticism about man-made climate change” — a description Heartland approvingly quotes on its website.
In late 2020, Barre donated 100 percent of Tripp Lite’s shares to Marble Freedom Trust, a nonprofit controlled by Federalist Society co-chairman Leonard A. Leo. In early 2021, Leo sold the shares, netting $1.65 billion. The amount is said to be “among the largest — if not the largest — single contributions ever made to a politically focused nonprofit,” according to The New York Times.
Since May 2020, Marble Freedom Trust has donated $100 million to Concord Fund, also known as the Judicial Crisis Network, a Leo-linked nonprofit. In that time, Concord has donated $22.4 million to eight Project 2025 groups, giving most heavily ($11.9 million) to Susan B. Anthony Pro-Life America.
Seid also gave $2 million to Independent Women’s Voice, the sister organization of Independent Women’s Forum, a Project 2025 advisor. During her time as director for the Independent Women’s Forum’s Center for Energy and Conservation, Mandy Gunasekara, a former Trump administration Environmental Protection Agency official, authored Project 2025’s chapter on restructuring the EPA — with recommendations that include “cutting its size and scope” dramatically.
The Bradley Family At least $52.9 million to Project 2025 groups since 2020
The Lynde and Harry Bradley Foundation was originally established in 1942 by brothers Lynde and Harry Bradley, founders of the Allen-Bradley company, which made its fortune manufacturing a wide range of electronic products. Their descendants have continued to financially support the foundation for years to come, including with a reported $200 million gift in 2015.
But it was c, who served as CEO of the foundation between 2002 and 2016, who cemented its reputation as a conservative powerhouse, steering donations to a network of activist organizations like The Heritage Foundation, the Mackinac Center for Public Policy, and the Heartland Institute (all Project 2025 coalition partners). The current chairman is James Arthur “Art” Pope, CEO of the North Carolina grocery chain Variety Wholesalers, a longtime Koch ally.
The Bradley Foundation and a second philanthropic vehicle it supports, the Bradley Impact Fund, donated over $50 million to 29 different Project 2025 advisors since 2020. That’s not including an additional $56 million to DonorsTrust, which a 2013 Mother Jones investigation dubbed, along with its affiliate group Donors Capital Fund, the “dark money ATM” of the U.S. conservative movement. The Bradley Foundation’s Project 2025-linked donations include more than $7.7 million to Turning Point USA, a “powerful ally” of the Trump presidential campaign, which promotes conservative causes on university campuses and is funded in part by the fossil fuel industry. Its single largest donation was $27.1 million in 2022 to Project 2025 advisor Turning Point Legal, founded by former Trump advisor and past president of a coal lobby group Stephen Miller.
Billionaire hedge fund manager Bill Ackman speaks at The New York Times DealBook Conference at Jazz at Lincoln Center on November 10, 2016 in New York City. (Photo by Bryan Bedder/Getty Images for The New York Times )
Here they are. They have names. They have billions. And they’re the leading American oligarchs backing the ticket that wants to kick the working class and poor people in the face.
No matter who may be supporting them in public opinion polls, Donald Trump and JD Vance are not the saviors of the middle class, the working, class, or the poor. They are not the champions of Blacks, whites, Latinos, men, women or any other demographic group. Their policy proposals won’t even benefit better off but not rich Americans. They are the candidates of casino, real estate, fossil fuel, and tech billionaires. Many are affiliated with Trump 47 or one of the other pro-Trump Super PACs.
I am a union member and have been since I started working as a teenager in the 1960s and I support the Harris-Walz ticket. I think it is a moral transgression in this election to vote for any down ballot Republican candidate that appears on the same line as Trump and Vance. The Democrats must win the House and Senate and local elections to stop the billionaire financed anti-democracy MAGA movement.
Below, in alphabetical order, is a list and description of some of the Trump-Vance team’s key super-wealthy supporters. It is a billionaire’s club.
Hedge fund billionaire Bill Ackman is the chief executive and portfolio manager of Pershing Square Capital Management. Ackman demanded that Trump resign after the January 6 attack on the Capitol, but now endorses Trump. Ackman is a leading crusader against DEI policies and what he perceives of as a wave of antisemitism on college campuses. He played a leading role in forcing Harvard President Claudine Gray to resign, in getting New York City Mayor Eric Adams to use police to breakup protests at Columbia University against Israel’s action in Gaza and contributed to SuperPACs that defeated progressive candidates in Democratic Party primaries because they criticized Israel. Forbes estimates Ackman’s net worth at over $9 billion.
Casino magnates Miriam Adelson and her deceased husband, Sheldon Adelson, were Trump’s biggest donors in 2020. They contributed $90 million to the pro-Trump SuperPAC Preserve America. Adelson is the wealthiest Israeli citizen and one of the fifty wealthiest people in the world. She pledged $100 million to Trump’s 2024 campaign in exchange for his promise that if he is elected President the United States would recognize Israeli sovereignty over the West Bank, torpedoing any possible of an independent Palestinian state.
Marc Lowell Andreessen is a Silicon Valley tech businessman, former software engineer, member of the Facebook Board of Directors, and worth $1.8 billion. In 2016 he endorsed Hillary Clinton for President because of Trump’s anti-immigrant stance, but he is now donating mega-bucks to SuperPACs supporting Trump, hoping to secure policies that favor his investments.
Scott Bessent is founder of the global investment firm Key Square Group with an investment portfolio of $8 billion. Previously Bessent was the Chief Investment Officer of Soros Fund Management, a much more liberal company. At some point, Bessent changed his stripes, and he is now a co-chair of Trump 47, a Republican Party fundraising group in Palm Beach, Florida. Bessent is considered a possible Secretary of the Treasury if Trump is elected.
Robert Thomas Bigelow owns Budget Suites of America and is founder of Bigelow Aerospace. He is a notorious conspiracy theorists providing financial support for investigating UFOs and paranormal phenomena including consciousness after death. Bigelow has originally a DeSantis supporter but switched to Trump when DeSantis dropped out of the race. Bigelow gave Trump a million dollars to help with his legal fees and promised to give $20 million to pro-Trump Super PACs. Bigelow’s net worth is $1.5 billion.
Robert H. Book is chairman of Book Capital Enterprises and Jet Support Services, and a Vice Chairman of Axxes Capital. His net worth is only half a billion dollars so he may not belong on this list. Book, a major philanthropist in support of Israel, was critical of Trump in 2017 for not forcibly condemning neo-Nazis marching in Charlottesville, Virginia. However, in 2020 he gave over a million dollars to the Trump Victory Committee.
Timothy Dunn is the CEO of the fossil fuel company CrownQuest Operating. Dunn contributed to the Trump 2020 campaign and in 2023 he gave $5 million towards the 2024 campaign. He’s an active donor in rightwing Texas politics, giving approxinately $10 million to the conservative Defend Texas Liberty PAC. He co-founded a Christian school where he is on the board of trustees and teaches Sunday school. Dunn opposes abortion, same-sex marriage. and adoptions by same sex couples. He is worth an estimated 2.2 billion.
José Fanjul is a Cuban American a sugar magnate with investments in Domino Sugar and real estate who gave over $800,000 to the Trump 47 Committee and hosted a Trump fundraiser. Fanjul’s company received an estimated $65 million in federal agricultural subsidies that he uses political influence to protect. The family’s business interests are valued at over $8 billion.
Kenneth Griffin is a hedge fund manager who gave $10 million to the House Republican Super PAC and $5 million to the Senate Republican Super PAC. Griffin initially backed Nikki Haley for the 2024 Republican nomination and called Trump a “three-time loser,” but is now prepared to endorse Trump. Griffin is worth about $35 billion.
Harold Hamm, executive chair of Continental Resources, is an oil and gas magnate heavily invested in fracking who is worth $18.5 billion. Hamm is part of the Koch brothers rightwing donor network. He contributed $320,000 to the 2020 Trump campaign and organized a major Trump fundraiser with the fossil fuel industry.
Diane Marie Hendricks and her deceased husband were major supporters of Wisconsin Governor Scott Walker. Her net worth is over $20 billion. From 2014 to 2016, she gave millions of dollars to a Republican Super PAC created by the Koch Brothers and in 2020 Hendricks contributed $1.1 million to Trump’s presidential campaign. She spoke at the 2024 Republican Party National Convention and is also a financial supporter of Georgia representative Marjorie Taylor Greene. Hendricks’ investment in Trump paid off bigtime. She saved $36 million in income taxes from a provision in the 2017 Trump tax cut.
Benjamin Horowitz is a co-founder of the venture capital firm Andreessen Horowitz along with Marc Lowell Andreessen and is personally worth $3.5 billion. He pledged to give money to the 2024 Trump campaign.
Robert “Woody” Johnson is co-owner of the New York Jets football team and an heir to the Johnson & Johnson pharmaceutical company. He is worth an estimated $10 billion. Johnson was a co-financial chair of the Republican Party during Trump’s 2016 campaign and was appointed ambassador to the United Kingdom when Trump was elected. During the 2024 campaign, Johnson has already given over a million dollars to Trump Super PACs.
Doug Leone is a partner at and former head of Sequoia Capital. Forbes magazine estimates he is worth $8.4 billion. In 2021, Leone said Trump lost his support because of the January 6 attack on the Capitol, but he is now back on the Trump bandwagon. He gave $2 million to the Right for America Trump Super PAC and $1 million to the America PAC.
Joe Lonsdale is a technology entrepreneur and investor and co-founder of Palantir worth about half a billion dollars. He donates to Trump through the Super PAC America Pac.
Howard Lutnick is CEO of Cantor Fitzgerald and has a net worth of an estimated $1.5 billion. Lutnick has hosted New York metro area fundraisers for Trump in his home since 2019.
Omeed Malik, who formerly supported Ron DeSantis, changed track and pledged to raise over $3 million and donate at least $100,000 to the Trump campaign. Malik is president of 1789 Capital and CEO of Farvahar Partners. He has an estimated net worth of $6.15 billion.
Home Depot co-founder Bernie Marcus supported Trump for President in 2016 and 2020 and announced he would support Trump again even if he were convicted of crimes. He gave the Trump campaign $25 million in 2020. Marcus, who is worth almost $9 billion, originally supported DeSantis this round and then Haley, but he is now boosting Trump again. He said his donations to the 2024 Trump campaign would be “in line” with past contributions.
Vincent and Linda McMahon are professional wrestling promoters. The McMahons gave $5 million to the Donald J. Trump Foundation. Linda was appointed administrator of the federal Small Business Administration during the Trump administration and spoke at the 2024 Republican National Convention. The McMahon’s have a combined net worth of $3.2 billion.
Timothy Mellon is a descendant of the founder of the Mellon Bank and railroad interests. The bank, under different names, today manages about $50 trillion in assets and the current generation of the family is worth about $15 billion. Mellon is a major Trump supporter. In April 2020, he gave $10 million to Trump’s America First Action Super PAC, and he has pledged $75 million to elect Trump in 2024. He also contributed $25 million to the independent candidacy of Robert Kennedy. Mellon is the definition of rightwing weirdo. He posted online comparing climate scientists to ISIS, is a COVID anti-vaxxer, donated to build a Southern wall, and issued statements that led to him being accused of racism.
Robert and Rebeka Mercer (his daughter and fellow conservative activist) Pappa Mercer was an artificial intelligence proponent and co-chair of the Renaissance Technologies hedge fund. Mercer has a string of companies based in the Caribbean that he uses to avoid paying American income taxes. Among his rightwing activities, he contributed to the Brexit campaign for Great Britain to leave the European Union, works with Koch brother’s groups, financially supported Breitbart News, donated to the Heritage Foundation and the Cato Institute, labels civil rights acts as racist, and helped fund JD Vance’s Ohio Senate campaign. Daughter Rebekah is in charge of the Mercer Family Foundation. She home schooled her children, is on the Heritage Foundation Board of Trustee, was on the 2016 Trump transition team, and works closely with Steve Bannon who she introduced to Trump. Pappa Mercer is probably worth a little less than a billion dollars.
Elon Musk is going all in to elect Trump, providing money through his private pro-Trump Super PAC and free publicity on his social media site including an interview scheduled for posting on August 12. Musk reportedly pledged to contribute $45 million a month to his America PAC, which has already been accused of using data from a subterfuge voting registration drive to aid the Trump campaign. After Musk purchased Twitter, which he rebranded X, there was a surge of antisemitic and racist postings on the platform. Musk himself has also posted or retweeted hateful conspiracy theories, targeted Anthony Fauci, and made fun of people using gender pronouns. It is estimated that Musk is worth over $200 billion.
Chamath Palihapitiya, an early senior executive at Facebook, is a champion of digital currency and a competitive poker player. He co-hosted a San Francisco fund raiser for Trump with David Sacks that raised $12 million and promotes Trump on his podcast. Palihapitiya’s net worth is estimated at $1.2 billion.
Geoffrey Palmer is a Los Angeles-based real estate developer and competitive polo player worth $3.1 billion. His company contributed $5 million to Trump’s 2016 campaign, and he has hosted fundraisers for each of Trump’s campaigns. This round he gave $2 million to Trump’s MAGA Inc. super PAC and $814,600 to the Trump 47 Committee. He was also a major financer of efforts to recall California Governor Gavin Newsom.
John Paulson, net worth $3.5 billion, made his money from the 2008 housing market collapse. He was an early supporter of Trump in 2016, has already raised $50 million for the Trump 2024 campaign, and is another potential Treasury Secretary.
Hedge fund broker Nelson Peltz stated that he regretted voting for Trump after the Capitol attack, but he is now hosting Trump fund raisers at his Palm Beach, Florida mansion, although he says he is not happy about it. Peltz is worth $1.6 billion.
Isaac Perlmutter is an Israeli American billionaire who has had stakes in several companies including Revco drug stores, Remington gun manufacturers, and Marvel Entertainment. He is a friend and unofficial advisor to Trump who helped oversee the Department of Veterans Affairs when Trump was President. Isaac and his wife Laura Perlmutter gave Trump almost $2 million in 2016, and Laura was part of Trump’s inauguration planning committee. In 2024, the Perlmutters have already contributed $10 million to Trump’s Right for America Super PAC. Isaac and Laura Perlmutter live near Mar-a-Lago in Florida and are worth over $4 billion.
Vivek Ramaswamy originally ran against Trump in Republican primaries but then endorsed him and was awarded with a spot at the Republican National Convention. Ramaswamy opposes affirmative action, abortion rights, and birthright citizenship. During his campaign he called the “climate change agenda a hoax” and for raising the voting age to 25. He has endorsed conspiracy theories that the January 6 attack on the U.S. Capitol was a “inside job” and questioning the official story about the September 11th attack on the World Trade Center. He made his money in pharmaceuticals and is worth about a billion dollars.
Todd Ricketts is a co-owner of the Chicago Cubs, a TD Ameritrade board member, and a former Republican Party finance chair. Since 2016 he has been a Trump fundraiser and was chair of the Trump Victory Committee in 2020. The Ricketts family is worth over $4 billion.
Phil Ruffin, a casino magnate, is a longtime associate and business partner of Trump who was with Trump at the 2013 Miss Universe Pageant in Moscow. Ruffin, worth $2.6 billion, contributed $2 million to Trump’s MAGA Inc. Super PAC and more than $800,000 to Trump 47.
Tech investor, podcast host, and venture capitalist David Sacks spoke opening night of the Republican National Convention. on Monday, co-hosted a fundraiser for Trump in San Francisco. Sacks, a former chief operating officer at PayPal, is now a big promoter of crypto currency along with JD Vance. Sacks supported Hillary Clinton in 2016, recently toyed with support for Robert Kennedy, but is now a prominent Trump fund raiser.
Blackstone CEO Steve Schwarzman, a longtime friend of Trump, was chairman of his Strategic Policy Forum when Trump was President. In that role he marshalled billionaires to support Trump tax cuts and economic policies. Schwarzman denounced the January 6 attack on the Capitol Building as an “insurrection” and an “affront to the democratic values we hold dear” and in 2022 he announced he would not support Trump for reelection however Schwarzman is now a Trump supporter and fundraiser again. He is worth $39 billion.
Paul Singer is a hedge fund manager with a net worth of over $6.1 billion. His specialty is buying the debt of poor countries and then forcing them to pay. Singer and the workforce at his company, Elliott Management are a top source of contributions to the National Republican Committee. Singer has contributed to the political efforts of the Koch brothers and gave one million dollars to the Trump 2017 inaugural committee. He originally supported Nicki Haley’s 2024 campaign but has now endorsed Trump.
Jeff Sprecher and his wife, former Georgia Senator Kelly Loeffler are worth over $1 billion. Each contributed over $800,000 to a Trump Super PAC. Sprecher is the former chairman of the New York Stock Exchange.
So far Peter Thiel, co-founder of PayPal and Palantir, has not endorsed Trump again. He contributed a million dollars to the trump 2016 campaign but did not give money in 2020. Thiel, who is gay and part of a same-sex marriage, remains unhappy with Trump and the Republican Party’s focus on hot-button cultural issues. However, he was a major supporter of JD Vance’s Senate campaign and is expected to eventually support the Trump-Vance ticket because of his major investment in crypto currencies. Thiel, the person who introduced Trump to Vance, is worth $4.2 billion.
Richard Uihlein and Elizabeth Uihlein are founders of Uline and Richard is also an heir to Schlitz. They are anti-union, anti-tax, anti-regulation, and anti-gay and transgender rights. Their $10 million contribution to the Trump 2024 Make America Great Again Super PAC is currently the second largest Trump gift. The Uihleins are worth over $6 billion.
Kelcy Warren, the chairman and former CEO of a pipeline company with a net worth of over $6 billion gave over $800,000 to the Trump 47 Committee and $5 million to the MAGA Inc. super PAC.
Cameron and Tyler Winklevoss each gave over $1 million to the Trump 47 Committee and $250,000 to the America PAC. The twins run the cryptocurrency exchange Gemini and are each worth $2.7 billion. When endorsing trump, Tyler Winklevoss called him “pro-Bitcoin, pro-crypto, and pro-business.”
Steve Wynn was vice-chairman of Trump’s 2017 inaugural committee. He is casino and real estate magnate worth $3.4 billion who is accused of sexual misconduct and acting as a foreign agent for China. Wynn gave over $800,000 to the Trump 47 Committee.
Jeffrey Yass is the co-founder trading and technology company Susquehanna International Group, a major investor in TikTok which is under attack because its parent company is owned by China, and Trump’s sham media company. He has a net worth of $27.6 billion. He is a self-proclaimed libertarian, on the executive advisory council of the Cato Institute, and an advocate for charter schools and vouchers. Yass is one of the largest Republican Party deep pockets and contributed to several candidates challenging the results of the 2020 Presidential election.
House Speaker Mike Johnson (R-La.) speaks to reporters at the U.S. Capitol on July 23, 2024 in Washington, D.C. (Photo by Kent Nishimura/Getty Images)
“Republicans would rather protect their billionaire friends at the expense of everyone else,” said the chair of the Joint Economic Committee.
Budget proposals released by congressional Republicans in recent months lay bare the party’s desire to slash taxes for wealthy Americans and large corporations at the expense of key government programs and services, including nutrition assistance, environmental protection, and Medicaid.
That’s according to an analysis released Wednesday by Democrats on the Joint Economic Committee (JEC), which examined budget plans the GOP has released as Congress works to craft and pass government funding bills for the coming fiscal year.
The JEC specifically cites a Fiscal Year 2025 budget proposal published in March by the Republican Study Committee, a panel comprised of three-quarters of the House GOP caucus.
The plan, the JEC Democrats noted Wednesday, “claims to balance the budget by cutting Medicare spending, raising the retirement age for Social Security, capping funding for Medicaid and CHIP, and cutting the rest of non-defense discretionary spending by 31% across the board.”
“This would drive up health costs for American families by increasing premiums for [Affordable Care Act] healthcare plans and getting rid of protections for people with pre-existing conditions,” the new analysis says. “It would also prohibit Medicare from negotiating down prescription drug costs.”
A separate proposal from Republicans on the House Budget Committee claims it would finance “large tax cuts for the wealthy by both slashing key services and assuming that their tax giveaways lead to unrealistic levels of economic growth,” the Democratic report says.
“Analyzing this budget with more reasonable economic assumptions instead shows that budget would likely require the government to eliminate most federal services within a decade,” the report adds.
Sen. Martin Heinrich (D-N.M.), the chair of the JEC, said in a statement Wednesday that “Republicans’ extreme proposals are dangerous for America.”
“While Democrats are fighting to invest in families, Republicans would rather protect their billionaire friends at the expense of everyone else,” said Heinrich. “Kicking 42 million kids off of health insurance, gutting federal investments in public safety, denying veterans hospital care, and getting rid of [Supplemental Nutrition Assistance Program] benefits that help people afford groceries is unconscionable. Americans deserve better.”
Trump has called for an extension of the tax cuts he signed into law in 2017—changes that overwhelmingly benefited wealthy Americans. An extension of the tax cuts would add $4.6 trillion to the deficit of the next decade, according to the Congressional Budget Office.
The former president’s advisers have also reportedly discussed reducing the corporate tax rate from 21% to 15%, a change that would give the largest 100 U.S. companies a tax cut of $48 billion per year.
But earlier this week, UNITE HERE—a union that represents hospitality workers—endorsed Democratic nominee Kamala Harris over the Republican candidate, warning that “another Trump presidency would mean four chaotic years of defending against his attacks on unions, working people, immigrants, women, and others.”
As for Trump’s proposal to eliminate taxes on Social Security benefits, an analysis by the Tax Policy Center’s Howard Gleckman found that the move would reduce “Social Security and Medicare hospital insurance (HI) revenues by $1.5 trillion over the next decade,” harming the programs’ finances while providing “little or no benefit” to lower-income households in 2025.
“Less than 1% of the lowest-income households (those making about $33,000 or less, would get any tax cut at all,” Gleckman observed. “But about 28% of middle-income households would get a tax cut. Among the top 0.1 percent, about 20 percent of households would get a tax cut.”
Gleckman found that “in dollar terms, the biggest winners would be those in the top 0.1% of income, who make nearly $5 million or more.”
