As the 2024 U.S. presidential race intensifies, many billionaires are discreetly choosing sides, providing significant financial support to either Vice President Kamala Harris or former President Donald Trump. While some, like Elon Musk, are vocal about their endorsements, others, including Warren Buffett and Mark Zuckerberg, have chosen to remain silent, despite speculation surrounding their political leanings.
According to Forbes, 76 billionaires are backing Kamala Harris, while 49 have been identified as supporters of Donald Trump. Many more may yet pledge their financial support, but their contributions won’t become public until after the election when final reports from the Federal Election Commission are released in December.
Despite her criticisms of pro-billionaire policies, Harris has garnered support from ultra-wealthy individuals for pragmatic reasons. A letter from over a dozen billionaires endorsing her emphasized expectations for her to uphold “fair and predictable policies,” which promote economic stability. This approach resonates particularly with Silicon Valley billionaires who have known Harris since her tenure as a California prosecutor. A recent survey indicated that sectors such as technology, healthcare, and sustainability would likely thrive under a Harris presidency.
Among the billionaires supporting Harris, 28 have donated $1 million or more to her associated groups. Notable backers include Michael Bloomberg, former New York Mayor; Arthur Blank, Atlanta Falcons owner; Reid Hoffman, LinkedIn co-founder; Vinod Khosla, Khosla Ventures; Dustin Moskovitz, Facebook co-founder; and filmmaker Steven Spielberg. Additionally, 36 billionaires have contributed between $50,000 and $999,999, including fashion designer Tory Burch, Netflix co-founder Reed Hastings, Ripple co-founder Chris Larsen, and Laurene Powell Jobs of Apple fame. Prominent figures like Melinda French Gates and Joe Gebbia from Airbnb have also backed Harris financially, with high-profile endorsements coming from individuals like Mark Cuban and Magic Johnson.
On the other hand, Donald Trump has positioned himself as a champion of both the ultra-wealthy and working-class Americans, attracting considerable backing from 49 billionaires. Notable supporters of Trump include Miriam Adelson of Las Vegas Sands Corp., Don Ahern from Las Vegas construction, Diane Hendricks of ABC Supply, Linda McMahon from WWE, and Steve Wynn of Wynn Resorts. Another 16 billionaires have contributed between $50,000 and $999,999, including Houston Rockets owner Tilman Fertitta, Paulson & Co. founder John Paulson, and Siebel Systems founder Thomas Siebel. Trump’s billionaire supporters also include Elon Musk, who has actively campaigned for him, appearing at rallies and encouraging swing state voters through his political action committee.
While many billionaires have openly declared their support for either candidate, others are choosing to remain neutral for the time being. Jeff Bezos, the Amazon founder, praised Trump’s resilience following a personal incident but has not publicly endorsed a candidate. Warren Buffett, a known Democrat, has opted to stay quiet during this election cycle. Mark Zuckerberg reportedly had private discussions with Trump but has not yet endorsed anyone. Bill Gates, while not officially backing a candidate, expressed positive sentiments towards Harris in a July interview, highlighting her focus on artificial intelligence and its implications.
Jamie Dimon, CEO of JPMorgan Chase, has also refrained from endorsing any candidate, despite a false claim from Trump suggesting otherwise. Ray Dalio, founder of Bridgewater Associates, described the upcoming election as “the most consequential” of his life but has yet to endorse either Harris or Trump. Sergey Brin, co-founder of Google, has kept his opinions private this election cycle after previously finding Trump’s election “deeply offensive.” Larry Ellison and Ken Griffin have similarly remained silent in the lead-up to the election, despite their past financial support for Republican causes.
As the election approaches, it’s likely that more billionaires will disclose their preferences and financial commitments.
