Trump secures mammoth donation; channels funds towards opposing Biden's campaign
The Struggle for US Elections is also a Battle for Financial Backing. Trump Gains the Upper Hand. A Possible Explanation Could Be Shockingly the Legal Proceedings Against Him.
As stated by Donald Trump's campaign squad, there was a speedy surge in donations throughout the New York hush money trial proceedings. By the end of May, the Republican's campaign resources swelled from around 53 million dollars in the previous month to over 116 million dollars, as per the Federal Election Commission's official report on Thursday.
President Joe Biden's campaign reported 91 million dollars, slightly above the level of the end of April. At that time, Biden was significantly better at fundraising than his opponent. However, during the trial, which concluded with Trump's conviction on May 30, it was evident that an increasing amount of cash was flowing into the Trump team's funds.
The Republican Party, which also collects donations to support Trump, reported an increase in their account from 38 million dollars to 54 million dollars. Biden's Democratic Party stood at 65 million dollars at the end of May, only slightly more than in April.
Billionaire Deposits $50 Million
Beyond the actual campaign teams, there are also groups known as political action committees, or PACs, which collect donations to support their preferred candidates. The most prominent of these lobby groups are referred to as Super-PACs. They spend vast sums on election ads. Although they are not permitted to work in conjunction with the candidate, they can raise unlimited amounts of money, unlike the candidates' campaigns.
The largest Super-PAC backing Trump is named MAGA Inc. It reported donations of above 68 million dollars to the Federal Election Commission in May. Of that, 50 million dollars came from the dropped billionaire Timothy Mellon, an heir to the Mellon banking legacy. Mellon supposedly transferred the money directly on the day following Trump's conviction in the trial regarding hidden hush money payments, according to NBC News. This individual donation is said to be among the largest ever made to support a candidate.
The Millionaire Uihlein couple, founders of the packaging company Uline, donated another ten million dollars. The largest pro-Biden Super-PAC, Future Forward, received 19 million dollars from billionaire Michael Bloomberg alone.
The US election is scheduled for November 3. In the polls, Biden and Trump are at a stalemate. Trump, however, holds a slight advantage in several crucial states that could determine the outcome.
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The surge in donations for Donald Trump's campaign during the trial has given him a financial edge, potentially influencing the US presidential election 2024. Despite Joe Biden's campaign outraising Trump in April, the Republican saw a substantial increase in funds post-conviction. One of the largest contributions came from billionaire Timothy Mellon, who donated $50 million directly following Trump's conviction, making it one of the largest individual donations in support of a candidate.
