Timothy Mellon, a conservative billionaire and heir to the Mellon banking family, has made a significant financial contribution to Donald Trump’s presidential campaign.
According to a federal filing, Mellon donated $50 million to the Super-Pac fund, MAGA Inc, which raised a total of $68 million from donors last month.
This substantial contribution came just a day after Trump’s conviction on 34 charges of falsifying business records in his New York hush-money trial.
Mellon’s donation has helped pro-Trump allies outspend US President Joe Biden’s allies on campaigning in recent weeks.
Additionally, Mellon has supported independent presidential candidate Robert F Kennedy Jr, donating $20 million to the pro-Kennedy Super-Pac, American Values.
Meanwhile, billionaire Mike Bloomberg has contributed nearly $20 million to Super-Pacs supporting Joe Biden, including $19 million to Future Forward (FF PAC) and $900,000 to the Biden Victory Fund.
The significant donations from Mellon and Bloomberg reflect the high stakes in the presidential campaign, with both sides seeking to gain a financial advantage.
Timothy Mellon, a private individual with an estimated family worth of $14.1 billion, has invested in transport-related companies and is an amateur pilot.
His donation has significantly bolstered Trump’s campaign coffers, while Bloomberg’s contribution has supported Biden’s bid for re-election.
