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The stories that matter on money and politics in the race for the White House
Tim Mellon, a reclusive scion of the billionaire American banking dynasty, gave $50mn to a fundraising group supporting Donald Trump a day after the former US president was convicted of falsifying business records in a New York hush money trial.
The donation, disclosed on Thursday, means Mellon has now given $75mn to the group, known as Make America Great Again Inc, over the past year, according to federal filings.
He has also donated $25mn to a super Pac supporting Robert F Kennedy Jr, the independent presidential candidate. A political adviser to Mellon declined to comment on his behalf.
Mellon is the top donor to both super Pacs, making him a pivotal person in the effort to defeat President Joe Biden in November’s election.
Trump has been behind Biden in the race to raise campaign funds. Trump has spent those funds not only on defeating GOP rivals in the Republican primary elections, but also on lawyers representing him in criminal and civil trials. Maga Inc has given millions to another group, which pays his legal fees, and spent millions more to book ads boosting Trump.
Maga Inc raised $69mn in May after Mellon and GOP mega donors Richard and Liz Uihlein, the shipping magnates, chipped in $10mn and Texas oil titan Kelcy Warren gave $5mn.
Super Pacs are campaign organisations that can raise unlimited sums on behalf of candidates and are not bound by the limits set on direct donations to the candidates.
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Mellon, the grandson of former US Treasury secretary Andrew Mellon, has been motivated in the past by Trump’s “build the wall” rhetoric, years ago donating more than $50mn to Texas Governor Greg Abbott’s border wall fund, according to the Texas Tribune.
Meanwhile, former New York mayor Michael Bloomberg has recently decided to give Biden a major gift, donating nearly $20mn, according to a person familiar with the matter. The Washington Post first reported the donation.
A spokesman for Maga Inc did not immediately return requests for comment.