By Marlyn Montilla
Jun 22, 2024, 09:29 AM EDT
Timothy Mellon, a Republican billionaire, donated $50 million to the campaign of former President Donald Trump, while, on the other hand, the former mayor of New York, Michael Bloomberg, donated $20 million for the re-election of the first Democratic president, Joe Biden, before the first televised debate.
The New York Times reported that Mellon made his contribution of $50 million, one of the largest sums of money ever, a day after the New York tycoon was found guilty of 34 crimes for falsifying business records for buys the silence of adult film actress Stormy Daniels in a NYC court.
Mellon’s endorsement of the Make America Great Again (MAGA) organization accounts for a large part of the nearly $70 million that the Trump campaign raised in the month of May.
The donation will help the Republican’s campaign reduce the monetary advantage that Biden has enjoyed so far.
According to The Washington Post, Bloomberg donated around $20 million to the Future Forward and Biden Victory Fund organizations that support the campaign of the current occupant of the White House.
“I endorsed Joe Biden in 2020 and I am proud to do so again,” Bloomberg said in a statement sent to that newspaper.
Bloomberg, who was mayor of New York between 2002 and 2013, began his political career as a Republican, but later became an independent and in recent years is one of the main sources of income for the Democratic Party.
According to the organization Open Secrets, the Democratic president’s re-election campaign has raised nearly $305 million dollars, while the former Republican president’s effort to take back the White House accumulates at least $243 million dollars.
Biden and Trump face each other on Thursday, June 27, in the first televised face-to-face before the presidential elections on November 5. The debate will take place in Atlanta, Georgia, and will be broadcast on CNN.
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