Timothy Mellon, a reclusive billionaire and heir to a Gilded Age fortune, has made a significant contribution to the pro-Trump super PAC, Make America Great Again Inc. Mellon's donation of $50 million comes at a crucial time, as it was made the day after Trump was convicted of 34 felonies. This donation is one of the largest single contributions ever disclosed and will have a significant impact on the 2024 race. Make America Great Again Inc. plans to reserve $100 million in advertising by Labor Day, thanks to Mellon's contribution.
Mellon's involvement in U.S. politics extends beyond this donation. He has also donated substantial sums to support Robert F. Kennedy Jr. as an independent candidate. Despite his historically low profile, Mellon's political influence has grown. His mega-donation will help Trump narrow the financial gap with President Biden's allies, who have announced over $1 billion in planned spending. Mellon is set to release a new book next month, further solidifying his presence in the political arena.
In another development, the billionaire Winklevoss twins, founders of cryptocurrency company Gemini, made bitcoin donations to Donald Trump's presidential campaign. However, their donations exceeded the maximum amount allowed under federal law. Tyler and Cameron Winklevoss each announced donations of $1 million in bitcoin, which exceeded the maximum $844,600 that the Trump committee can legally accept per person. As a result, the portion above that limit was refunded to the twins. The donations came after Trump presented himself as a champion for crypto, including at a San Francisco fundraiser this month with tech executives during which he criticized Democrats' attempts to regulate the crypto sector.
According to The Daily Hodl, Gemini crypto exchange co-founders Tyler and Cameron Winklevoss are each sending $1 million worth of Bitcoin donations to Republican Presidential candidate Donald Trump. They express their support for Trump due to his pro-crypto stances and accuse the Biden Administration of waging a war on crypto. Tyler Winklevoss criticizes the Biden Administration's SEC and FDIC for undermining crypto assets. The Winklevoss brothers believe that Trump is pro-crypto and pro-business and urge the crypto community to support him. [447aa5b8] [7ba3416d] [8a240fad]