In a significant financial boost to Donald Trump’s presidential campaign, conservative billionaire Timothy Mellon contributed $50 million, as revealed in a federal filing on Thursday.
The Super-PAC fund, “MAGA Inc,” disclosed to the Federal Election Commission that it amassed over $68 million from donors in the previous month.
According to Reuters, Timothy Mellon, heir to the Pittsburgh-based Mellon banking family, made the substantial $50 million donation. Additionally, billionaires Liz and Dick Uihlein contributed another $10 million to the fund.
This influx of funds came shortly after Trump was convicted on 34 charges of falsifying business records in his New York hush-money trial, with Mellon reportedly making his donation the day after the conviction.
Mellon has also been a significant supporter of independent presidential candidate Robert F. Kennedy Jr., donating at least $20 million to the pro-Kennedy Super-PAC, American Values. Super-PACs, or independent “political action committees,” can raise unlimited amounts of money to support election candidates without direct coordination with their campaigns.
The hefty donation from Mellon has enabled Trump’s allies to outspend those of US President Joe Biden in recent weeks. Mellon, who resides in Wyoming and maintains a low public profile, is an amateur pilot and has invested in and led various transport-related companies. The Mellon family’s wealth is estimated by Forbes to be around $14.1 billion.
In contrast, billionaire Mike Bloomberg has been a major financial backer for President Biden’s campaign, contributing nearly $20 million to Biden-supporting Super-PACs. Bloomberg’s contributions included $19 million to an independent pro-Biden group known as Future Forward (FF PAC) and an additional $900,000 to the Biden Victory Fund, which combines efforts from the Biden campaign and Democratic Party committees.
Despite these financial maneuvers, the Biden campaign did not immediately respond to requests for comment. Meanwhile, the pro-Kennedy Super-PAC reported receiving only around $280,000 last month, with none of it coming from Mellon.