Billionaires Backing Trump: A Boon or Bust for 2024?

Elon Musk`s potential $45 million monthly donation to Donald Trump`s presidential campaign, while significant, might not guarantee Trump`s victory and could even be leveraged by Biden as a way to portray himself as fighting against wealthy special interests. Although billionaires like Musk, Ackman, Griffin, Singer, Schwarzman, Adelson, and Mellon have contributed heavily to Trump and Republican super PACs, the effectiveness of such large donations is debatable. Super PACs, which operate independently from campaigns, often spend on advertising that may have limited impact, especially closer to the election. Additionally, individual donations directly to campaigns are capped, and in this area, Biden and Trump appear to be relatively equal.