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Timothy Mellon, the reclusive heir to a Gilded Age fortune, has poured over $165 million into the 2024 election so far, with tens of millions backing both Donald Trump and Robert F. Kennedy Jr.
Joining Republican presidential nominee Donald Trump onstage at a campaign rally in Arizona Friday night, Robert F. Kennedy Jr. tried to emphasize what the two share.
"We talked about not the values that separate us, because we don't agree on everything, but on the values and issues that bind us together," Kennedy said shortly after suspending his independent presidential bid to throw his support behind Trump.
But Kennedy did not mention that he and Trump have in common the same billionaire megadonor, a reclusive heir to a Gilded Age fortune who has pumped over $165 million into the 2024 campaign thus far.
Timothy Mellon, the grandson of plutocrat Andrew Mellon, has poured tens of millions of dollars into the campaigns of both Trump and Kennedy, making the secretive billionaire the top individual donor to both.
The campaign finance watchdog OpenSecrets noted Friday in an analysis of Mellon's donations that the billionaire "made a $50 million cash infusion to pro-Trump super PAC Make America Great Again, Inc." in July, according to new Federal Election Commission filings.
"This brings his total contributions to the group to $125 million this election cycle, including a $50 million check he wrote to the super PAC the day after Trump was convicted of 34 felonies," OpenSecrets added. "Mellon's latest $50 million contribution accounts for over 90% of what MAGA, Inc. raised in July."
As for Kennedy, his hybrid PAC American Values 2024 received $25 million from Mellon earlier this year. OpenSecrets observed that Kennedy is quoted on the cover of the billionaire's autobiography, "praising Mellon as a 'maverick entrepreneur.'"
"He and Trump both shared the same major donor—billionaire nepo baby Timothy Mellon. RFK Jr.'s campaign was always a MAGA spoiler."
Robert Reich, the former U.S. labor secretary, wrote Friday that "it's no surprise" Kennedy dropped out of the 2024 race and endorsed Trump.
"He and Trump both shared the same major donor—billionaire nepo baby Timothy Mellon," Reich added. "RFK Jr.'s campaign was always a MAGA spoiler."
Mellon is a member of a powerful group known as "guardian angels," a label "for big donors who supply 40% or more of a committee's funds and are a political group's top contributor," OpenSecrets explained.
Spending from super PACs and other outside groups has topped $1 billion this election cycle, and the largest spender to date has been MAGA, Inc.
But U.S. billionaires, who are collectively richer than ever, aren't exclusively backing pro-Trump groups. Former New York Mayor Michael Bloomberg has cut huge checks to Democratic PACs, and groups backing Democratic nominee Kamala Harris have received large donations from LinkedIn co-founder Reid Hoffman and Netflix executive chairman Reed Hastings, among other rich executives.
In his primetime speech at the Democratic National Convention in Chicago on Tuesday, Sen. Bernie Sanders (I-Vt.) condemned the outsized influence of billionaire "oligarchs" on the U.S. political process, particularly in the wake of the Supreme Court's 2010 Citizens United ruling.
"Billionaires in both parties should not be able to buy elections," said Sanders. "For the sake of our democracy, we must overturn the disastrous Citizens United Supreme Court decision and move toward public funding of elections."
"Billionaires in both parties should not be able to buy elections, including primary elections," said Sen. Bernie Sanders.
Sen. Bernie Sanders said during his primetime appearance at the Democratic National Convention Tuesday night that overturning the U.S. Supreme Court's Citizens United decision should be "at the very top" of the party's list of priorities, particularly given the outsized role that billionaires and dark-money groups have played in recent elections.
"Billionaires in both parties should not be able to buy elections, including primary elections," Sanders (I-Vt.) said in his speech to Democratic delegates and activists gathered in Chicago. "For the sake of our democracy, we must overturn the disastrous Citizens United Supreme Court decision and move toward public funding of elections."
Sanders, a two-time Democratic presidential candidate, argued during his remarks that billionaire and corporate influence on U.S. elections is a major barrier obstructing policy changes that are overwhelmingly popular with the American public.
"These oligarchs tell us we shouldn't tax the rich," said the Vermont senator. "The oligarchs tell us we shouldn't take on price gouging; we shouldn't expand Medicare to cover dental, hearing, and vision; and we shouldn't increase Social Security benefits for struggling seniors."
"Well I've got some bad news for them: That is precisely what we are going to do, and we're going to win this struggle because this is precisely what the American people want from their government," he continued.
Watch Sanders' full speech:
According to the campaign finance watchdog OpenSecrets, super PACs—products of the 2010 Citizens United decision—and other outside groups have already spent more than $1 billion on federal elections this cycle, far outpacing previous election years.
The largest spender thus far has been Make America Great Again Inc., a super PAC supporting Republican nominee Donald Trump.
OpenSecrets also found that so-called "guardian angel" megadonors—"a term for big donors who supply 40% or more of a committee's funds and are a political group's top contributor"—have spent nearly $200 million so far this cycle.
The American Israel Public Affairs Committee's super PAC, which is funded by Republican billionaires, has spent big on Democratic primary contests this year in an effort to oust lawmakers who have backed a cease-fire in the Gaza Strip. Two members of the progressive "Squad"—Reps. Jamaal Bowman (D-N.Y.) and Cori Bush (D-Mo.)—recently lost primary contests to AIPAC-backed Democrats.
"We must take on Big Pharma, Big Oil, Big Egg, Big Tech, and all the other corporate monopolists whose greed is denying progress for working people."
In recent years, Sanders has repeatedly urged the Democratic Party to ban super PAC spending in its primaries, arguing that it's hypocritical for Democrats to call for campaign finance reform while simultaneously allowing billionaire-funded groups to pour staggering sums into their primary contests.
"What you're seeing from AIPAC and other super PACs is simply outrageous," Sanders said earlier this week. "Democrats often talk about the need to end Citizens United, and we agree. They talk about moving to public funding of elections. But if you're serious about the power of money in politics, you can say today, sorry, no super PACs allowed in primaries."
During his DNC speech on Tuesday, Sanders also demanded an immediate cease-fire to end Israel's "horrific war in Gaza" and said he looks forward to working with Democratic nominee Kamala Harris and her running mate, Minnesota Gov. Tim Walz, to pass an agenda that strengthens public education, slashes prescription drug prices, and expands healthcare to all.
"Let us be very clear: This is not a radical agenda," said Sanders. "But let me tell you what a radical agenda is, and that is Trump's Project 2025. At a time of massive income and wealth inequality, giving more tax breaks to billionaires is radical. Putting forth budgets to cut Social Security, Medicare, and Medicaid is radical. Letting polluters destroy our planet is radical."
"We must take on Big Pharma, Big Oil, Big Egg, Big Tech, and all the other corporate monopolists whose greed is denying progress for working people," Sanders continued. "On November 5, let us elect Kamala Harris as our president and let us go forward to create the nation we know we can become."
"Whether it's universal school meals, student debt cancellation, climate action, or a just foreign policy that reflects our values—the 5th District showed tonight that we want to drive the nation toward a better future."
U.S. Rep. Ilhan Omar handily won her primary race in Minnesota's 5th District on Tuesday, effectively securing her reelection to Congress in the face of an onslaught of pro-Israel cash aimed at unseating progressive supporters of a Gaza cease-fire and other popular policy positions.
Omar defeated her main challenger, former Minneapolis city councilmember Don Samuels, by more than 16,000 votes after narrowly fending him off in 2022. The American Israel Public Affairs Committee (AIPAC), which has spent aggressively to defeat other members of the progressive "Squad," did not get heavily involved in the Minnesota race after its attempt to recruit a different challenger failed.
Samuels' campaign did receive a late boost from pro-Israel donors—including a flurry of contributions following Rep. Cori Bush's (D-Mo.) primary loss to an AIPAC-backed Democrat last week—but Omar enjoyed a significant fundraising and spending advantage.
"I am honored that my community voted to send me back to Congress," Omar, the deputy chair of the Congressional Progressive Caucus, said after The Associated Press called the race in her favor. "Tonight's victory shows that the 5th District believes in the collective values we are fighting for in Washington."
"Whether it's universal school meals, student debt cancellation, climate action, or a just foreign policy that reflects our values—the 5th District showed tonight that we want to drive the nation toward a better future," she continued. "And our work is far from over. From protecting reproductive healthcare to reforming the Supreme Court to ending the genocide in Gaza to combatting the climate crisis—we will continue to fight for a more just world."
Tonight, special interests lost and our movement won. Thank you to everyone who was a part of it. Every single person who contributed made this moment possible.
— Ilhan Omar (@IlhanMN) August 14, 2024
Omar's decisive victory in a primary that was open to voters of all party affiliations came after candidates bankrolled by AIPAC's super PAC succeeded in defeating Bush and Rep. Jamaal Bowman (D-N.Y.) in two of the most expensive congressional primaries in U.S. history. Along with Omar, Bush and Bowman are among Congress' most vocal supporters of a Gaza cease-fire.
A Politico analysis found that AIPAC has been "the biggest source of Republican money flowing into competitive Democratic primaries this year." The lobbying organization has spent nearly $25 million on elections in 2024.
Justice Democrats, a progressive advocacy group that has been working to counter AIPAC's influence in Democratic primaries, acknowledged in the wake of Omar's win Tuesday that "our movement has suffered immeasurable losses this cycle."
"But the backlash from monied corporate and right-wing interests proves not only are we succeeding, but our mandate to elect more Justice Democrats and take big money out of politics is abundantly clear," the group added. "The greatest obstacle to Democrats delivering the agenda they have promised the American people is the influence of corporate super PACs and lobbies buying our party's inaction. We must show our voters that a brighter future is possible, if we fight for it."
Joseph Geevarghese, executive director of Our Revolution—a group that backed Omar's campaign—said Tuesday that the Minnesota progressive's victory was "a powerful rebuke to the influence of corporate money in our democracy."
"Her commitment to bold, progressive policies—whether it's climate action, Medicare for All, or standing up for a permanent cease-fire and end to unconditional aid to Israel—resonates deeply with her constituents," said Geevarghese. "The Democratic Party must take note: To secure victories in 2024 and beyond, they must embrace the policies that truly address the struggles of working families, and reject the influence of dark money that seeks to undermine our democracy."