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Gates Makes Big Donation
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Gates Makes Big Donation

Bill Gates has made headlines yet again, this time for reportedly contributing a massive $50 million to Future Forward, a nonprofit supporting Vice President Kamala Harris’s presidential campaign. Three sources confirmed the donation to The New York Times, adding that Gates had hoped to keep it private since he traditionally avoids endorsing presidential candidates. But now that it’s out, supporters of Harris are celebrating the tech titan’s involvement.

Social media, particularly accounts like Kamala’s Wins, wasted no time spreading the news. "Bill Gates just contributed more than $50 million to organizations supporting Kamala Harris. This is huge,” one post announced, stirring excitement among Harris backers.

But the donation itself raises some eyebrows, given Gates’s longstanding preference to remain on the sidelines of political endorsements. It seems that Gates, like many other billionaires, is concerned about a potential second term for Donald Trump. In fact, he reportedly shared his dissatisfaction about this possibility during a private phone call. Still, Gates has maintained that he is willing to work with either administration, keeping the door open to collaboration, regardless of who takes office.

This hefty donation from Gates isn’t an isolated incident either. According to Forbes, Harris has seen financial backing from 81 billionaires, compared to the 50 who support Trump. Her donor list includes influential names like LinkedIn co-founder Reid Hoffman and Atlanta Falcons owner Arthur Blank, illustrating just how many major players are putting their money behind her bid for the presidency.

Gates’s contribution also highlights a clear contrast with his ex-wife, Melinda French Gates, who has been much more vocal about her political leanings. She threw her support behind Joe Biden in June, citing his stance on women’s rights and criticizing Trump’s administration for being hostile toward women, especially on issues like abortion. Melinda pointed to Trump’s Supreme Court picks, particularly his role in setting the stage for the overturning of Roe v. Wade, as a major issue for women across the country.

While Melinda has made her stance public, Bill has been more reserved—until now. His $50 million donation comes amid reports that Harris’s campaign has widened its financial lead over Trump. In fact, according to the latest filings with the Federal Election Commission, Harris’s campaign committee out-raised Trump’s by more than 3-to-1 in September alone. Her committee pulled in a staggering $221.8 million, compared to Trump’s $62.7 million.

Interestingly, both campaigns have been burning through cash at an aggressive pace, especially on media buys. Harris’s campaign spent $270 million last month, including a massive $225 million on media efforts, while Trump’s campaign spent $78 million, with around $53 million going toward media.

Despite the huge spending spree, Harris still retains a financial advantage. Her campaign began October with $187 million in cash on hand, compared to Trump’s $120 million. This cash advantage, combined with allied fundraising committees, pushed Harris to raise over a billion dollars in just one quarter—the largest amount ever reported between July and September. As both campaigns gear up for the final stretch before Election Day, the fundraising war is heating up, and the gap continues to widen.

Written by Arthur Higgens - October 24, 2024