Sources near Gates reportedly informed the outlet that the billionaire, lengthy identified for staying out of politics publicly, had donated about $50 million to a nonprofit supporting Harris’s run.
In a press release to the Instances, Gates didn’t affirm or deny the donation however stated, “this election is different.” Fortune has reached out to Gates for remark.
In response to The Instances report, Gates is anxious about former President Donald Trump’s financial insurance policies and potential cuts to household planning and world well being packages.
Gates’ donation supporting the Democratic nominee comes as sentiment has shifted in current days about Harris’ possibilities to defeat Trump within the presidential election. Crypto prediction platform Polymarket, which has $2.3 billion in wagers on the election final result, is tilted closely in favor of Trump with 64% odds on the Republican because the victor. PredictIt has comparable odds favoring a Trump win subsequent month.
Billionaire investor Stanley Druckenmiller, identified for his clear-sighted navigation by geopolitical uncertainty, advised final week in an interview with Bloomberg that market insiders are banking on a Trump win. In that state of affairs, there could be a “red sweep” of Republican candidates, he stated.
“Personally, I think anybody that votes for Trump is probably not going to change their ballot for a Democrat in Congress,” he added.
Alternatively, Harris has continued to draw backers with deep pockets.
Fellow billionaire and philanthropist Melinda French Gates endorsed Harris in July and made a giant donation to her marketing campaign. “I feel like Kamala, I was happy to endorse,” French Gates informed Stephen Colbert on The Late Present in July. “I’ve worked with her before, she knows what we need in society and she’s using her voice against those issues already on the campaign trail, and I knew she would.”
French Gates beforehand endorsed President Biden in June—her first time ever declaring for a presidential candidate.
Equally, billionaire and philanthropist Laurene Powell Jobs donated to Harris, who’s certainly one of her longtime shut associates.
Powell Jobs and her philanthropy and funding agency Emerson Collective have been closely funding democratic politics for the previous a number of years. Since 2020, Powell Jobs and Emerson Collective have donated greater than $3.4 million to democratic nominees and different funds, in keeping with Federal Election Fee filings collected by Fortune.
This breaking information report will likely be up to date shortly.
