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Writer's pictureAmit Mathur

Is Political Endorsement by Billionaires a Good Thing for Candidates?

Bill Gates has reportedly joined a long list of 81 billionaires who have shown support for Vice President Kamala Harris. The former Microsoft CEO has donated about $50 million to a 'dark money' group backing the Democratic presidential nominee, The New York Times reported on Tuesday. This comes as Tesla and SpaceX CEO Elon Musk has been campaigning for former President Donald Trump.



The NY Times cited two people briefed on the matter to report that Gates sent the money to the pro-Harris fundraising group Future Forward. “Mr. Gates has talked about his pro-Harris donation with his peers, including Mike Bloomberg, the former New York City mayor and a major supporter of Future Forward who has considered a similarly sized gift,” the publication wrote.


Future Forward does not have to disclose its donors as a 501(c)(4) organization, hence it is likely that Bill Gates' donation will stay private.

Meanwhile, Forbes reported on Tuesday that 81 billionaires are supporting Harris and 50 are backing Donald Trump. The list is not public yet. Last month, over a dozen billionaires signed a letter endorsing the VP, citing her commitment to promoting stable and fair policies that uphold the rule of law and foster a strong business climate. This backing aligns with the current strength of the US economy and stock market.


A recent survey of millionaire investors, according to Forbes, showed a 57% to 43% preference for Harris, with technology, healthcare, and sustainability stocks identified as the sectors likely to benefit from her victory. Many of her billionaire supporters from Silicon Valley became familiar with Harris during her tenure as a prosecutor in California.



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