Former President Donald Trump emerged the winner of the United States (U.S.) presidential election on 5 November 2024, defeating Vice President Kamala Harris.
The Republican candidate secured 291 electoral votes, surpassing the 270 needed to win the presidency, while his Democratic opponent, Harris, garnered 222 electoral votes.
Trump, who will return to the White House after his failed reelection bid in 2020, also won the popular vote.
As is tradition, Trump will be inaugurated as president and officially take office on Monday, 20 January 2025, following the customary transition period after the election.
Between now and 20 January 2025, President-elect Trump and Vice President-elect J.D. Vance will work with their transition team to coordinate the handover from President Biden’s administration.
However, Trump’s journey to becoming the 47th president of the United States was not an easy ride and aside from other key issues, was influenced by some of his billionaire friends and allies who played significant roles in his victory.
In this article, Tribune Online takes a look at some of Trump’s billionaire friends who influenced his election victory.
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Elon Musk
The CEO of Tesla and X, Elon Musk, is arguably one of the biggest supporters of Trump. According to the Federal Election Commission (FEC), Musk donated an estimated $132 million to Trump and other Republicans in the run-up to the election.
Musk’s influence also extends beyond financial contributions; he actively promoted Trump on his social media platform, X, and engaged in public discussions aimed at rallying support among younger voters.
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Stephen Schwarzman
Stephen Schwarzman, the CEO of Blackstone, had previously distanced himself from Trump but later reversed his position, citing dissatisfaction with Biden’s policies.
The endorsement of the longstanding Republican donor was seen as a significant boost for Trump’s campaign, given his stature in the financial world. Schwarzman’s support also encouraged other business leaders to back the candidate.
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Miriam Adelson
Miriam Adelson, widow of casino magnate Sheldon Adelson and a Presidential Medal of Freedom recipient under Trump, also played a huge role in Trump’s victory.
Before the election, she announced renewed support for Trump by revealing her plans to relaunch her Preserve America super PAC with over $90 million in donations to bolster Trump’s 2024 campaign. Adelson, with a net worth of $29.3 billion, was among Trump’s largest backers in 2020, contributing over $120 million to support his campaign and other Republican causes.
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Bill Ackman
The billionaire hedge fund manager publicly endorsed Trump, predicting a decisive victory for him. Ackman emphasized the idea that voters often gravitate towards the most “authentic” candidate, a label he applied to Trump.
In a recent X post, he wrote, “Other than 2020, in my lifetime, the American people almost always choose the most authentic candidate. That’s why I think this one will be a @realDonaldTrump landslide.”
Read Also: US election: Key issues that propelled Trump’s return to White House
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Doug Leone
Doug Leone, a Sequoia Capital partner valued at $8 billion, also supported Trump. In 2020, he contributed around $700,000 to Trump’s campaign. Leone cited concerns over issues like immigration, the national deficit, and foreign policy as motivations for backing Trump again in 2024. He joined a group of Silicon Valley venture capitalists, including David Sacks, Chamath Palihapitiya, and Sequoia partner Shaun Maguire, who supported Trump during the election.
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Nelson Peltz
Initially critical of Trump following the January 6 Capitol riots, Peltz shifted his stance after Trump secured the Republican nomination on 15 July 2024. At a gathering of wealthy Republicans, he acknowledged the necessity of supporting Trump despite personal reservations, citing the dire state of the country under Biden’s administration.
