In a significant development in the 2024 U.S. presidential race, Timothy Mellon, a conservative billionaire and heir to the Mellon banking dynasty, has made another substantial contribution to a super PAC supporting former President Donald Trump's campaign. According to a recent Federal Election Commission (FEC) filing, Mellon donated $50 million to MAGA Inc in July 2024.
This latest contribution brings Mellon's total donations to MAGA Inc to at least $115 million in 2024, including a previous $50 million gift in May. The super PAC, whose name derives from Trump's campaign slogan "Make America Great Again," has been intensifying its television advertising efforts to promote Trump's candidacy and criticize his Democratic opponent, former Vice President Kamala Harris.
Timothy Mellon, a Wyoming resident and amateur pilot with investments in transportation-related companies, is part of the influential Mellon family, whose wealth is estimated at $14.1 billion by Forbes. The family's financial empire traces its roots to 1869 when Thomas Mellon established the banking dynasty. Over the years, the Mellons have played a crucial role in America's industrialization and have a long history of political involvement.
"MAGA Inc disclosed in a filing to the Federal Election Commission that it took in more than $54 million from donors last month, with most of the money coming from Mellon."
The Mellon family's political influence extends back generations. Timothy Mellon's great-uncle, Andrew W. Mellon, served as U.S. Secretary of the Treasury from 1921 to 1932, demonstrating the family's longstanding connection to American politics.
It's worth noting that super PACs, which emerged following the 2010 Citizens United v. FEC Supreme Court decision, can accept unlimited contributions from individuals. However, they are prohibited from coordinating directly with political campaigns. The FEC is responsible for enforcing these campaign finance laws.
As the 2024 presidential election, scheduled for November 5, 2024, draws closer, the role of wealthy donors like Timothy Mellon in shaping the political landscape becomes increasingly apparent. With no limits on super PAC contributions, the influence of billionaire donors on the electoral process continues to be a topic of debate in American politics.