Wall Street Funnels Cash Into Harris Campaign as Musk and Crypto Industry Rally Behind Trump
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Wall Street, Silicon Valley, and Hollywood donors played a pivotal role in boosting Vice President Kamala Harris’ fundraising efforts in August.
The surge has provided the Democrats with a significant financial edge over former President Donald Trump, as they head into the most costly phase of the presidential election, according to a recent report by Fortune.
Harris’ campaign managed to raise an impressive $361 million in August, bringing the Democratic party’s total cash on hand to $404 million.
In contrast, Trump’s campaign raised $130 million during the same period, spending $32 million more than what was brought in due to a costly advertising blitz aimed at countering Harris’ momentum.
Trump’s primary super political action committee (PAC), Make America Great Again Inc., also saw its reserves dwindle.
Despite the close polling, Harris has established a clear lead in the financial race.
The Vice President’s fundraising efforts included numerous high-profile events in places like San Francisco and the Hamptons, tapping into California’s deep-pocketed donor base.
Her campaign and allied super PAC, Future Forward PAC, have secured $421 million in paid media for the final months leading to Election Day, nearly doubling the $216 million booked by Trump and MAGA Inc.
The finance industry has been a significant source of support for Harris.
High-profile contributors include Bruce Karsh of Oaktree Capital Management, Robert Stavis from Bessemer Venture Partners, and I Squared Capital’s co-founder Sadek Wahba.
Other notable donors
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