The Money Race and the Billionaire Backers

Elon Musk, the world's richest man, has now spent a whopping $119 million to support Donald Trump's return to the White House, a new set of reports shows. In just one month, October, Musk funneled almost $44 million into a super PAC backing Trump. Despite this largesse, Trump's Democratic rival, Vice President Kamala Harris, outpaced him in fundraising, raking in about $97 million in the same timeframe. Both candidates are spending a fortune fast, with Harris eclipsing Trump's spending by nearly $67 million between October 1 and 16. Harris's campaign has the edge in terms of cash reserves too, with around $119 million left compared to Trump's $35 million. Harris' big lead in fundraising lets her play big on advertising, spending about $488 million on ads since President Joe Biden dropped out. Trump trails at $284 million in ad spending.

Musk isn't the only billionaire backing Trump. Nelson Peltz chipped in $1 million, and the DeVos family contributed six-figure sums. Trump's also getting hefty donations from Midwestern businessman Richard Uihlein and others. On Harris' side, Facebook co-founder Dustin Moskovitz donated $25 million, making his total $38 million. Liz Cheney, who campaigned with Harris, gave $2. 5 million to a leading Democratic group. Moreover, Trump's campaign is footing a big legal bill – $3. 9 million on legal consulting in just two weeks. Their spending spree highlights the intense competition for the upcoming Election Day.

Actions