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DAILY COVER Kamala Harris Has More Billionaires Prominently Backing Her Than Trump—Tyler Perry, Bill Ackman Weigh In (Update)
Oct 16, 2024,09:55am EDT
TOPLINE Forbes found at least 100 billionaires in the corners of either former President Donald Trump or Vice President Kamala Harris—with many more backing Harris—but unlike the world’s richest man Elon Musk, who stumps extensively on Trump’s behalf, many have elected to watch from the sidelines, like Warren Buffett and Mark Zuckerberg.
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DAILY COVER
Kamala Harris Has More Billionaires Prominently Backing Her Than Trump—Tyler Perry, Bill Ackman Weigh In (Update)
Derek Saul
Forbes Staff
Derek Saul has covered markets for the Forbes news team since 2021.
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Oct 16, 2024,09:55am EDT
TOPLINE Forbes found at least 100 billionaires in the corners of either former President Donald Trump or Vice President Kamala Harris—with many more backing Harris—but unlike the world’s richest man Elon Musk, who stumps extensively on Trump’s behalf, many have elected to watch from the sidelines, like Warren Buffett and Mark Zuckerberg.
16×9-Illustration-by-Forbes;-Photos-by-Win-McNamee-Getty-Images;-Saul-Loeb-AFP-Getty-Images
Trump and Harris during their September [+]presidential debate.
ILLUSTRATION BY FORBES; PHOTOS BY WIN MCNAMEE/GETTY IMAGES; SAUL LOEB/AFP/GETTY IMAGES
KEY FACTS
Our breakdown records 79 billionaires supporting Harris and 50 backing Trump so far (see the lists for both below).
Many more billionaires may still financially back a candidate, but their donations won’t be learned until after the election, when final Federal Election Commission reports are issued in December.
Billionaires leaning toward Harris may seem incongruous, since she often criticizes Trump for advocating for policies favorable toward billionaires—but there are practical reasons why the ultra wealthy may favor Harris.
A letter signed by more than a dozen billionaires last month endorsing Harris explained their belief Harris “will continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment,” indicating the support for the status quo as the U.S. economy and stock market exhibit strength, while a recent survey of millionaire investors—which found a 57% to 43% split in Harris’s favor—identified technology, healthcare and sustainability stocks as the sectors most poised to benefit from a Harris win, a mix friendly to many of her billionaire backers from Silicon Valley, who grew familiar with Harris during her time as a California prosecutor.
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