Billionaires favored Vice President Kamala Harris’ campaign over President-elect Donald Trump, according to Forbes’ analysis of campaign finance disclosures.
Eighty-three billionaires threw verbal or financial support behind Harris, while just 53 backed Trump, according to Forbes. Trump’s victory on election night came despite a massive financial disadvantage, with his campaign raising $388 million as of Oct. 16, compared to the nearly $1 billion the Harris campaign had collected.
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A coalition of Harris’ wealthy backers wrote a letter in September explaining their support for her.
“With Kamala Harris in the White House, the business community can be confident that it will have a President who wants American industries to thrive,” the letter, first obtained by CBS News, read. “As a partner to President Biden, Vice President Harris has a strong record of advancing actions to spur business investment in the United States and ensure American businesses can compete and win in the global market. She will continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment, and she will strive to give every American the opportunity to pursue the American dream.”
Signatories of the letter included former Time Warner CEO Jeff Bewkes, former American Airlines President Robert Crandall, LinkedIn co-founder Reid Hoffman and “Shark Tank” star Mark Cuban. Other billionaires who supported Harris included Mike Bloomberg, Steven Spielberg, Sequoia Capital’s Michael Moritz, Google’s Eric Schmidt and Facebook’s Sheryl Sandberg, according to Forbes.
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Elon Musk was among the most prominent billionaires who supported President-elect Trump, endorsing him shortly after the attempt on his life in July, according to Reuters.
“Last time America had a candidate this tough was Theodore Roosevelt,” Musk said, following his endorsement.
Other billionaires who backed Trump included Linda McMahon of WWE fame, the Winklevoss twins, Miriam Adelson, the widow of Sheldon Adelson, and Sequoia Capital’s Douglas Leone, according to Forbes.
The trend of wealthy people supporting Harris held at lower levels of wealth as well, with a September survey of investors with over $1 million in assets finding that 57% planned to vote for Harris, CNBC News reported.
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Despite the massive influx of cash into Harris’ election effort, two sources familiar with her finances say the campaign ended with at least $20 million in debt, according to a Politico reporter.
The Harris campaign did not immediately respond to the Daily Caller News Foundation’s request for comment.
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First published by the Daily Caller News Foundation.