Trump-affiliated PAC received $50 million donation from one wealthy backer one day after Trump's conviction

 June 22, 2024

Former President Donald Trump was criminally convicted in New York more than three weeks ago, but if his political opponents thought that guilty verdict would devastate his re-election campaign, they were sorely mistaken.

Trump's campaign and associated political action committee have received an influx of donor cash over the past two months, including a single donation of $50 million from one wealthy backer just one day after the conviction was announced, according to the BBC.

The surge of financial support for Trump both during and after the New York criminal trial has all but rendered that felony verdict meaningless, at least politically.

$50 million post-conviction donation

The Trump-affiliated MAGA Inc. Super PAC revealed in a recent Federal Election Commission filing that it raised approximately $68 million from pro-Trump donors in the month of May, including a contribution of $50 million from one particularly wealthy donor.

That single donor was Timothy Mellon, heir to the Mellon banking family, who made that $50 million donation to the Trump-affiliated Super PAC just one day after a New York jury convicted the former president on 34 felony counts of falsification of business records related to the 2017 reimbursement of a 2016 hush money payment to silence allegations of an extramarital affair.

Interestingly enough, Mellon had previously been backing the independent candidacy of Robert F. Kennedy Jr. and had reportedly given at least $20 million to Kennedy's Super PAC, American Values, before apparently shifting his financial support to the embattled former president.

Of course, President Joe Biden has his own ultra-wealthy benefactors, too, as the BBC reported that a Biden-affiliated Super PAC, Future Forward, received nearly $20 million from billionaire former New York City Mayor Mike Bloomberg.

Trump has closed fundraising gap, now has more cash-on-hand than Biden

ABC News reported that up until just recently, the Biden campaign routinely bragged about the substantial fundraising advantage it had built up over the rival Trump campaign, but that advantage is now gone as significant funding has flowed into Trump's coffers over the past couple of months.

Per FEC filings, the Trump campaign and Republican National Committee collectively raised more than $141 million in May, including more than $53 million received by the campaign in the first 24 hours after the guilty verdict in New York, much of which came from small or first-time donors.

Comparatively, the Biden campaign and the Democratic National Committee revealed that they jointly raised around $85 million that same month.

Now, after the Biden campaign previously bragged about having a more than $100 million cash-on-hand advantage over the Trump campaign, Trump's team is sitting on more than $172 million in cash-on-hand while Biden's team claims to have about $157 in available cash.

Trump still leads in the polls

Also contrary to the dire prognostications from some, Trump's position in the polls hasn't been substantially altered by the guilty verdict in New York, as the RealClearPolling average of national polls currently shows the former president with an approximately one-point lead over the incumbent president.

To be sure, Trump did suffer a precipitous drop-off in support immediately following his conviction, but so too did Biden, and while the numbers for both are now trending back upwards, Trump's recovery in the polls has been a little bit swifter than Biden's.

Making matters even worse for Biden is that he held a nearly 10-point lead over Trump on this same date in the 2020 campaign, whereas he now trails by one point, and on top of that, Trump has maintained his varying leads in all of the most important battleground states that typically decide presidential elections.

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