Ultra-Wealthy Donors Rally Behind Trump Post-Conviction

Prominent Republican donors are rallying behind former President Donald Trump following his recent criminal conviction. Almost $53 million for Trump’s campaign was raised within 24 hours of the verdict.

Israeli-American casino billionaire Miriam Adelson is expected to announce a significant contribution to Trump’s campaign this week, reportedly seeking to donate to the political action committee Preserve America.

Support for Trump is growing among other wealthy backers. Silicon Valley investor David Sacks posted on social media that there “is now only one issue in this election: whether the American people will stand for the USA becoming a Banana Republic.” Sacks, along with fellow investor Chamath Palihapitiya, is planning a fundraiser for Trump in San Francisco. Attendees will be asked to contribute up to $300,000.

Hedge fund manager Bill Ackman, who previously criticized Trump after the Capitol riot, is also expected to announce support for the former president. Blackstone Group CEO Steve Schwarzman, who had distanced himself from Trump, recently stated that he shares “the concern of most Americans that our economic, immigration, and foreign policies are taking the country in the wrong direction.”

Other prominent supporters include hedge fund founders John Paulson and Robert Mercer, fracking pioneer Harold Hamm, and casino mogul Steve Wynn.

Some prominent donors, such as Peter Thiel, reportedly declined to contribute to Trump’s campaign.