Invoice Gates gave $50 million to again Kamala Harris for president: NYT

Sources near Gates reportedly advised the outlet that the billionaire, lengthy identified for staying out of politics publicly, had donated about $50 million to a nonprofit supporting Harris’s run.

In a press release to the Occasions, Gates didn’t verify or deny the donation however stated, “this election is totally different.” Fortune has reached out to Gates for remark.

In accordance with The Occasions report, Gates is worried about former President Donald Trump’s financial insurance policies and potential cuts to household planning and world well being applications.

Gates’ donation supporting the Democratic nominee comes as sentiment has shifted in current days about Harris’ possibilities to defeat Trump within the presidential election. Crypto prediction platform Polymarket, which has $2.3 billion in wagers on the election end result, is tilted closely in favor of Trump with 64% odds on the Republican because the victor. PredictIt has related odds favoring a Trump win subsequent month. 

Billionaire investor Stanley Druckenmiller, identified for his clear-sighted navigation by geopolitical uncertainty, urged final week in an interview with Bloomberg that market insiders are banking on a Trump win. In that state of affairs, there can be a “pink sweep” of Republican candidates, he stated. 

“Personally, I feel anyone that votes for Trump might be not going to alter their poll for a Democrat in Congress,” he added.

Alternatively, Harris has continued to draw backers with deep pockets. 

Fellow billionaire and philanthropist Melinda French Gates endorsed Harris in July and made a giant donation to her marketing campaign. “I really feel like Kamala, I used to be completely happy to endorse,” French Gates advised Stephen Colbert on The Late Present in July. “I’ve labored together with her earlier than, she is aware of what we want in society and he or she’s utilizing her voice towards these points already on the marketing campaign path, and I knew she would.”

French Gates beforehand endorsed President Biden in June—her first time ever declaring for a presidential candidate. 

Equally, billionaire and philanthropist Laurene Powell Jobs donated to Harris, who’s one in every of her longtime shut buddies. 

Powell Jobs and her philanthropy and funding agency Emerson Collective have been closely funding democratic politics for the previous a number of years. Since 2020, Powell Jobs and Emerson Collective have donated greater than $3.4 million to democratic nominees and different funds, in keeping with Federal Election Fee filings collected by Fortune. 

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