Why do people continue to support the GOP
Major donorsTrump's billionaire supporters
Donald Trump evacuated the Oval Office a week ago, but the former US President still does not want to step down from the political stage. In his farewell speech last week, he had already stated that he would return "in some form".
On Monday, Trump announced the opening of an official office, the "Office of the Former President", in a press release. The office is responsible for organizing Trump's statements and public appearances "in the interests of the United States of America" and "continuing" the Trump administration's agenda through advocacy and public activism. Observers appreciate the move that Trump has by no means written off his political career.
He can hope for approval: Trump continues to enjoy support among the American population and among the Republicans - even after the violent assault on the Capitol and the distancing of many business partners and political supporters. According to surveys, around a third of the population considers US President Joe Biden to be illegitimate. Although approval for Trump has decreased significantly among Republicans, two-thirds still support him.
Trump has long had influential advocates among America's super-rich. One of the most famous, Blackstone CEO Stephen Schwarzman, stood by Trump shortly after the November election and temporarily defended his unproven claims about election fraud. Schwarzman ultimately condemned Trump's influence on the Capitol storm. "The uprising that followed what the president said today is appalling and an affront to the democratic values that we as Americans value," Schwarzman wrote in a statement.
Hardly any reactions after storming the Capitol
Many of Trump's wealthy supporters, who donated millions of dollars to the former US president in his election campaign, were more reluctant. Andrew Beal, founder and owner of Beal Financial Corporation, responded with a statement through a representative after the events of January 6th. Accordingly, he doesn't know what happened, he wasn't there personally and no longer trusts the mainstream news media. Beal had actively supported Trump's election campaign for a second term and donated US $ 1.2 million to the Super PAC Trump Victory. The Political Action Committee (short: PAC) collects donations for the election campaign of Trump and the Republicans.
Many other major donors worth billions had also given Trump Victory donations in the millions. Unlike Beal, however, many of them remained silent in the face of recent events, including Kelcey Lee Warren, founder and CEO of Energy Transfer Partners. Warren donated a total of $ 2.3 million to Trump Victory, making it one of the fundraising committee's largest donors. It remains to be seen whether he will continue to support Trump. The same applies to many other billionaire and often long-term supporters of the former US president. Capital took a closer look at some of them.
These are Trump's billionaire supporters
Sheldon (†) & Miriam Adelson (Estimated Net Worth: $ 36 billion
With the death of casino mogul Sheldon Adelson on January 11, Trump lost one of his greatest supporters - even if his wife Miriam could continue to support him in the future. The couple donated almost US $ 220 million to the Republicans for the presidential and congressional elections alone. Of this, $ 1.2 million went to the Trump Victory Committee. The Adelsons are also among the longest and richest Trump supporters. Very different from Peoplesoft and Workday boss David Duffield. Although he is one of the richest Trump supporters, he donated US $ 1.2 million to Trump Victory for the first time in the summer of 2020. Usually Duffield is reluctant to donate to political parties. Why he has now supported Trump, Duffield did not want to reveal.
Kenny Trout (Estimated Net Worth: $ 1.5 billion)
Kenny Troutt (left), founder of the telecommunications company Excel Communications, is considered a major Republican donor. Troutt and his wife Lisa donated around 1.9 million US dollars to Trump Victory. Of this, US $ 450,000 flowed towards the end of the election campaign and a few weeks after the election. Isaac Perlmutter, chairman of Marvel Entertainment, also donated $ 1.9 million. Mother of pearl and Trump have a friendship, and mother of pearl is also a member of Trump's Mar-a-Lago golf club. According to a report in the New York Times, he was part of a closer circle that Trump, as US President, consulted outside the White House.
Diane Hendricks (Estimated Net Worth: $ 8 billion)
Diane Hendricks became a major donor relatively late in the 2020 election campaign, but distributed around $ 5 million to various Republican super PACs in August and September. US $ 1.2 million went to Trump Victory. Hendricks is the founder of roofing company ABC Supply and is considered the richest self-made woman in the USA. She is one of the biggest supporters of the Republicans in Wisconsin and backed Trump's election campaign with $ 8.1 million in 2016. In August 2016, Trump also nominated her for his Economic Advisory Team.
Robert Duggan (Estimated Net Worth: $ 2.6 billion)
Pharmaceutical billionaire and biotech investor Robert Duggan donated large sums to Trump Victory towards the end of the election campaign. In August, Duggan announced that he would "do a lot more as we get closer to the election". A total of $ 4.6 million went to various Republican Super PACs. US $ 1.6 million went to Trump Victory. From October to the end of November alone, Duggan donated US $ 617,000 and thus supported Trump financially even after the US election. In addition to David Duffield and heiress Margaretta Taylor, the investor, who is best known in the USA as one of the richest Scientologists, is one of the newest members among the billionaire Trump supporters.
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