The rivalry between Tesla CEO Elon Musk and former Microsoft CEO Bill Gates is nothing new. Their differences date back years, back to when the two billionaires clashed over Gates’ investments in Tesla.
Now, these differences are evident in the donations both billionaires have made to former President Donald Trump and Vice President Kamala Harris during the U.S. presidential election race.
Gates’ discreet donation. According to The New York Times, Gates reportedly donated $50 million to Harris’ campaign. In contrast to Musk’s effusive support for Trump, Gates has avoided taking a public stance on politics for the past 30 years. But as the billionaire told the Times, “This election is different.”
The Microsoft co-founder has tried to maintain a low profile and be discreet with his donations. For this reason, he donated through Future Forward, which gathers outside donations for Harris’ campaign. It also operates under Section 501(c)(4) of the tax code, which means it’s not required to disclose its donors, so it wouldn’t reveal Gates’ identity.
Gates is concerned about a second Trump term. According to the Times, the billionaire has expressed worries about the consequences of a second Trump presidency. However, Gates assured that he could continue to work with either of the two candidates. “I have a long history of working with leaders across the political spectrum, but this election is different, with unprecedented significance for Americans and the most vulnerable people around the world.”
The billionaire has spoken positively about the Biden-Harris administration’s work on climate change, in contrast to the climate denialism that the Republican candidate has shown on various occasions. Similarly, the philanthropist has expressed concern about the potential cuts that a future Trump presidency could bring to global health and cooperation.
After his donation to Harris became public, the billionaire told the Times, “I support candidates who demonstrate a clear commitment to improving health care, reducing poverty, and fighting climate change in the U.S. and around the world.”
Musk hasn’t been as discreet. The Tesla CEO, who has shown support for Democratic candidates in previous elections and had some disagreements with Trump during his presidency, initially tried to stay out of the presidential campaign during the first weeks. However, the assassination attempt on Trump during a rally drastically changed Musk’s initial attitude, turning him into one of Trump’s prominent financial supporters.
Musk’s support for Trump’s candidacy has intensified in recent weeks. He even shared the stage with the Republican candidate while increasing his donations to Trump’s campaign. One of his latest initiatives is the daily drawing of a million dollars among those who sign a petition saying they support the Constitution, something that, according to CNN, the Department of Justice is already investigating to determine if it constitutes a crime.
The polarization of large fortunes. Traditionally, presidential elections have been financially supported by a large group of millionaires and corporations backing one of the two parties.
But, as Business Insider pointed out, the campaigns featuring Trump and Harris are mobilizing millionaires from both parties. Gates and Musk—who have maintained a more discreet profile in previous elections—are leading the list of supporters and even taking the stage to defend their candidates publicly.
Images | The Royal Society (Duncan.Hull) | UK Department for International Development
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