Billionaire donors, key financiers of the Democratic Party, have pledged to support Vice President Kamala Harris’s presidential bid following President Joe Biden’s announcement that he will not seek re-election. Like Biden, several prominent donors have publicly endorsed Harris, securing her the backing of the party’s wealthiest supporters, including George Soros and his son Alex.
Reid Hoffman, a major Harris backer, has a controversial past. In May 2023, he admitted to visiting Jeffrey Epstein’s private island, known as “Little Saint James” or “Pedophile Island.” Hoffman has been a significant contributor to Harris’s campaign, having spent $7 million in 2020 on pro-Biden political action committees and anti-Trump ads. He and his wife, Michelle Yee, donated nearly half a million dollars to Biden’s campaign and joint fundraising committees.
According to NBC News, billionaire donors are opening their wallets for Harris, viewing her as a reliable ally within the White House. Harris has long been a favorite among wealthy individuals on the East and West coasts.
During her 2019 presidential campaign, Harris received nearly exclusive funding from California residents, including those working for major law firms, multinational corporations, and Silicon Valley tech giants. Billionaire Gordon Getty, of the Getty Oil dynasty, hosted fundraisers for Harris at his San Francisco mansion, alongside Governor Gavin Newsom. Harris also received significant donations from big pharmaceutical companies and Wall Street power brokers.
