Big donors get major roles in new Trump administration

CNN-

Nearly three dozen of President-elect Donald Trump's picks to serve in his new administration have donated to his campaign or to the deep-pocketed outside groups that worked to elect him, according to a CNN analysis of federal campaign records.

They range from tech multibillionaire Elon Musk, who became the largest revealed political donor of the 2024 presidential election, to others close to Trump tapped for key government roles.

In total, eight of his Cabinet picks, led by Linda McMahon, the billionaire wrestling mogul whom Trump chose to oversee the Department of Education, and their spouses have donated more than $37 million combined from their personal accounts to help Trump, the study found, highlighting the proliferation of ultra-wealthy Americans are now poised to shape U.S. policy in the new Trump administration.

(Two other Cabinet picks, New York Rep. Elise Stefanik and Florida Rep. Mike Waltz, moved money from their campaign accounts to the pro-Trump effort.)

Musk was not tapped for a formal Cabinet position, but he is helping guide a new initiative at the Department of Government Effectiveness and has played a central role in the presidential transition by offering his perspective on job candidates, speaking with world leaders and meeting with lawmakers on Capitol Hill. he is considering how to downsize the federal government.

In total, the SpaceX and Tesla CEO donated more than $277 million to this cycle's federal elections, the lion's share of which, more than $262 million, benefited Trump. Most of Elon Musk's pro-Trump dollars went to a super PAC that the world's richest man created to help mobilize voters on behalf of Republicans in key states.

Outside of self-funded presidential candidates, no one has given as much to shape federal elections in a single election cycle, said Brendan Glavin, research director of OpenSecrets, a nonpartisan organization that analyzes money in politics .

Trump donors don't just get these kinds of ambassadorial posts, Glavin said. Major donors get positions that affect policy.

The CNN analysis studied the more than 90 people Trump had announced for top administration positions through Tuesday, five weeks after his election victory. More than 30 of them had donated to his campaign or one of the major outside groups aligned with Trump, according to the FEC's review of records.

Millions of Americans, weary of the failure of the White House and the federal government, have joined President Trump in the movement to restore our nation's greatness. Some of those who will work with President Trump are among the millions of people who supported the campaign and helped the president win a decisive election victory, Brian Hughes, a spokesman for the Trump transition team, said in a statement. released in response to CNN's investigation into donors joining the administration. .

The total donations from Trump's current Cabinet picks mark an increase from Trump's first term. Five members of his original Cabinet had donated nearly $8 million to his committees or to major outside groups supporting him, according to a review of campaign reports.

Donations from McMahon, who served as Trump's SBA administrator during his first term in the White House, accounted for more than 90% of that total during the 2016 election.

The amount spent to help Trump in 2024 far exceeds the donations that members of President Joe Biden's Cabinet contributed to help him win the White House in 2020, according to FEC records.

A dozen Biden Cabinet members reported donations to his campaign or major super PACs involved in the 2020 election, giving less than $100,000 in total.

Musk's spending has eclipsed that of other supporters.

McMahon was the largest donor among Trump's cabinet picks and the second most generous contributor, after Musk, among announced administration members through Tuesday, according to the study.

Most of the $21.2 million she donated went to Make American Great Again, Inc., the main Trump-affiliated super PAC that spent heavily on advertising to support his campaign.

Other seven-figure donors among Trump's Cabinet picks include Cantor Fitzgerald chief Howard Lutnick, whom Trump chose to serve as Commerce secretary; Scott Bessent, the hedge fund executive Trump chose to oversee the Treasury Department; and former Georgia Sen. Kelly Loeffler, his pick to lead the Small Business Administration.

Loeffler's husband, Jeff Sprecher, was also a major donor, contributing more than $2 million to the pro-Trump super PAC MAGA Inc. and Trump's joint fundraising committee.

Sprecher is the CEO of the Intercontinental Exchange, which owns the New York Stock Exchange, and was at Trump's side when the president-elect rang the stock exchange's opening bell on Thursday.

In an email, Loeffler's communications director, Caitlin ODea, said: “Senator Loeffler is proud to be one of President Trump's strongest supporters for the same reason as an overwhelming majority of Americans voted for his return to the White House: he will restore prosperity, safety and security to the United States. and opportunity.

The billionaire's embrace marks something of a turnaround for Trump, who saw U.S. businesses cower before him after the violent Jan. 6, 2021, attack on the U.S. Capitol. And he's seen new support from tech leaders who are pushing for fewer regulations from the federal government.

Musk's huge spending in this year's election allowed Trump to narrow the financial advantage of his Democratic rival, Vice President Kamala Harris, who quickly raised $1 billion after becoming the state's standard-bearer. left at the end of July.

Super PACs are subject to no limits on the amount of donations they can receive or spend, but are technically not allowed to coordinate their advertising decisions with the candidates they support.

However, a ruling this year by the FEC granting campaigns the ability to coordinate with outside political action committees on paid canvassing efforts freed Musk to run a field game for Trump.

The campaign finance system is a joke, said Fred Wertheimer, who heads the watchdog group Democracy 21 and is a longtime proponent of limits on money in politics. Musk is today the example of the failure of campaign finance laws.

He expressed concern about government departments run by billionaires who have no interest in doing the work that has been entrusted to the agency.

Musk did not respond to CNN's inquiries.

But Tom Davis, a former Virginia congressman who chaired the Republican House campaign for several years, says there's nothing inherently wrong with people who won big money want to give it back through the government.

The fact that they contributed shows some loyalty, he added.

Friends and family

Presidents often reward donors and allies with prestigious positions by often sending them to prestigious, low-conflict posts in Europe or the Caribbean.

Some of Trump's early picks for ambassadorships follow this pattern and include billionaires who have donated to his re-election effort. Among them: Arkansas investor Warren Stephens, named U.S. envoy to the United Kingdom, and Charles Kushner, Trump's choice for ambassador to France, one of several extended family members or close friends who were chosen for diplomatic missions.

Kushner, who donated $2 million to pro-Trump efforts and was granted a presidential pardon at the end of Trump's first term, is the stepfather of Trump's daughter Ivanka. Another donor, Tom Barrack, who oversaw fundraising for Trump's first inauguration, is his choice for ambassador to Türkiye.

And the new special envoy to the Middle East, real estate mogul Steve Witkoff, is a longtime friend of Trump's and a partner in the cryptocurrency business that Trump launched with his sons earlier this year.

He donated $250,000 to a pro-Trump super PAC.

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