7 Billionaires That Have Thrown Big Backing Behind Biden's Presidency

With the November elections looming closer than ever, some billionaires have thrown their hats into the ring, otherwise known as politics, and put their support behind Joe Biden. Here are seven billionaires who are backing Biden for reelection. 

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Forbes has conducted its own "investigation" into the billionaire backers of presidential candidates Donald Trump and Biden during the 2020 elections. According to Forbes research, Biden managed to get 230 donors with a total of $691.8 million, whereas Trump had 133 donors, totaling $495.7 million. Both presidential hopefuls had some big billionaire backers, but one candidate received the largest donation, and it was from himself. Michael Bloomberg, founder of Bloomberg L.P. and former mayor of New York City, had a brief stint running for president in 2020. Bloomberg donated an eye-watering $1.2 billion of his own money to his campaign. However, he later transferred $18 million from his campaign to the Democratic Party, hence his name on the list. 

This year, Bloomberg is backing Biden again with a whopping $20 million contribution. Reuters reported that Bloomberg donated $19 million to a pro-Biden group known as Future Forward and then over $900,000 to the Biden Victory Fund. Bloomberg told the Washington Post, "I stood with Joe Biden in 2020, and I am proud to do so again." Biden even awarded the former mayor and supporter of his campaign the Presidential Medal of Freedom in May this year. 

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But Bloomberg wasn't Biden's biggest donor in 2020. That title belongs to Tom Steyer and Kat Taylor of the Tom Steyer and Kat Taylor Foundation, which focuses on climate stability. The billionaire climate activists donated a total of $1.1 million to Biden. Biden has been known to spend his vacations with the billionaire couple. 

Other billionaires backing Biden include Jim and Marilyn Simons. Hedge fund manager and mathematician Jim Simons and his wife, Marilyn, were big supporters of Biden during the 2020 election. Together, they founded the Simons Foundation, which focuses on advancing research in science and mathematics. In 2020, he and his wife donated $1.1 million to Biden, and this year, before Jim passed away in May, he made a $6.6 million donation to Biden's PAC. 

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The next billionaires to back Biden were Dustin Moskovitz and Cari Tuna, who cofounded Facebook and donated $820,600 to Biden's campaign. Tuna, married to Moskovitz, cofounded Open Philanthropy with her husband and is a philanthropic funder. Stephen and Susan Mandel, hedge fund billionaires, also backed Biden in the 2020 elections. According to Forbes, the couple donated $721,200 to Biden's campaign. The couple continues supporting Biden as he runs for reelection, with Biden hosting a fundraising dinner last year at the couple's home in Greenwich. At the dinner, Stephen Mandel told guests, "As Americans, we all owe a big thanks to the president for what he’s done for the last two years." 

Next on the list are Henry and Marsha Laufer, hedge fund billionaires and staunch supporters of Biden during the 2020 elections. Together, the couple donated an impressive $14.9 million in total to pro-Biden PACs and $946,200 directly to Biden's campaign. The seventh billionaire backing Biden is Haim and Cheryl Saban. The Sabans founded the Saban Foundation and donated $1.5 million to Biden's campaign. Haim continues supporting Biden and recently made headlines for defending Biden's age. He told The Wrap, "I think he is doing really, in my opinion, a great job. His leadership, his statesmanship, the way he's defending democracy, growing our economy, fighting for liberty."                   

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