After the small purses, the big fish? In the American electoral system, where the money make a difference, o Donald Trump recently received the welcome support of many millionaires.

The Republican presidential candidate’s ability to raise donations from middle-class households has never been in doubt: the more than $53 million he raised in the 24 hours after his conviction last week came mostly from from small donors.

However, the big donors — who had distanced themselves from Trump after the chaos that followed the 2020 election and his supporters invaded Capitol Hill — are now backing him financially again.

The billionaire Nelson Peltz on January 21 he said he regretted supporting Trump. “It’s a shame, as an American it bothers me,” said the head of the investment fund Trian Partners.

Nevertheless, Peltz welcomed Trump to his home in Florida in early March for breakfast in the presence of other millionaires, such as Elon Musk, according to the Washington Post.

In an interview with the Financial Times, he said he would “probably” vote for Trump, but maintained some reservations. The reason: the explosion in the number of immigrants illegally crossing the US-Mexico border and Joe Biden’s mental state, which “really scares me.”

THE Steve Schwartzman he is also one of the millionaires who criticized the January 6 invasion, calling it “an attempt by a gang to undermine our Constitution”.

On May 24, the chairman and CEO of Blackstone – one of the most important investment funds in the world – announced that he will again support Trump in the presidential elections.

Schwartzman, whose personal fortune is estimated at more than $37 billion according to Forbes — also cited immigration as a key reason for his decision.

Another billionaire who supports Trump is Miriam Adelson. A big supporter of Israel, the widow of casino magnate Sheldon Adelson plans to spend more than $90 million on Trump’s campaign, an amount she donated in 2020 to Republicans, according to Politico.

A relationship of interest

With the U.S. stock market at an all-time high and the nation’s economy growing despite persistent inflation, why did these millionaires decide to support a candidate who was found guilty in a criminal trial and is seen by many as a source of instability?

According to economist Paul Krugman, these elites are more interested in their personal interests rather than the state of America.

Joe Biden has said that – if he is re-elected in November and gains a majority in Congress – he will impose a tax on large fortunes.

Well, if Trump is elected, “the rich will almost certainly pay less taxes and companies will be subject to fewer rulesKrugman wrote in April in the New York Times.

In general, Silicon Valley – the epicenter of the technology sector – seems to support Biden, while Wall Street and the big oil companies support Trump.

Mining everywhere

At the same time, the declared will of the Biden administration to deal with climate change also provokes the reaction of the oil industry.

“Trump’s mantra – declaring ‘we’re going to mine left and right’ – suits him better oil sector than the Biden approach to green energy,” Dan Eberhart, the head of a major mining company, recently commented in the Washington Post.

Biden’s campaign team regularly attacks his Republican opponent and his ties to the wealthy. Last week she even accused him of “selling America to its biggest donors”.

However, Biden is also not shy about accepting donations from millionaires, such as tech entrepreneur Vinod Khosla, who recently hosted a reception in honor of the US president.