Left-wing billionaire donors, whom the Democrat Party relies on, are promising to bankroll Vice President Kamala Harris’s run for the presidency after President Joe Biden announced over the weekend that he would drop out of the race.
Like Biden, several billionaire donors have endorsed Harris — ensuring she has the support of the Democrat Party’s wealthiest backers, including George Soros and his son Alex Soros, the New York Times detailed:
Gretchen Sisson, a top Democratic bundler in California and a supporter of Ms. Harris, said the announcement was met with enthusiasm in her circles, and that she was collecting pledges that she could collect on later in the week. “My phone is exploding,” she said. “Lots of folks are asking where to contribute, what they can do to support the campaign, and wanting to write more. People who were committed but worried are now excited and energized.” [Emphasis added]
The endorsements came in hard and fast on Sunday afternoon from the Democratic Party’s billionaire class, the type of people who can write a seven- or eight-figure check to an outside pro-Harris group. Reid Hoffman, the Democratic mega-donor who was among Mr. Biden’s strongest supporters over the last few weeks amid the chaos, endorsed Ms. Harris for the presidency. Another major billionaire backer of Mr. Biden, Alex Soros, the heir to the famous Democratic philanthropist family, said he was backing her as well. [Emphasis added]
The nods also came from Democratic groups that steer big donors in their giving. Emily’s List, a big-money Democratic group that boosts women who support abortion rights and backed Ms. Harris during her vice presidency, offered an immediate endorsement. Way to Win, a major Democratic donor group with many members who are partial to Ms. Harris, also said that they were backing her. [Emphasis added]
As the Times mentioned, Reid Hoffman is among the biggest billionaire backers of Harris. In May 2023, Hoffman admitted to visiting convicted sex offender Jeffrey Epstein’s private island, named “Little Saint James” but more commonly referred to as “Pedophile Island.”
In the 2020 campaign, Hoffman spent $7 million, alone, on boosting pro-Biden political action committees (PACs) and on ads opposing then-President Donald Trump. Between Hoffman and his wife, Michelle Yee, the pair donated close to half a million dollars to Biden’s campaign and two joint-fundraising committees supporting Biden.
Similarly, NBC News reports that billionaire donors are opening their pocketbooks for Harris, whom they consider a reliable contact inside the White House:
And that isn’t all. Much more is expected to flow in and is already being pledged by large-dollar donors, too. [Emphasis added]
“The floodgates will open,” Chris Korge, finance chair for the Biden Victory Fund, told NBC News. “There’s been a lot of people holding back contributions that will now contribute because the whole thing — that whole situation was paralyzing our fundraising.” [Emphasis added]
Korge said he was getting calls all day from major donors who were moved by Biden’s decision. Some even cried, he said. [Emphasis added]
Harris has long been a favorite of the wealthy on the nation’s coasts.
In 2019, while running her failed campaign for president in the Democrat primary, Harris was nearly exclusively funded by California residents and specifically those working for major law firms, multinational corporations, and Silicon Valley tech conglomerates.
For instance, billionaire Gordon Getty of the Getty Oil dynasty held fundraisers for Harris at his mansion in San Fransisco, California, with Gov. Gavin Newsom (D-CA). Harris also raked in huge sums of cash from big pharmaceutical giants as well as Wall Street power brokers.
John Binder is a reporter for Breitbart News. Email him at
