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Today we look at the billionaires who donate a lot to Trump and the billionaires who surprisingly donate nothing.
Meet the real estate billionaire who hates affordable housing and loves Trump and the Republican Party
“GEoffrey Palmer made his multi-billion dollar fortune building luxury homes in Southern California. To keep rents high and taxes low, he has spent nearly $32 million over the past six years opposing ballot initiatives and supporting Republicans, especially Donald Trump,” said Giacomo Tonini. is reporting.
Palmer has been called the “worst developer” in Los Angeles and the “villain” of real estate. He prefers to call himself a “true visionary”. One of his indisputable titles is Millionaire. Since completing his first apartment complex in Santa Clarita in 1985, the 72-year-old Palmer has built a portfolio of nearly 13,000 apartments throughout Southern California. Its portfolio includes a gorgeous Italian-inspired “fortress” in downtown LA. L.A. rents have risen 17% from pre-pandemic levels, and since 2010 he has risen more than 75%.
He has amassed these wealth by developing properties in historically low-income neighborhoods and setting up luxury apartments that cost more than local residents. I fought without hesitation. He does it ruthlessly, boasting about being in the real estate business to avoid taxes, and most recently, he spent the last six years throwing his $31.5 million into ballot measures and politicians (especially We did it by spending on Donald Trump.
Billionaire Jeffrey Palmer has many critics. Among them was a renter like the one pictured here at a protest in Los Angeles in July 2020, when they and his supporters demanded he cancel his rent.
Frederick J. Brown/AFP/Getty Images
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in case you missed
Hundreds of Billionaires Donate Hefty in Midterm Elections, but Trump Donates Nothing
“HHundreds of billionaires have put their money into the 2022 midterm elections. George Soros put $129 million into a left-leaning super PAC. Conservatives Dick and Elizabeth Urain and Ken Griffin each matched with about $55 million. Peter Thiel hand-picked several Senate candidates, and for each he seeded $15 million,” reports Matt Durot.
Donald Trump, by contrast, doesn’t seem to donate anything. Yes, the former president routed money to his followers – and gained a reputation as a kingmaker for doing so. is not money. Instead, it’s money other people have donated to Trump-related groups. Trump then takes those funds and passes some of them on to his allies, soaking up the attention that such generosity gives him.
Consider the $15 million recently spent to help Republicans run for Senate in Pennsylvania, Nevada, Arizona, Ohio and Georgia. After the 2020 election, Trump raised more than $100 million from supporters across the country. To do so, he started a group named Save America. This qualifies as a leadership PAC, the kind of entity politicians often use to share cash with other candidates. Trump kept most of the money for himself, but a month ago his group transferred his $20 million to another organization called Make America Great Again, Inc. The organization then bought his $2 million to $4 million adverts to support candidates in these five states. Then Trump patted himself on the back.
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Photo by Jamel Toppin/Forbes Collection
Should Americans care that the Saudi Prince is now one of Twitter’s largest shareholders?
tracking playing cards
forbes We will keep you updated on “Following Trump: A Summary of All Lawsuits and Investigations Involving the Former President.”
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forbes
“Donald Trump will begin his second term as president at a rally in Ohio late Monday, despite speculation that his quest to return to the White House may begin on the eve of Tuesday’s midterm elections. But he said, “We have a big announcement very next week,” reports Joe Walsh.
- “‘Self-incrimination’: Legal experts warn Trump’s admission at rally could be ‘admissible evidence'” (Saron)
- “While building Truth Social, Trump spoke with rivals about competing partnerships” (CNBC)
Editor’s Pick
- “Old Money: Campaign Finance and Gerontocracy in the United States” (Adam Bonica, Stanford University and Jacob M. Grumbach, University of Washington)
- “U.S. law enforcement agency launches online database of judges’ financial disclosures” (Reuters)
- “Twitter owner Musk supports Republicans on the eve of US midterm elections” (Reuters)
- “Ronald Lauder: New York’s Billionaire Political Turmoil” (New York Times)
- “Fortune talks to Joe Manchin about the potential for bipartisanship and his message to CEOs: ‘Stop writing checks to everyone'” (Fortune)
- “Seventy-five members of Congress violated laws designed to prevent insider trading and thwart conflicts of interest,” (Insider)
- “The man behind the mystery company called Tomfoolery LLC, which made a $75,000 super PAC donation to help Texas Democrats in 2020, is a campaign legal critic,” citing Issue One Reform’s “Mystery Money” report. After complaining, I agreed to pay a fine of $25,000.”Twitter/#1 Michael Becker)
- “Kari Lake-linked tech firm campaigns to cause financial havoc” (The Daily Beast)
- “Former U.S. military pilot convicted of acting as a paid agent for China and lying on national security background forms” (DoJ)
- “Is Gmail Silencing Republicans?” (The Atlantic)
At the end
“Election day when I wake up
Empty gunpowder and shades of gray
under the dirty sun
i whistle the time
then just after sunset
you walk down the street
Boot heels click
Spinning pistol barrel
darling don’t worry
We live in the future and nothing has happened yet. ”
— Bruce Springsteen, “Livin’ in the Future”
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