Bill Gates, the co-founder of Microsoft Corp, has reportedly made a substantial donation to a non-profit organization supporting Vice President Kamala Harris‘ presidential campaign.
What Happened: Gates, who has traditionally refrained from political donations, privately pledged around $50 million to Future Forward, a non-profit backing Harris’ presidential bid, reported The New York Times, citing three people briefed on the matter.
This significant shift in Gates’ political strategy is attributed to his concerns about the potential impact of a second term for former President Donald Trump, according to the report.
Gates, who has not publicly endorsed Harris, expressed his willingness to work with either candidate. His decision is influenced by the Biden-Harris administration’s efforts to combat climate change, a cause close to his philanthropic organization, the Bill & Melinda Gates Foundation.
The billionaire’s donation to Future Forward’s non-profit arm, a “dark money” organization, is a discreet move that will not be disclosed in public filings. In a statement, Gates emphasized the exceptional significance of this election and his support for candidates committed to healthcare, poverty reduction, and climate change.
“I have a long history of working with leaders across the political spectrum, but this election is different, with unprecedented significance for Americans and the most vulnerable people around the world,” Gates said in response to the report of donation to Harris’ presidential campaign.
Bill & Melinda Gates Foundation did not immediately respond to Benzinga‘s request for comment.
Why It Matters: Gates’ unexpected foray into political donations follows a similar move by his ex-wife, Melinda French Gates, who revealed substantial contributions to Harris and her running mate, Tim Walz (D-Minn.) campaign in September.
Earlier in October, Tesla Inc. CEO Elon Musk suggested that billionaires supporting Harris are nervous about a potential Trump win due to the threat of a public release of the Epstein client list.
Moreover, the political race remains tight, with Harris holding a slim lead over Trump in election polls, despite losing momentum in key demographics.
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Image via Wikimedia Commons
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
