A wave of support for Donald Trump’s presidential bid is emerging from the heart of Silicon Valley. America PAC, a new super ‘political action committee’ (PAC) backing Trump’s campaign, has secured substantial donations from prominent figures in the US technology and business sectors.
Among the notable contributors are Palantir co-founder Joe Lonsdale, venture capital pioneer Doug Leone, and the Winklevoss twins. According to public filings, America PAC has garnered over $8.7 million since its launch in June, including multiple $1 million donations from Silicon Valley investors who have publicly voiced their support for Trump, as reported by the Financial Times.
Elon Musk has pledged a significant contribution of $45 million per month to the PAC, further bolstering Trump’s fundraising efforts. Other prominent donors include Sequoia partner Shaun Maguire, Valor Equity Partners founder Antonio Gracias, and hedge fund billionaire Bill Ackman, as reported by Bloomberg.
Trump’s running mate, Senator JD Vance, has deep ties to the tech industry and has received support from prominent venture capitalists. This shift in political allegiance from some Silicon Valley leaders stems from their dissatisfaction with President Joe Biden’s policies, particularly on issues like regulation and taxes. They are drawn to Trump’s promises to protect free speech and support the cryptocurrency industry.
The donations received by Trump demonstrate the growing support he’s garnering from major donors in the technology and financial sectors. This trend started after his conviction on felony charges related to hush-money payments in May 2023. Joe Biden’s performance in a June 27 debate with Trump led to internal conflicts within the Democratic Party, further boosting support for Trump.
America PAC is primarily operating behind the scenes to strengthen the Trump campaign’s ground efforts. It is the largest external organization supporting Trump, with a significant focus on direct voter contact. According to federal records, America PAC has spent $15.8 million so far, with $13.1 million allocated to field operations. The PAC has also funded digital media, texting, and phone calls to reach voters. The group focuses on door-to-door persuasion and get-out-the-vote efforts. A recent FEC ruling allows super PACs to coordinate with campaigns on voter outreach.
While Silicon Valley has traditionally been a stronghold of liberalism in the US, a growing number of tech leaders are shifting their political views to the right, expressing their dissatisfaction with President Joe Biden’s positions on regulation and taxes. This shift in political alignment is contributing to the growing financial support for Trump’s campaign.
