No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Saturday, November 15, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

This mysterious billionaire and top Trump backer is behind a $130 million donation to pay troops during the government shutdown, report says

by TheAdviserMagazine
3 weeks ago
in Business
Reading Time: 3 mins read
A A
This mysterious billionaire and top Trump backer is behind a 0 million donation to pay troops during the government shutdown, report says
Share on FacebookShare on TwitterShare on LInkedIn



The mystery donor who offered $130 million to pay troops during the government shutdown is Timothy Mellon, sources told The New York Times on Saturday.

The extremely private billionaire is a top Republican backer and contributed $125 million to the Make America Great Again super PAC that supported Donald Trump during his presidential bid last year.

Trump announced the anonymous donation on Thursday, declining to name the benefactor, only saying that the individual was a “patriot” and a friend.

When asked about Mellon on Friday, Trump declined to identify him as the donor while speaking to reporters. He said the individual was “a great American citizen” and a “substantial man.”

“He doesn’t want publicity,” Trump said, according to The Times. “He prefer that his name not be mentioned which is pretty unusual in the world I come from, and in the world of politics, you want your name mentioned.”

The Pentagon told The Times it accepted the donation under the “general gift acceptance authority.”

But the donation may be in violation of the Antideficiency Act, which prevents federal agencies from spending more money than Congress allows or from using unpaid help that Congress hasn’t approved.

The Mellon family foundation did not respond to Fortune’s request for comment, and attempts by the Times to reach Mellon were unsuccessful.

Mellon’s fortune

Mellon founded the now-defunct railroad company Guilford Transportation Industries in 1981, but much of his wealth is from his grandfather, Andrew, who was Treasury secretary from 1921 to 1932. During this time, Andrew successfully campaigned to remove estate taxes so he could leave his fortune to his heirs. 

Prior to working for the Treasury, Andrew accumulated his wealth in banking, industrials and investing in the early stages of companies.

The Mellon family was named one of America’s richest families by Forbes last year and has a combined net worth of just over $14 billion.

Although Timothy Mellon’s share of this wealth isn’t well understood, he said his net worth was about $700 million in 2014. The London Times estimated it to be about $1 billion last year, and a relative told Vanity Fair  it was closer to $4.2 billion, adding that Mellon didn’t want people to know his true net worth.

Between 1996 and 2018, Mellon donated about $350,000 to political causes, according to the Wall Street Journal. But during the 2020 election, his political spending exploded, donating $60 million to Republican candidates, including $20 million to Trump. 

In the 2024 cycle, Mellon donated a total of $165 million, according to campaign finance tracker OpenSecrets. This included $25 million to the political action committee American Values 2024 that supported Robert F. Kennedy Jr.’s presidential campaign.

In Mellon’s self-published autobiography panam.captain from 2015, Kennedy is quoted as saying, “Tim Mellon is a maverick entrepreneur who embodies the most admirable qualities of what FDR called ‘American Industrial genius.’”

Government shutdown

Mellon’s donation comes as Trump has promised to pay military service members, immigration agents and law enforcement officials despite not having approval by lawmakers for money for their wages.

He signed an executive order this month ordering the Pentagon to use portions of research and development funds to cover troops’ salaries.

About 670,000 workers have been furloughed, according to the Bipartisan Policy Center, a Washington-based think tank. And about 730,000 are working without pay.

As the shutdown drags on for its third week, thousands of federal workers have also experienced missing their first paycheck this week.



Source link

Tags: backerBillionaireDonationgovernmentMillionMysteriousPayReportshutdownTopTroopsTrump
ShareTweetShare
Previous Post

Trump hits Canada with an extra 10% duty because anti-tariff ad didn’t come down immediately

Next Post

One more regional airline files for Chapter 11 bankruptcy

Related Posts

edit post
Make America Grate Again: Trump vs MTG in epic MAGA maelstrom after she tries to maim H-1B visas

Make America Grate Again: Trump vs MTG in epic MAGA maelstrom after she tries to maim H-1B visas

by TheAdviserMagazine
November 15, 2025
0

WASHINGTON: MAGA supremo Donald Trump on Friday unloaded on a one-time loyalist lawmaker after she broke ranks and mutinied on...

edit post
Trump is sounding ‘weirdly, eerily similar’ to Biden by trying to play down inflation, economist says

Trump is sounding ‘weirdly, eerily similar’ to Biden by trying to play down inflation, economist says

by TheAdviserMagazine
November 15, 2025
0

Just like the president who came before him, Trump is trying to sell the country on his plans to create...

edit post
Vanguard reveals what could be coming for US stocks. Here’s why it’s raising alarm bells for retirees

Vanguard reveals what could be coming for US stocks. Here’s why it’s raising alarm bells for retirees

by TheAdviserMagazine
November 15, 2025
0

seventyfourimages/Envato Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Vanguard pioneered the...

edit post
Rich Dad Poor Dad author Robert Kiyosaki says Bitcoin slump won’t sway him, bets on “The Big Print” boosting gold, silver, crypto

Rich Dad Poor Dad author Robert Kiyosaki says Bitcoin slump won’t sway him, bets on “The Big Print” boosting gold, silver, crypto

by TheAdviserMagazine
November 15, 2025
0

Renowned author of Rich Dad Poor Dad, Robert Kiyosaki, has weighed in on the recent volatility across global markets, including...

edit post
Meet the 73-year-old who splits his time between Panama and the U.S.: ‘0 is my cost of living, plus food’

Meet the 73-year-old who splits his time between Panama and the U.S.: ‘$500 is my cost of living, plus food’

by TheAdviserMagazine
November 15, 2025
0

With so many Americans burnt out from U.S. hustle culture and high living costs, expats are finding that Panama is...

edit post
F&O Talk | Nifty rebounds 700 pts from key support; path opens for 26,200–26,500 targets: Sudeep Shah

F&O Talk | Nifty rebounds 700 pts from key support; path opens for 26,200–26,500 targets: Sudeep Shah

by TheAdviserMagazine
November 15, 2025
0

Markets delivered a solid rebound this week, finishing decisively in the green after a brief period of weakness. Optimism was...

Next Post
edit post
One more regional airline files for Chapter 11 bankruptcy

One more regional airline files for Chapter 11 bankruptcy

edit post
Trump adds 10% tariff on Canada due to TV ad, but IEEPA doesn’t allow its use against ‘information’

Trump adds 10% tariff on Canada due to TV ad, but IEEPA doesn't allow its use against 'information'

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
7 States That Are Quietly Taxing the Middle Class Into Extinction

7 States That Are Quietly Taxing the Middle Class Into Extinction

November 8, 2025
edit post
Another Violent Outburst – Democrats Inciting Civil Unrest

Another Violent Outburst – Democrats Inciting Civil Unrest

October 24, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
Data centers in Nvidia’s hometown stand empty awaiting power

Data centers in Nvidia’s hometown stand empty awaiting power

November 10, 2025
edit post
8 States Offering Special Cash Rebates for Residents Over 65

8 States Offering Special Cash Rebates for Residents Over 65

November 9, 2025
edit post
Government Shutdown Ends, But Seniors Still Feel the Ripple Effects

Government Shutdown Ends, But Seniors Still Feel the Ripple Effects

0
edit post
Berkshire Hathaway’s surprising new tech stake

Berkshire Hathaway’s surprising new tech stake

0
edit post
Make America Grate Again: Trump vs MTG in epic MAGA maelstrom after she tries to maim H-1B visas

Make America Grate Again: Trump vs MTG in epic MAGA maelstrom after she tries to maim H-1B visas

0
edit post
Trump is sounding ‘weirdly, eerily similar’ to Biden by trying to play down inflation, economist says

Trump is sounding ‘weirdly, eerily similar’ to Biden by trying to play down inflation, economist says

0
edit post
‘Dawson’s Creek’ Star James Van Der Beek Is Selling Memorabilia ‘to Help With the Financial Cost of Fighting Cancer,’ Highlighting Medical Care Expenses

‘Dawson’s Creek’ Star James Van Der Beek Is Selling Memorabilia ‘to Help With the Financial Cost of Fighting Cancer,’ Highlighting Medical Care Expenses

0
edit post
El Al again reports record profits

El Al again reports record profits

0
edit post
Make America Grate Again: Trump vs MTG in epic MAGA maelstrom after she tries to maim H-1B visas

Make America Grate Again: Trump vs MTG in epic MAGA maelstrom after she tries to maim H-1B visas

November 15, 2025
edit post
Trump is sounding ‘weirdly, eerily similar’ to Biden by trying to play down inflation, economist says

Trump is sounding ‘weirdly, eerily similar’ to Biden by trying to play down inflation, economist says

November 15, 2025
edit post
Berkshire Hathaway’s surprising new tech stake

Berkshire Hathaway’s surprising new tech stake

November 15, 2025
edit post
The Corporate Loophole That Siphons Away Your 401(k) Gains

The Corporate Loophole That Siphons Away Your 401(k) Gains

November 15, 2025
edit post
Government Shutdown Ends, But Seniors Still Feel the Ripple Effects

Government Shutdown Ends, But Seniors Still Feel the Ripple Effects

November 15, 2025
edit post
Vanguard reveals what could be coming for US stocks. Here’s why it’s raising alarm bells for retirees

Vanguard reveals what could be coming for US stocks. Here’s why it’s raising alarm bells for retirees

November 15, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Make America Grate Again: Trump vs MTG in epic MAGA maelstrom after she tries to maim H-1B visas
  • Trump is sounding ‘weirdly, eerily similar’ to Biden by trying to play down inflation, economist says
  • Berkshire Hathaway’s surprising new tech stake
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.