Billionaire philanthropist Bill Gates has recently donated around $50 million to the nonprofit arm of a super PAC supporting Kamala Harris, as reported by the New York Times. This marks a departure from Gates’ usual stance of emphasizing bipartisanship and steering clear of large political donations. He is not the only billionaire to make such contributions, with Forbes identifying 13 other billionaires who have donated to the same super PAC, Future Forward. These donations come as Harris announced her candidacy, with five billionaires contributing since then, including Facebook cofounder Dustin Moskovitz, Netflix cofounder Reed Hastings, and blockchain billionaire Chris Larsen.
The donations made by these billionaires to Future Forward are public as they were given directly to the PAC, which has been promoting Democratic candidates primarily through advertising since 2018. Gates’ donation, on the other hand, was routed through the PAC’s “dark money” affiliate, allowing him to keep his donation discreet. Other billionaires may have also used this method to contribute, with the dark money arm channeling over $50 million to the super PAC out of the $200 million in contributions it had collected by the end of August. Notably, Forbes reports that Gates’ donation is not yet reflected in public filings.
Many of the billionaire donors to Future Forward PAC have been vocal in their support for Harris, with Hastings, Moskovitz, and Larsen making significant contributions. Their donations have ranged from $1 million to $10 million, with Moskovitz even creating memes in support of Harris. Future Forward differs from traditional super PACs by focusing on data analysis and using voter surveys to create and air political ads. However, some critics argue that there is too much funding behind one group with a singular belief in late-campaign ads, rather than investing in on-the-ground efforts to mobilize voters.
The analytical approach of Future Forward seems to align with the philanthropic philosophies of some billionaires who have donated to the PAC. Hastings, Schmidt, and Hoffman, for example, have also contributed to other pro-Harris committees, emphasizing the importance of political giving alongside philanthropy. Hoffman believes that political donations can have a significant impact on social issues, depending on who is governing. This sentiment is shared by several other billionaires, who have made substantial contributions to Harris’ campaign and other pro-Harris committees.
Overall, the list of billionaires who have donated to Future Forward this election cycle includes prominent names such as Michael Bloomberg, Reid Hoffman, and Jim and Marilyn Simons, among others. These donations are part of a larger trend of billionaire contributions to Democratic causes, reflecting a growing focus on leveraging wealth for political influence. As the 2024 election approaches, these donations are expected to continue shaping the political landscape, potentially influencing the outcome of the race.
