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Donald Trump’s political support — especially in his 2024 run, his super PACs (like MAGA Inc.), and ongoing fundraising and policy initiatives — comes from a wide range of industries and wealthy individuals, not just tech. Here’s a clearer breakdown of the major industries and people backing him (beyond individual tech donors): (Financial Times). As you make purchases or investments in your daily lives please keep in mind who helped Trump.
The oil and gas sector has been one of Trump’s most financially supportive industries, seeing significant policy wins in return — from tax incentives to regulatory rollbacks. (Brennan Center for Justice)
Major contributions to Trump-aligned PACs and inauguration funds have come from large fossil fuel firms. (Brennan Center for Justice)
The industry also spent extensively in the 2024 cycle to support Republican candidates and influence policy. (The Guardian)
Why they back Trump:
They generally favor lower regulation on drilling and emissions and benefit from Trump’s moves to expand fossil fuel production.
Wall Street executives and financial firms have been included in high-profile White House events and fundraising efforts. (CBS News)
Leaders from major banks and investment firms (e.g., BlackRock, Goldman Sachs, JPMorgan Chase) have appeared at Trump’s private dinners and contributed through institutional giving. (CBS News)
These financial players often support Republican candidates for perceived economic policy advantages.
Why they back Trump:
Expectations of tax policy stability, deregulation, and corporate-friendly legislation.
A broad coalition of large U.S. corporations have backed Trump in different ways, including inauguration donations and private fundraising: (Financial Times)
Airlines: United, Delta
Automotive: General Motors, Toyota
Pharmaceuticals: Merck, Pfizer
Telecom/Media: AT&T, Verizon, Comcast
Retail & Consumer Goods: McDonald’s, FedEx
Defense/Industrial: Lockheed Martin, other contractors
Tech/Telecom: Amazon, Apple, Google, Meta, Microsoft (for various reasons including contracts or policy access) (Financial Times)
These contributions have often been channeled through large fundraising vehicles rather than direct presidential campaign donations, but they signal corporate willingness to align with Trump’s political and economic agenda. (Financial Times)
Many wealthy individuals — across industries — have supported Trump’s campaigns and super PACs:
Miriam Adelson – casino and gaming heir and major GOP megadonor
Stephen Schwarzman – private equity leader
Harold Hamm – energy executive
Ken Griffin – hedge fund founder
Jerry Jones – sports franchise owner
These donors often give $1 million+ and account for a substantial portion of large-scale political financing. (Forbes)
The cryptocurrency sector has emerged as another source of support: (Politico)
Firms like Coinbase, Ripple, Tether, and individual crypto entrepreneurs (e.g., the Winklevoss twins) have participated in fundraising efforts tied to Trump. (Politico)
Why they back Trump:
Expectations for lighter crypto regulation and favorable tax/treatment compared with other administrations.
Some healthcare business leaders — especially from medical supply firms — have recently made large contributions to pro-Trump PACs, even if they hadn’t previously been major political donors. (Market Realist)
These contributions are often strategically linked to specific regulatory or reimbursement policies affecting their businesses.
Companies tied to infrastructure and construction — especially those with interests in government contracts (e.g., border wall suppliers or logistics firms) — have historically supported Trump and GOP candidates as well. (Examples extend beyond recent cycles, though support has continued.) (Wikipedia)
Support generally reflects a mix of strategic interests:
Regulatory priorities — less oversight or more industry-friendly rules
Tax policy — lower corporate and capital gains taxes
Government contracts — defense, infrastructure, and tech services
Access to influence — through private events, consulting roles, or policy input
Critics argue that this creates a pay-to-play dynamic where major contributors receive disproportionate policy attention. (Campaign Legal Center)
Major industries and people backing Trump include:
Fossil fuel & energy companies (strong donors tied to policy shifts) (Brennan Center for Justice)
Finance and Wall Street executives (banking and investment institutions) (CBS News)
Large corporations across multiple sectors (airlines, pharma, automotive, defense, telecom) (Financial Times)
Billionaire individual donors (casino, finance, and energy magnates) (Forbes)
Crypto and new finance backers (blockchain and exchange founders) (Politico)
Healthcare and medical business leaders (emerging big donors) (Market Realist)