David Ellison, the son of Republican megadonor Larry Ellison, donated $929,600 to support President Joe Biden’s re-election efforts, making him one of the incumbent Democrat’s top donors in recent memory.
According to Federal Election Commission records, David Ellison’s donation is the largest recorded donation the Skydance Media CEO has ever made to a federal candidate.
His February contribution to the Biden Victory Fund is tied to other major contributors in the first quarter of 2024.
Others who donated the same amount as David Ellison this quarter include attorney George Conway, a leading critic of former President Donald Trump, and Facebook Co-founder Dustin Moskovitz.
David Ellison’s donation comes as his father, Larry Ellison, the chairman of Oracle, has kept his wallet tightly closed this election cycle.
Records show that Larry Ellison, who has been a major Republican donor in the past, has not made a single federal political donation so far in 2024. According to OpenSecrets, Ellison donated more than $31 million to GOP candidates during the 2022 congressional midterm elections.
Charles Myers, the former vice chairman of investment bank Evercore and a Biden campaign bundler, said David Ellison’s donation in support of Biden was a “very big deal,” citing the donor’s family ties.
“It’s as impactful as if one of Soros’ sons started writing huge checks to Trump,” Myers told CNBC, referring to Democratic megadonor George Soros.
Biden’s allies have been pressing in court to recruit David Ellison as the president’s political team tries to build a campaign coffers large enough to effectively combat presumptive Republican nominee Trump in the presidential election.
The attempt to win David Ellison’s support – and his large donation – was largely orchestrated by Hollywood mogul Jeffrey Katzenberg, according to a person with direct knowledge of the matter who was granted anonymity to discuss private matters.
Katzenberg is co-chair of Biden’s campaign and his efforts to recruit David Ellison as a supporter included arranging a meeting with Biden, the source said.
According to the source, David Ellison attended a private panel in Los Angeles in December that included Biden and fewer than a dozen other attendees, including wealthy donors. This event was held at the home of Kurt Rappaport, a real estate investor and Biden donor.
Rappaport told CNBC that he invited a “small group of friends” to his home to attend the event and that those in attendance were “not necessarily” major Biden financiers, but declined to comment further away.
Larry Ellison, founder and former CEO of Oracle Inc., watches from a motorboat a training race ahead of the America’s Cup World Series sailing competition on the Great Sound in Hamilton, Bermuda, October 16, 2015.
Fresh Mike | Reuters
David Ellison donated to the Biden Victory Fund after the event at the Rappaport home.
The Biden Victory Fund funds the Biden campaign, the Democratic National Committee and dozens of state parties, according to Federal Election Commission records. According to FEC records, Rappaport donated $929,600 to that fund last July.
David Ellison’s donation helped the Biden Victory Fund raise more than $121 million in the first quarter of 2024. A similar Trump-supporting organization, called Trump Save America, raised more than $65 million this quarter, FEC records show.
Biden is just one percentage point behind Trump in the latest New York Times-Siena College opinion poll.
Larry Ellison supported Sen. Tim Scott, R-S.C., in his run for president but did not participate in his campaign. He is now reportedly trying to sell Scott to Trump’s team as the former president’s vice president.
While the Ellisons may be on opposite sides in the 2024 election, the two are working together on a major media deal.
David Ellison’s Skydance Media recently made a bid to acquire National Amusements and merge with Paramount Pictures. According to a CNBC report citing sources, Larry Ellison, who has a net worth of more than $149 billion, plans to help finance the proposed deal.
A spokesman for David Ellison declined to comment. Katzenberg and the Biden campaign did not respond to requests for comment.
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2024-04-17 20:04:48
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