How Wall Street and Hollywood Boosted Kamala Harris’ Fundraising Ahead of Election

Donors from Wall Street, Silicon Valley, and Hollywood played a key role in helping Vice President Kamala Harris' fundraising efforts in August, giving Democrats a financial advantage over Donald Trump on the cusp of the run-off election.

According to a Fortune report, Harris raised $361 million in August, bringing the Democratic Party’s total to $404 million. In contrast, the Trump campaign raised $130 million, but spent $32 million more than it raised, largely due to an aggressive ad campaign.

Despite the close results in the polls, Harris leads in terms of financial resources. Her fundraising included high-profile events in San Francisco and the Hamptons, taking advantage of California’s rich donor base.

Key donors to Harris include Bruce Karsh of Oaktree Capital, Robert Stavis of Bessemer Venture Partners and Ripple Labs co-founder Christian Larsen, who donated $1 million in the form of the cryptocurrency XRP. Hollywood personalities like Scarlett Johansson and Frances McDormand have also made donations.

On the other hand, support for Trump is growing in the crypto sector, with Elon Musk donating $289,100 to the National Republican Congressional Committee. Other notable donors include hedge fund manager Paul Singer, Mark Andreessen and casino moguls Frank and Lorenzo Fertitta.