No Result
View All Result
  • Login
Saturday, March 21, 2026
FeeOnlyNews.com
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
No Result
View All Result
FeeOnlyNews.com
No Result
View All Result
Home Business

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

by FeeOnlyNews.com
5 months ago
in Business
Reading Time: 3 mins read
A A
0
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

A Dave Ramsey Caller Asked If Buying A Classic Muscle Car Beats Buying A Home. Here’s The Rare Case Where That Decision Might Pay Off

Related Posts

Rupee on shaky ground, touches fresh low of 93.73

Rupee on shaky ground, touches fresh low of 93.73

by FeeOnlyNews.com
March 21, 2026
0

The Indian rupee plunged as much as 110 paise on Friday, recording its steepest single-day rout since late 2022, after...

Three weeks into the Iran war that’s seeking 0 billion, here’s what success for Trump looks like

Three weeks into the Iran war that’s seeking $200 billion, here’s what success for Trump looks like

by FeeOnlyNews.com
March 21, 2026
0

The U.S. and Israel are locked into a longer-than-expected war that may extend through April before Iran’s military is sufficiently...

JPMorgan settles Sebi case, pays Rs 34 lakh

JPMorgan settles Sebi case, pays Rs 34 lakh

by FeeOnlyNews.com
March 21, 2026
0

JP Morgan Chase Bank N.A has settled a case with market regulator Sebi for violating foreign portfolio investor (FPI) regulation...

Musk misled Twitter investors before 2022 buyout, jury says

Musk misled Twitter investors before 2022 buyout, jury says

by FeeOnlyNews.com
March 20, 2026
0

Elon Musk defrauded Twitter Inc. investors when he disparaged the company in 2022 in an effort to buy the social...

Trump says U.S. considers ‘winding down’ Iran military effort

Trump says U.S. considers ‘winding down’ Iran military effort

by FeeOnlyNews.com
March 20, 2026
0

President Donald Trump said he was considering “winding down” US military efforts against Iran, saying that the US was close...

Georgia opens the gas-tax playbook on oil shock (UNG:NYSEARCA)

Georgia opens the gas-tax playbook on oil shock (UNG:NYSEARCA)

by FeeOnlyNews.com
March 20, 2026
0

Mar 20, 2026, 3:14 PM ETUnited States Natural Gas Fund LP ETF (UNG), BOIL, UNL, NG1:COM, KOLD, FCG, XLE, CO1:COM,...

Next Post
A Dave Ramsey Caller Asked If Buying A Classic Muscle Car Beats Buying A Home. Here’s The Rare Case Where That Decision Might Pay Off

A Dave Ramsey Caller Asked If Buying A Classic Muscle Car Beats Buying A Home. Here's The Rare Case Where That Decision Might Pay Off

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
York IE Appoints Chuck Saia to its Strategic Advisory Board

York IE Appoints Chuck Saia to its Strategic Advisory Board

February 18, 2026
Judge orders SEC to release data behind B in WhatsApp fines

Judge orders SEC to release data behind $2B in WhatsApp fines

March 10, 2026
8 Cost-Cutting Moves Retirees Are Sharing Online in February

8 Cost-Cutting Moves Retirees Are Sharing Online in February

February 14, 2026
3 Grocery Chains That Give Seniors a “Gas Bonus” for Every  Spent

3 Grocery Chains That Give Seniors a “Gas Bonus” for Every $50 Spent

March 15, 2026
8 Procedures That Can Be Cheaper Without Insurance

8 Procedures That Can Be Cheaper Without Insurance

February 14, 2026
FPA partners with Snappy Kraken to update PlannerSearch

FPA partners with Snappy Kraken to update PlannerSearch

February 25, 2026
Israeli AI cybersecurity co Surf AI raises m

Israeli AI cybersecurity co Surf AI raises $57m

0
Kalshi Defies U.S. Legal Tussle and Nevada Temporary Ban as Valuation Doubles to B

Kalshi Defies U.S. Legal Tussle and Nevada Temporary Ban as Valuation Doubles to $22B

0
I’m 37 and I realized last month that I have two hundred contacts in my phone and not a single person I could call at 2 AM without feeling like I was being a burden — and that math broke something in me

I’m 37 and I realized last month that I have two hundred contacts in my phone and not a single person I could call at 2 AM without feeling like I was being a burden — and that math broke something in me

0
GPUs Are Driving the Next Wave of AI Data Center Expansion

GPUs Are Driving the Next Wave of AI Data Center Expansion

0
How global conflict affects your finances in Canada

How global conflict affects your finances in Canada

0
Best money market account rates today, March 20, 2026 (up to 4.01% APY return)

Best money market account rates today, March 20, 2026 (up to 4.01% APY return)

0
I’m 37 and I realized last month that I have two hundred contacts in my phone and not a single person I could call at 2 AM without feeling like I was being a burden — and that math broke something in me

I’m 37 and I realized last month that I have two hundred contacts in my phone and not a single person I could call at 2 AM without feeling like I was being a burden — and that math broke something in me

March 21, 2026
Rupee on shaky ground, touches fresh low of 93.73

Rupee on shaky ground, touches fresh low of 93.73

March 21, 2026
Three weeks into the Iran war that’s seeking 0 billion, here’s what success for Trump looks like

Three weeks into the Iran war that’s seeking $200 billion, here’s what success for Trump looks like

March 21, 2026
Grayscale Files For HYPE ETF – Here’s What To Know

Grayscale Files For HYPE ETF – Here’s What To Know

March 21, 2026
JPMorgan settles Sebi case, pays Rs 34 lakh

JPMorgan settles Sebi case, pays Rs 34 lakh

March 21, 2026
The Global Energy Crisis & The Market Impact Into 2028

The Global Energy Crisis & The Market Impact Into 2028

March 21, 2026
FeeOnlyNews.com

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Financial Planning
  • Investing
  • Market Analysis
  • Markets
  • Money
  • Personal Finance
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • I’m 37 and I realized last month that I have two hundred contacts in my phone and not a single person I could call at 2 AM without feeling like I was being a burden — and that math broke something in me
  • Rupee on shaky ground, touches fresh low of 93.73
  • Three weeks into the Iran war that’s seeking $200 billion, here’s what success for Trump looks like
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclaimers
  • About Us
  • Contact Us

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

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
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.