37 Billionaires Made Six-Figure Contributions Supporting Biden In The Last 3 Months | Biden Doubled His Campaign Cash

Plus: Greedy Or Needy: Why More Than A Thousand Financial Advisors Took PPP Loans

For the first time since Joe Biden became the Democratic nominee, we had the chance to find out just how much money he is taking in from billionaire donors, thanks to a new batch of FEC filings out this week. So far we found that at least 37 billionaires or their spouses made six-figure contributions to Biden and the DNC. That kind of support played a role in helping him double his campaign cash in June, Forbes’s Andrew Solender reports. We also found that six more billionaires have joined Walmart heiress Christy Walton to give money to the anti-Trump super-PAC. More to come next week as we continue to follow the campaign money trail.  

Mind On Their Money

In yet another indication that President Donald Trump is falling distantly behind in his bid for reelection, the Biden campaign doubled their cash-on-hand since April while slashing Trump’s advantage by nearly $100 million.

Six more billionaires have donated to the anti-Trump Lincoln project. Silicon Valley investors and a Boston media magnate are among the recent billionaire donors to the Republican-led super-PAC doing its best to defeat Trump in November.

Joe Biden's next Covid stimulus pitch is a $2 trillion green energy jobs plan. Biden unveiled the second phase of his four part economic stimulus plan on Tuesday.

Biden unveiled the first phase of his “Build Back Better” plan last week, a “Buy America” proposal that promises to bring back the jobs lost to the pandemic this year and to create at least 5 million new jobs in manufacturing and innovation.

After sending at least $1.4 billion in federal stimulus money—more than one million checks—in error to the deceased, the IRS and Treasury Department announced that it is cancelling all outstanding stimulus checks made out to those who have died.

The White House has dropped its plan to deport international students attending online-only classes. It comes after over 200 U.S. universities sued ICE and DHS to change the policy.

Forbes took a look inside Mitre Corp, the U.S. government's secretive $2 billion research hub collecting fingerprints from Facebook, hacking smartwatches and fighting Covid-19. The cloak-and-dagger R&D shop might just be the most important organization you've never heard of.

Inside the FBI's Quantico headquarters a secret $35 million unit mixes facial recognition with big data to investigate America's most horrific crimes.

Meet A Billionaire Donor

Wynn has contributed more than $450,000 to committees supporting Donald Trump’s reelection, so far. He served as the finance chair of the Republican National Committee until 2018, when he stepped down amid sexual misconduct allegations, which he has denied. After he left his RNC post, Wynn gave $250,000 to the RNC the next year. Committees supporting two prominent Trump defenders, Senator Mitch McConnell of Kentucky and Representative Elise Stefanik of New York, have also received recent contributions from him, FEC filings show. For more on Donald Trump’s donors go here.

Global Economy

Total confirmed coronavirus deaths in Latin America and the Caribbean surpassed the death toll in the U.S. and Canada for the first time this week, a deadly shift in the pandemic’s spread of which health organizations have warned.

Facing around 500 new daily infections each, England and France both announced Tuesday new nationwide mask mandates to curb slight resurgences of the virus, highlighting a stark difference in approach to the significantly harder-hit U.S., whose leaders have strongly rebuked the need for a national requirement despite new highs of 60,000 daily infections.

In April, Facebook announced it was investing $5.7 billion in India. In January it was Amazon, investing $1 billion in India. This week it’s Google (or its parent company, Alphabet) investing $10 billion in partnerships, infrastructure, and ecosystems in India.

After record oil production cuts in April intended to prop up the market amid a demand crisis caused by the coronavirus pandemic, OPEC and its allies are ready to boost production. But here's why an oil market recovery isn't guaranteed.

The U.K. government will ban Huawei from its 5G networks—barring telecom companies from purchasing equipment made by the Chinese firm—in a move that is a sharp u-turn from its previous stance and a major diplomatic win for the Trump administration and the U.S.

British Airways confirmed earlier reports Tuesday that it will auction off pieces from its art collection in a bid to offset the major hit the company has taken during the coronavirus pandemic—but the roughly $1.7 million the airline has to gain according to auction estimates is likely a drop in the bucket compared to the cash the travel giant is bleeding.

EDITOR'S PICKS

Biden’s Tax Plan Could Cut S&P 500 Earnings By 12%, Goldman Sachs Warns (Forbes)

Dallas Fed President: Economy Would ‘Grow Faster’ With A Mask Mandate, Unemployment Would Fall (Forbes)

House Democrats Ask Supreme Court To Help Them Get Trump’s Financial Records ASAP (Forbes)

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