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SEE 20 billionaires supporting Trump and Kamala in the race for The White House

Published

3 months ago

September 19, 2024

By Mario Deepromoter

The race for the United States Presidency has reached a fever pitch. As the US presidential election draws close, the financial backing of billionaires has become a defining factor in the campaigns of leading candidates.

Donald Trump, the Republican party candidate and Kamala Harris, who took the baton from President Biden for the Democratic party, continue to rally the support of some of America’s wealthiest, drawing powerful endorsements from influential figures in the country seeking to shape its future.

Elections are run with money, and political parties and their candidates require a lot of it to run successful campaigns. This process is supported by the high and mighty who donate good money towards the government they wish to see in power. These funds cover a range of expenses, including advertising, staffing, travel, and organising events.

From business partners to friends, acquaintances and wealthy individuals who want to see the tide turn in their favour, here are 20 billionaires supporting Trump and Kamala as the next US President.

Billionaires supporting Donald Trump
1. Elon Musk
Perhaps being Donald Trump’s biggest fan on X, which he now owns, the world’s richest man Elon Musk could also be Trump’s loudest supporter. In July, the founder worth, $250.8 billion announced plans to commit around $45 million a month to a new super political-action committee, called America PAC, backing former President Donald Trump’s presidential run.

2. Linda McMahon
Linda McMahon is the wife of Vince McMahon, the former CEO of WWE. McMahon, who is currently worth $3.1 billion had made up to $16 million in donations to Trump groups to support his election campaign. She chairs the pro-Trump nonprofit America First Policy Institute, serving on the board of Truth Social’s parent company, Trump Media and Technology Group.

3. Diane Hendricks
“I know how hard it is to build a company from nothing,” she said. “And we need a president who understands that too,” Diane Hendricks, called America’s richest self-made woman, said on stage at the Republican National Convention in her home state of Wisconsin last month. Forbes says that the $20.9 billion-worth entrepreneur has already pumped $6 million into groups that support him.

4. Andrew Beal
American banker and businessman, Andrew Beal gave more than $4 million to Trump committees and other GOP groups in 2020. The $12.2 billion- valued investor is now betting on Trump again, putting $1.8 million behind Trump’s 2024 ticket.

5. Kelcy Warren
Kelcy Warren, the billionaire in energy has been fond of Trump. Warren had given $100,000 to help elect him in 2016, then dropped more than $11 million in 2020. This time around, he has given about $6 million to support Trump’s campaign. Warren’s Energy Transfer is best known for the Dakota Access Pipeline, which Trump helped expedite in one of his first acts in office.

6. Elizabeth Uihlein & Richard Uihlein
Liz and Dick Uihlein are among the Republican party’s most generous donors, giving tens of millions per cycle. The couple have donated $5 million to trump groups according to Forbes. In 2021, the duo celebrated Trump’s “America First” trade policies and called out publicly-held companies for being “too concerned about their stock share price.”

7. Phil Ruffin
Ruffin is a significant Donald Trump donor, as well as his business partner and close friend. His donations to Trump’s PACs and committees have reached $3.3 million so far this cycle, surpassing his combined donations from the last two elections.

8. Geoffrey Palmer
Geoffrey Palmer is one of the largest apartment developers in Los Angeles, with nearly 13,000 units in the greater L.A. metro area. Palmer is a major financial backer of former president Donald Trump, donating some $16 million to his campaigns and PACs from 2016 to 2022. This year, he’s up to $3 million. The developer is worth $3.1 billion.

9. J.Joe.Ricketts
Ricketts, whose family owns the Chicago Cubs, poured $3 million into a Republican anti-Trump group back in 2016 with his wife. They have given a combined $2 million to Trump groups so far this time around, betting against Kamala.

10. Jimmy John Liautaud
Since Jimmy John sold the majority of his business to a private equity firm, he has gotten more involved in politics, as has his wife Leslie. She backed Trump in 2016 and 2020 and John joined her this year, giving $2.8 million to Trump groups so far.

Billionaires supporting Kamala Harris
1. Mark Cuban
The billionaire Shark Tank star and former principal owner of the Dallas Mavericks is one of the Democrats’ most valuable supporters. Valued at US$5.4 billion according to Forbes, Cuban, who is known to have attended a Joe Biden fundraiser, has retweeted various posts about Harris’ campaign, and signed the “VCs for Kamala” pledge.

2. Reid Hoffman
LinkedIn co-founder, Reid Hoffman has been a long-time Democratic donor and wasted no time backing Harris after Biden dropped. In January, he poured $2 million into a super political action committee (PAC) for Biden’s campaign. The former CEO, worth $2.5 billion plans to open a fundraiser for Harris and has been reported to push Netflix chairman Reed Hastings to donate US$7 million to a PAC supporting the current Vice President.

3. Vinod Khosla
Vinod Khosla, founder of Khosla Ventures, and OpenAI investor has backed Harris to win the elections in November following the withdrawal of President Biden, who he hosted a fundraiser for in May. Worth $7.2 billion per Forbes, the entrepreneur has donated to Super PACs in support of Harris.

4. Chris Sacca
Chris Sacca made early bets investing in Twitter and Uber through his venture capital firm Lowercase Capital. Now he’s making bets of Kamala Harris to be the next US president after donating to Biden’s campaign before he dropped out. Sacca noted that he and his partner Clay Dumas have “invested millions of dollars and countless hours helping build organisations and companies that we think have the best shot at giving blue candidates an edge in a game that is rigged against them.”

5. Eric Schmidt
Worth $22.5 billion per Forbes, the former CEO of Alphabet has given $1.6 million to Future Forward PAC, a Democratic super PAC, and $1.16 million to the Biden Victory Fund.

6. Dustin Moskovitz
Moskovitz, who helped to launch Facebook (now Meta Platforms) in 2004, gave up to $929,600 to the Biden Victory Fund before he dropped out of the race. Now, he has directed his attention to Kamala who goes against the same opponent, Trump.

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PRESIDENT BOLA AHMED TINUBU TEXT OF THE 2025 BUDGET

Published

2 hours ago

December 18, 2024

Gloria Ikibah

PRESENTATION BY HIS EXCELLENCY, PRESIDENT BOLA AHMED TINUBU, GCFR OF THE 2025 BUDGET OF RESTORATION: SECURING PEACE, REBUILDING PROSPERITY TO A JOINT SESSION OF THE NATIONAL ASSEMBLY ON WEDNESDAY 18TH DECEMBER, 2024.

PROTOCOLS:

— The Vice President, Senator Kashim Shettima

— Senate President, Distinguished Senator Godswill Akpabio

— Right Honourable Speaker, Tajudeen Abbas

— National Chairman of our great party, Excellency, Abdullahi Umar Ganduje

— State Governors here present

— Distinguished Leaders and Members of the National Assembly

— Senior Government Officials here present

— Gentlemen of the press,

My Fellow Nigerians,

1. In fulfilment of one of my constitutional duties and with unyielding commitment to rebuilding Nigeria towards ensuring that we remain steadfast on the journey to a prosperous future, I hereby present the 2025 Budget to the Joint Session of the 11th National Assembly.

2. On this day, before this hallowed chamber, I present to you the 2025 Budget at a time when our country is at a crucial point in its development trajectory.

3. The 2025 Budget Proposal again reinforces our administration’s roadmap to secure peace, prosperity, and hope for a greater future for our beloved nation. This budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilizing the economy, improving lives, and repositioning our country for greater performance.

4. The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey of our choosing but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.

5. The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.

6. We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.

7. The 2025 budget that I present today is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.

8. We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.

9. The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory.

CURRENT ECONOMIC REALITIES AND PROGRESS

10. Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly, I report today that our economy is responding positively to stimulus. Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending.

11. The reforms we have instituted are beginning to yield results. Nigerians will soon experience a better and more functional economy.

12. Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.

o Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.

o Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.

o Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.

13. These clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.

2024 BUDGET PERFORMANCE

14. I am happy to inform this National Assembly that our administration attained remarkable milestones in implementing the 2024 Budget. In 2024, we achieved:

o 14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter.

o 21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.

15. While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt.

PHILOSOPHY OF THE 2025 BUDGET

16. The 2025 Budget seeks to:

o Restore macroeconomic stability.

o Enhance the business environment.

o Foster inclusive growth, employment, and poverty reduction.

o Promote equitable income distribution and human capital development.

17. Our budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.

2025 BUDGET OVERVIEW

18. The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society.

o In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.

o Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.

o A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit.

19. This is an ambitious but necessary budget to secure our future.

20. The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).

21. These projections are based on the following observations:

o Reduced importation of petroleum products alongside increased export of finished petroleum products.

o Bumper harvests, driven by enhanced security, reducing reliance on food imports.

o Increased foreign exchange inflows through Foreign Portfolio Investments.

o Higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.

KEY PRIORITIES: REBUILDING NIGERIA

22. Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.

23. Highlights of the 2025 Budget Allocations:

• Defence and Security: N4.91 trillion

• Infrastructure: N4.06 trillion

• Health: N2.48 trillion

• Education: N3.52 trillion

24. As we embark on implementing the 2025 Budget, our steps are deliberate, our decisions resolute, and our priorities are clear. This budget reflects a renewed commitment to strengthening the foundation of a robust economy, while addressing critical sectors essential for the growth and development we envision.

Securing Our Nation:

25. Security is the foundation of all progress. We have significantly increased funding for the military, paramilitary, and police forces to secure the nation, protect our borders, and consolidate government control over every inch of our national territory. The government will continue to provide our security forces with the modern tools and technology they need to keep us safe. Boosting the morale of our men and women in the armed forces will remain our government’s top priority.

26. The officers, men, and women of our Armed Forces and the Nigerian Police Force are the shields and protectors of our nation. Our administration will continue to empower them to defeat insurgency, banditry, and all threats to our sovereignty. Our people should never live in fear—whether on their farmlands, highways or cities. By restoring peace, we restore productivity, revive businesses, and rebuild our communities.

Infrastructure Development:

27. When we launched the Renewed Hope Infrastructure Development Fund, it was with the conviction that infrastructure remains the backbone of every thriving economy. Under this programme, we are accelerating investments in energy, transport, and public works. By leveraging private capital, we hope to complete key projects that drive growth and create jobs. We have already embarked on key legacy projects: Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway, which will have a huge impact on the lives of our people and accelerate economic output.

Human Capital Development:

28. Our people are our greatest resource. That is why we are making record investments in education, healthcare, and social services:

o Our administration has so far disbursed 34 billion naira to over 300,000 students via the Nigeria Education Loan Fund (NELFUND). In the 2025 Budget, we have made provision for 826.90 billion naira for infrastructure development in the educational sector. This provision also includes those for the Universal Basic Education (UBEC) and the nine new higher educational institutions.

o We are convinced that Universal Health Coverage initiatives will strengthen primary healthcare systems across Nigeria. In this way, we have allocated 402 billion naira for infrastructure investments in the health sector in the 2025 Budget and another 282.65 billion naira for the Basic Health Care Fund. Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians. This is consistent with the Federal Government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide, improving healthcare access and reducing medical import dependency.

Revitalizing Agriculture:

29. Increasing agricultural production is central to our food security agenda, but insecurity has crippled this vital sector. We are supporting our farmers with funding and inputs to reignite productivity. Food security is non-negotiable. In this regard, we are taking bold steps to ensure that every Nigerian can feed conveniently, and none of our citizens will have to go to bed hungry.

30. Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly and fellow Nigerians, our 2025 budget proposal is not just another statement on projected government revenue and expenditures. It is one that calls for action.

31. Our nation faces existential threats from corruption and insecurity and suffers from many past poor choices. These challenges are surmountable when we work collaboratively to overcome them. We must rewrite the narrative of this nation together, with every leader, institution, and citizen playing their part.

32. The time for lamentation is over. This is a time to act. A time to support and promote greater investment in the private sector. A time for our civil servants to faithfully execute our policies and programmes. It is a time for every Nigerian to look hopefully towards a brighter future because a new day has dawned for us as a nation.

33. As your President, I remain committed and resolute to continue to lead the charge.

34. This 2025 budget proposal lays the foundation for peace, prosperity, and much needed hope. It is the plan through which a Nigeria where every citizen can dream, work, and thrive in safety can be achieved.

35. It is with great pleasure, therefore, that I lay before this distinguished Joint Session of the National Assembly the 2025 Budget of the Federal Government of Nigeria titled “The Restoration Budget: Securing Peace, Rebuilding Prosperity.

36. May God bless our Armed Forces and keep them safe. May God bless the Federal Republic of Nigeria.

Thank you.

Bola Ahmed Tinubu, GCFR

President, Commander-in-Chief of The Armed Forces,

Federal Republic of Nigeria

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Netizens Slam Lawmakers As They Sing Tinubu’s Anthem At Budget Presentation

Published

2 hours ago

December 18, 2024

Naijablitznews

Netizens slam lawmakers after they were sighted singing “On Your Mandate We Shall Stand” as President Bola Ahmed Tinubu took the stage to present the 2025 national budget.

The incident, which is in a viral video clip, showed the lawmakers singing the song, which has become synonymous with Tinubu’s political supporters.

The gesture, however, has ignited outrage among Nigerians, who questioned its appropriateness in light of the country’s current economic challenges.

Many critics took to social media to express their disappointment, describing the act as insensitive and unprofessional. They argued that lawmakers should focus on addressing pressing national issues, such as a inflation, unemployment, and hardship, rather than engaging in political theatrics with Tinubu during a crucial budget session.

“What kind of leadership did we vote for? Instead of scrutinizing the budget and ensuring accountability, they’re busy singing praises,” one commenter wrote.

Others questioned the mandate the lawmakers you were celebrating, with some accusing them of being disconnected from the realities faced by ordinary Nigerians. “What mandate are they standing on when the citizens are struggling to make ends meet?” another critic remarked.

The 2025 budget presentation, meant to outline the government’s financial plans and priorities for the year, has now been overshadowed by this controversy, with many calling for lawmakers to prioritize governance over partisan loyalty.

Read some netizens’ reactions as lawmakers sings for Tinubu during budget presentation;

@emeka: This is really problematic 🤣🤣

@agwai: This is the reason the president don’t do well in Nigeria because the people around him feed him with lies. And praise him when things is not good. Just clapping

@abyusuf: The lawmaker’s rendition of “On Your Mandate” should serve as a wake-up call, reminding us that it’s time to take a closer look at the people we’ve elected to represent us.

@danleety: I now believe there’s serious disconnect between the lawmakers and their constituents.

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Tax Reforms: Those criticising it lack knowledge -Akpabio

Published

2 hours ago

December 18, 2024

Naijablitznews

The Senate President, Godswill Akpabio, has flayed critics of President Bola Tinubu’s tax reforms as lacking an understanding of what the initiatives were truly about.

Akpabio disclosed this during his remarks at the presentation of the 2025 budget estimate by President Tinubu to a joint session of the National Assembly on Wednesday.

He said, “Your Excellency, we commend you on your groundbreaking tax reform initiative. The four tax reform bills—the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Tax Administration Bill, 2024; and Nigeria Tax Bill, 2024—represent a monumental shift in our fiscal landscape.

It is disheartening that those who have not taken the time to understand these bills are the loudest critics. I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully. This initiative marks the first comprehensive tax reform since Nigeria’s independence, presenting a transformative opportunity for rejuvenating small and medium enterprises and enhancing the livelihoods of ordinary Nigerians.

“These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming our tax system to support sustainable development.”