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Why Billionaires Favor Clinton over Trump

Views Ahead Of The First Presidential Debate At Hofstra UniversityViews Ahead Of The First Presidential Debate At Hofstra University
A group of Hofstra University students stand in front of a CNN trailer with images of Hillary Clinton, 2016 Democratic presidential nominee, and Donald Trump, 2016 Republican presidential nominee, ahead of the first U.S. presidential debate at Hofstra University in Hempstead, New York, U.S., on Sunday, Sept. 25, 2016. Clinton and Trump will face each other, and likely a record television audience, in the first general election debate of the 2016 U.S. presidential campaign on Monday. Andrew Harrer—Bloomberg via Getty Images

Donald Trump might be in the billionaire’s club, but his cohorts don’t want him to be the next president.

In fact, Democratic presidential nominee Hillary Clinton has out-raised Trump 20 to 1 when it comes to donations from billionaires, according to an analysis by Bloomberg Monday. While Clinton has collected $21.1 million for her campaign and related political action committees from 17 U.S. billionaires, Trump has received $1.02 million from 12.

Clinton’s biggest supporters, at least based on their donations, are two Wall Streeters: George Soros, who has raised $11.9 million on behalf of Clinton, and James Simons, who has brought in $7 million.

Trump’s biggest billionaire donors are the founder of Public Storage, Bradley W. Hughes Sr., and real estate mogul, Richard LeFrak. Hughes has given $449,000 to Trump’s campaign, while LeFrak has donated $100,000.

That said, billionaires’ funds are a mere fraction of each campaign’s total donations: it’s roughly 6% of Clinton’s $373.3 million and 0.006% of Trump’s $165.9 million.

 

Clinton’s sizable donation from Wall Street will likely be a sore spot for the candidate during the presidential debate Monday night. Already, the nominee’s relationship with the financial industry has come under fire several times throughout the campaign trail. While banks don’t particularly like Clinton’s idea to add more regulations, they still consider her the more stable option for the economy.

Meanwhile, experts note that Clinton’s plans to spend more on infrastructure, focus on economic growth, and leave doors open to international trade (at least more so than Trump plans to do) are likely to create a better atmosphere for businesses.

And billionaires aside, even the CEOs of the Fortune 100 have donated nothing to Trump, despite the nominee’s assertion that he is a successful businessman and would be better for the U.S. economy.