• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Iran strikes 85 U.S. military sites in the Gulf, sparking a global selloff in stocks and a spike in the price of oil

2

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it

3

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

1

Iran strikes 85 U.S. military sites in the Gulf, sparking a global selloff in stocks and a spike in the price of oil

2

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it

3

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
LawGovernment

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

By
Nino Paoli
Nino Paoli
Former News Fellow
Down Arrow Button Icon
By
Nino Paoli
Nino Paoli
Former News Fellow
Down Arrow Button Icon
October 25, 2025, 6:28 PM ET
President Donald Trump announced a $130 million donation by an anonymous donor to help pay U.S. troops on Thursday.
President Donald Trump announced a $130 million donation by an anonymous donor to help pay U.S. troops on Thursday.OLIVER CONTRERAS/AFP via Getty Images
Add Fortune on Google for similar content.

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.

Recommended Video

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.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
By Nino PaoliFormer News Fellow

Nino Paoli is a former Dow Jones News Fund news fellow at Fortune.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Law

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Law

Trump loses bid to delay Carroll’s $5 million trial payout
LawDonald Trump
Trump loses bid to delay Carroll’s $5 million trial payout
By Erik Larson and BloombergJuly 8, 2026
5 hours ago
‘We’ll probably hit them hard again’: Trump warns Iran U.S. is preparing for more strikes following what he called the end of the ceasefire
PoliticsDonald Trump
‘We’ll probably hit them hard again’: Trump warns Iran U.S. is preparing for more strikes following what he called the end of the ceasefire
By The Associated Press, Jon Gambrell and Seung Min KimJuly 8, 2026
8 hours ago
Billionaire soccer fan Ken Griffin helped engineer Team USA’s best World Cup run in 24 years. Now, he looks ‘forward to building on that momentum’
Arts & EntertainmentSports
Billionaire soccer fan Ken Griffin helped engineer Team USA’s best World Cup run in 24 years. Now, he looks ‘forward to building on that momentum’
By Catherina GioinoJuly 8, 2026
17 hours ago
Palantir CEO Alex Karp with his arms outstretched while making a point on stage.
NewslettersEye on AI
Palantir CEO Alex Karp is wrong about the threat Anthropic and OpenAI pose to most enterprises. That doesn’t mean he doesn’t have something to lose
By Jeremy KahnJuly 7, 2026
1 day ago
European Parliament members call for a probe of FIFA president Gianni Infantino over his Trump call before the decision to let Balogun play
PoliticsDonald Trump
European Parliament members call for a probe of FIFA president Gianni Infantino over his Trump call before the decision to let Balogun play
By The Associated PressJuly 7, 2026
1 day ago
Chinese tea chain’s $1.5 million trademark infringement loss to Louis Vuitton sparks fight over who owns a flower pattern
AsiaChina
Chinese tea chain’s $1.5 million trademark infringement loss to Louis Vuitton sparks fight over who owns a flower pattern
By The Associated Press and Chan Ho-HimJuly 7, 2026
1 day ago

Most Popular

Iran strikes 85 U.S. military sites in the Gulf, sparking a global selloff in stocks and a spike in the price of oil
Newsletters
Iran strikes 85 U.S. military sites in the Gulf, sparking a global selloff in stocks and a spike in the price of oil
By Jim EdwardsJuly 8, 2026
14 hours ago
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
Success
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
By Preston ForeJuly 6, 2026
2 days ago
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
AI
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
By Marco Quiroz-GutierrezJuly 5, 2026
3 days ago
Presidents aren't supposed to pick winners, former White House ethics lawyer says. Trump keeps choosing Dell
Politics
Presidents aren't supposed to pick winners, former White House ethics lawyer says. Trump keeps choosing Dell
By Mia OsmonbekovJuly 7, 2026
1 day ago
Current price of oil as of July 7, 2026
Personal Finance
Current price of oil as of July 7, 2026
By Joseph HostetlerJuly 7, 2026
1 day ago
$25 billion CEO says one-hour interviews are a waste of time—he puts candidates through six hours of tests and wants them to order wine at lunch
Success
$25 billion CEO says one-hour interviews are a waste of time—he puts candidates through six hours of tests and wants them to order wine at lunch
By Orianna Rosa RoyleJuly 3, 2026
6 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.