Silicon Valley Billionaires Donate to Both Kamala Harris and Donald Trump

San Francisco is an important source of tech funding and a battleground for the presidential campaigns of both parties in the United States. Several Silicon Valley billionaires are donating to their favored candidates from both parties.

Democratic presidential candidate Kamala Harris, who hails from California, has a large base of elite donors in the area. California is a stronghold and traditional fundraising base for the Democratic Party.

Harris hosted a tech industry fundraising event in San Francisco on Sunday, attracting 700 attendees and raising $13 million in funding.

In a departure from the past, some Silicon Valley billionaires are redirecting their support towards Republican candidate Donald Trump. Campaign finance experts note that the amount of political donations flowing from Silicon Valley to Trump cannot be ignored.

The event held at the upscale Fairmont hotel reportedly saw tickets starting at $3,300 quickly sell out. Attendees looking to be major supporters and have a photo opportunity with Harris were required to donate $500,000.

Attendees included LinkedIn co-founder and venture capitalist Reid Hoffman, former Walt Disney Studios chairman Jeffrey Katzenberg, and Box co-founder Aaron Levie.

Since Harris replaced Biden as the Democratic presidential candidate, there has been increased enthusiasm and fundraising activities among Democrats.

Harris’ ties to Silicon Valley can be traced back to her career decades ago. Born in the San Francisco Bay Area, she has served as a district attorney in San Francisco, California’s Attorney General, and a U.S. Senator. Her family members also hold executive positions in the tech industry.

San Francisco has become a significant source of funding for Harris’ campaign.

Like most voters in the Bay Area, tech executives tend to lean towards supporting the Democratic Party. In California, most votes and donations often flow towards the Democratic Party.

Last Wednesday, an organization called “VCs for Harris” raised $175,000 for Harris’ campaign through a Zoom conference with 600 participants. The online petition was initiated by venture capitalist Leslie Feinzaig, urging investors to voice their support for Harris.

Also that week, about 150 hackers pledged to donate around $150,000 to Harris’ campaign team at the “Cybersecurity for Harris” event in Las Vegas.

Some prominent investors, including SpaceX, Tesla, and X CEO Elon Musk, have expressed support for Trump, hoping to back a presidential candidate who is more favorable towards mergers, cryptocurrency, and artificial intelligence policies.

Former PayPal COO and venture capitalist David Sacks publicly declared his support for Trump. He stated that Trump has a larger base of support in Silicon Valley than meets the eye, but these supporters are afraid to openly admit it.

Sacks was a supporter of Hillary during the 2016 election. In mid-July, he listed more and more tech giants supporting Trump on social media, including former Democratic donor Allison Huynh, investors Marc Andreessen and Ben Horowitz, cryptocurrency figures the Winklevoss brothers, Palantir co-founder Joe Lonsdale, and billionaire venture capitalist Doug Leone.

The Trump team has called Silicon Valley support for Trump a backing of pro-business policies. At the same time, Trump often criticizes the local government in San Francisco, issues of drug use, crime, and immigration.

Senior advisor to the Trump campaign Brian Hughes told CBS, “The fundamental reason we see this surge in support in the tech sector is President Trump’s pro-business vision, reducing regulatory burdens and creating an economic environment where American innovation can thrive.”

As of now, most mainstream tech platforms like Meta, Google, or Apple, or their executives, have refrained from publicly endorsing any candidate. In the past, they have leaned towards supporting the Democratic Party while also making donations to both parties.