Co-founder of Oracle, Larry Ellison, middle, says the Pledge of Allegiance earlier than Republican presidential candidate Tim Scott delivers his speech saying his candidacy for president of the United States on the campus of Charleston Southern University in North Charleston, S.C., Monday, May 22, 2023.
Mic Smith | AP
Oracle co-founder and Republican megadonor Larry Ellison is making ready to spend millions of {dollars} backing Sen. Tim Scott’s run for president.
The plans have been in movement for the reason that 2022 midterms, when Ellison donated $30 million to a pro-Scott tremendous PAC, Opportunity Matters Fund, in accordance to folks accustomed to the Oracle govt chairman’s plans. People who declined to be named for this story did so so as to communicate freely about non-public planning and deliberations.
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Scott announced his campaign Monday.
A Republican strategist and fundraiser shut to Ellison advised CNBC that the businessman’s donations to the tremendous PAC this time are doubtless to no less than double what he gave in 2022.
The tremendous PAC through the midterms backed Scott and spent millions extra for different Republicans working for Senate seats, together with slightly below $2 million for failed Georgia Senate candidate Herschel Walker, in accordance to the nonpartisan OpenSecrets. The Opportunity Matters Fund PAC has been rebranded for Scott’s White House run with a brand new title: Trust In The Mission PAC, or TIM PAC.
Ellison attended Scott’s marketing campaign announcement Monday in South Carolina. Ellison, who has a internet value of about $115 billion, sat in a VIP part on the rally.
Scott praised Ellison on the rally, calling the businessman “one in every of my mentors.” A spokesman for the Scott marketing campaign didn’t return requests for remark.
Ellison contributed simply over $7 million to numerous political causes in 2020, together with $5 million to the Opportunity Matters Fund and $1 million towards a brilliant PAC that supported Sen. Susan Collins, R-Maine, as she succesfully ran for reelection, in accordance to OpenSecrets.
Ellison donated $5 million through the 2016 election cycle to the Conservative Solutions PAC, a brilliant PAC that spent over $30 million backing Republican Sen. Marco Rubio’s failed bid for the presidency, in accordance to Federal Election Commission data. The PAC additionally spent millions opposing former President Donald Trump, in accordance to the data.
Another veteran Republican fundraiser advised CNBC that Ellison is already planning to donate up to $10 million to the TIM PAC within the early going of Scott’s run. Ellison has signaled to allies that he may give no less than between $20 million and $30 million extra this cycle, this individual mentioned.
Ellison admires Scott an excellent deal for the senator’s robust assist for Israel, in accordance to a lobbyist who’s labored with Oracle and has identified Ellison for years.
U.S. Senator Tim Scott (R-SC), the one Black Republican senator, broadcasts his candidacy for the 2024 Republican presidential race in North Charleston, South Carolina, May 22, 2023.
Randall Hill | Reuters
A latest Morning Consult survey means that Scott is behind lots of his Republican rivals. The ballot has Scott with 1% of main assist, with Trump main the ballot with 61%.
Ellison did not return a request for remark. A spokesperson for Oracle didn’t return requests for remark.
Ellison won’t be the one mega-billionaire in Scott’s nook because the 2024 race heats up.
The Republican strategist shut to Ellison additionally famous that Tesla CEO and Twitter proprietor Elon Musk may observe his buddy and supporter Ellison in backing the South Carolina senator.
Musk has just lately adopted Scott on Twitter, retweeted the senator’s tweet that includes the video of the marketing campaign announcement and praised a latest Scott advert. “Great assertion by @votetimscott!,” Musk tweeted on Friday. Musk, who has a internet value of about $176 billion, beforehand mentioned he would support Florida Republican Gov. Ron DeSantis if he ran for president.
Musk didn’t return a request for remark.
