Bill Gates reportedly donates $50 million to support Kamala Harris, concerned over Trump’s policies

Microsoft co-founder Bill Gates is supporting Kamala Harris in the 2024 presidential election.

Microsoft co-founder Bill Gates is backing Democratic Vice President Kamala Harris in the 2024 presidential election, as reported by The New York Times.

Insiders reportedly informed the publication that Gates, who has traditionally stayed out of politics publicly, contributed around $50 million to a nonprofit supporting Harris's campaign.

In a statement to the Times, Gates did not confirm or refute the donation but commented, “this election is different.” Fortune has reached out to Gates for further comment.

The Times article mentions that Gates is worried about former President Donald Trump’s economic policies and potential cuts to global health and family planning programs.

News of Gates’ support for the Democratic nominee follows a recent shift in public perception regarding Harris' ability to defeat Trump in the upcoming election. Crypto prediction platform Polymarket, which has $2.3 billion staked on the election, heavily favors Trump with a 64% likelihood of winning. PredictIt shows similar odds leaning towards Trump.

Billionaire investor Stanley Druckenmiller, renowned for his accurate assessments in uncertain geopolitical climates, suggested in a Bloomberg interview last week that market insiders are anticipating a Trump victory. He also predicted a “red sweep” for Republican candidates.

“Personally, I think anybody that votes for Trump is probably not going to change their ballot for a Democrat in Congress,” Druckenmiller added.

Meanwhile, Harris continues to draw support from wealthy donors.

Fellow billionaire philanthropist Melinda French Gates endorsed Harris in July, making a significant contribution to her campaign. “I feel like Kamala, I was happy to endorse,” French Gates told Stephen Colbert on The Late Show in July. “I’ve worked with her before, she knows what we need in society and she’s using her voice against those issues already on the campaign trail, and I knew she would.”