• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Economy

Trump ally who donated $130 million to pay troops amid shutdown revealed as reclusive billionaire heir: report

by October 26, 2025
by October 26, 2025

The anonymous donor who gave $130 million to the Pentagon to pay troops during the government shutdown has been identified as Timothy Mellon, a reclusive billionaire and a major financial backer of President Donald Trump, according to a report.

Trump announced the donation on Thursday, but declined to reveal the donor’s identity, only describing him as a ‘patriot’ and a friend. The president again refused to name the person on Friday while talking to reporters aboard Air Force One shortly after departing Washington for Asia, calling the donor ‘a great American citizen’ and a ‘substantial man.’

‘He doesn’t want publicity,’ Trump said on Friday. ‘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.’

But the two people familiar with the matter told The New York Times that the man is Mellon, a wealthy banking heir and railroad magnate.

It remains unclear how long the donation will cover the troops’ salaries. The Trump administration’s 2025 budget asked for about $600 billion in total military compensation, according to the Congressional Budget Office.

The $130 million donation would equal about $100 a service member, according to The New York Times.

Mellon, a grandson of former Treasury Secretary Andrew W. Mellon, is a backer of Trump who gave tens of millions of dollars to groups supporting the president’s 2024 campaign. Last year, he gave $50 million to a super PAC supporting Trump, making it one of the largest single contributions ever disclosed, the newspaper noted.

The billionaire was not a prominent Republican donor until Trump was first elected but has given hundreds of millions of dollars in recent years into supporting the president and the GOP.

He is also a significant supporter of Health and Human Services Secretary Robert F. Kennedy Jr., who also ran for president in 2024, first as a Democrat and later as an independent before dropping out to endorse Trump. Mellon donated millions to Kennedy’s presidential campaign and has also given money to the secretary’s anti-vaccine nonprofit, Children’s Health Defense, according to The New York Times.

Despite his political contributions, Mellon has sought to keep a low profile.

In an autobiography published in 2015, Mellon described himself as a former liberal who moved from Connecticut to Wyoming for lower taxes and fewer people.

The Pentagon said it accepted the donation under the ‘general gift acceptance authority.’

‘The donation was made on the condition that it be used to offset the cost of service members’ salaries and benefits,’ Pentagon spokesman Sean Parnell said in a statement to The New York Times.

But the donation may be a potential violation of the Antideficiency Act, which prohibits federal agencies from spending money in excess of congressional appropriations or from accepting voluntary services.

This post appeared first on FOX NEWS

0 comment
0
FacebookTwitterPinterestEmail

previous post
Trump gives Hamas 48 hours to return all deceased Gaza hostages, or ‘other countries will take action’
next post
Trump says he won’t waste time meeting Putin unless Ukraine deal is likely to happen soon

Related Posts

NATO ambassador says Europe ‘has a tendency to...

January 18, 2026

Khamenei calls Trump a ‘criminal,’ blames him for...

January 18, 2026

Democrat insider rips Mamdani bidet hopes for Gracie...

January 18, 2026

Former Iranian prisoners reveal torture horrors as regime...

January 18, 2026

Lindsey Graham speaks against pending execution of 26-year-old...

January 18, 2026

Trump announces escalating tariffs on Denmark and other...

January 18, 2026

Iran’s supreme leader acknowledges thousands killed as Trump...

January 18, 2026

US congressional delegation visits Denmark amid backlash over...

January 18, 2026

Top Iran prayer leader who dubbed protesters ‘Trump’s...

January 17, 2026

Trump launches phase 2 of Gaza peace plan...

January 17, 2026

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • US midday market brief: S&P 500 edges up, but losses loom after Trump’s Fed comments

    January 18, 2026
  • How weight-loss drugs are destroying big snacking, erasing billions in sales

    January 18, 2026
  • Analyst explains why Indian stocks may sell off after the budget announcement

    January 18, 2026
  • Why analysts are not impressed with Trump’s ‘Great Healthcare Plan’

    January 18, 2026
  • Why CEOs and CISOs are split on AI-driven cyber risk

    January 18, 2026
  • NATO ambassador says Europe ‘has a tendency to overreact’ over Greenland dispute

    January 18, 2026

Editors’ Picks

  • 1

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025
  • 2

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 5

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 6

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 7

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025

Categories

  • Economy (3,843)
  • Editor's Pick (409)
  • Investing (378)
  • Stock (2,577)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

NATO defense chiefs stress commitment to Ukraine,...

August 21, 2025

House passes nearly $180B funding package after...

January 9, 2026

House GOP campaign chair wants Trump ‘out...

November 22, 2025