The $100 Billion Club: These 14 People Have 12-Figure Fortunes
I was reminded after reading that 131 billionaires who are pouring millions into Joe Biden’s campaign in their mindless obsession to defeat Trump in November. Among the prominent are Jeff Skoll, of eBay who has contributed $4.5 million; Laurene Powell Jobs of Apple and owner of The Atlantic magazine has donated $1.2 million, and Josh Bekenstein, of Bain Capital (co-founded by Mitt Romney), $5 million.
STEVE McCANN
Biden Campaign Rakes in $90M During March, Topping Trump Haul
April 6 (UPI) — President Joe Biden’s re-election campaign said Saturday it raised a thumping $90 million in March, a multimillion-dollar advantage over Republican rival Donald Trump’s operation during the same time period.
The Biden campaign made the announcement in a statement issued to media outlets, saying the haul raised its fundraising total for 2024 to $187 million, including $192 million cash on hand heading into the second quarter of 2024.
Aides for Biden released the total ahead of a monthly filing deadline to do so imposed by the Federal Elections Commission.
The president recently held major fundraising events in New York and Washington, D.C., which contributed largely to the financial success of his campaign so far.
Trump by comparison raised $43 million during March, CNN reported, citing campaign sources. The former president’s totals so far have fallen short of his 2020 election campaign fundraising totals.
Trump raised $65.6 million in March, when combined with the efforts of the Republican National Committee.
Biden campaign officials seized on the multi-million-dollar difference.
“The money we are raising is historic, and it’s going to the critical work of building a winning operation, focused solely on the voters who will decide this election — offices across the country, staff in our battleground states, and a paid media program meeting voters where they are,” Biden’s campaign manager Julie Chavez Rodriguez said in a press release.
“It’s a stark contrast to Trump’s cash-strapped operation that is funneling the limited and billionaire-reliant funds it has to pay off his various legal fees.”
Trump’s campaign said the former president expects to raise $43 million at a fundraiser dinner Saturday night in Florida.
The event is the first since Trump’s campaign merged with the Republican National Committee, after he became the party’s presumptive presidential nominee.
Former first lady Melania Trump is scheduled to host a fundraising event for the Log Cabin Republicans on April 20 at Mar-a-Lago in Palm Beach, Fla.
Biden, meanwhile, has relied on smaller donations.
The president’s campaign said 96% of its donations were under $200, while 1.6 million people have donated to it so far.
Joe Biden’s America: Wealthiest 1% Set Record with $44 Trillion Total Net Worth
The wealthiest one percent in President Joe Biden’s America set a record with a net worth of $44 trillion at the end of the fourth quarter, U.S. Federal Reserve data revealed.
Biden casts his administration as opposed to the widening wealth gap, even though a majority of Americans still live paycheck to paycheck, a recent LendingClub study found, raising concerns that so-called “Bidenomics” failed to help average Americans.
A majority of voters are “worse off financially” under Biden, up 25 points since he assumed office in 2021, a Fox News poll found Wednesday.
The fourth quarter gains resulted from stock holdings, thanks to an end-of-year rally, CNBC reported:
The total net worth of the top 1%, defined by the Fed as those with wealth over $11 million, increased by $2 trillion in the fourth quarter. All of the gains came from their stock holdings. The value of corporate equities and mutual fund shares held by the top 1% surged to $19.7 trillion from $17.65 trillion the previous quarter.
While their real estate values went up slightly, the value of their privately held businesses declined, essentially canceling out all other gains outside of stocks.
The quarterly gain marked the latest addition to an unprecedented wealth boom that began in 2020 with the Covid-19 pandemic market surge. Since 2020, the wealth of the top 1% has increased by nearly $15 trillion, or 49%. Middle-class Americans have also seen a rising wealth tide, with the middle 50% to 90% of Americans seeing their wealth increase 50%.
A U.S. Federal Reserve chart shows the wealth of the top one percent in America.
Wendell Husebo is a political reporter with Breitbart News and a former GOP War Room Analyst. He is the author of Politics of Slave Morality. Follow Wendell on “X” @WendellHusebø or on Truth Social @WendellHusebo.
Analysis: Grocery Prices Nearing 40 Percent Higher Than In 2019
A $100 grocery haul in 2019 costs almost $140 today — nearly 40 percent more for the same common items, causing consumers to “become creative to cope” with crippling inflation.
According to a Wall Street Journal analysis of NielsenIQ data on the prices of everyday foods such as meat, vegetables, starches, and snacks, Americans are facing a dramatic increase across all categories.
“A Benjamin just isn’t what it used to be,” the Journal’s Stephanie Stamm and Jesse Newman wrote, alongside graphs showing that the average $100 grocery list now costs 36.5 percent more compared to five years ago.
This means that in order to spend the same amount on food as they did in 2019, shoppers would have to place almost $37 worth of items back on the shelves before checking out.
Some items have increased even more dramatically, such as eggs, at 63 percent higher, and sports drinks, which are up 80 percent.
Prices increased by one percent from February 2023 to February 2024, but the most dramatic jump took place from 2022 to 2023 with a whopping 10.2 percent surge.
“Executives have said that higher prices were needed to offset their own rising costs for ingredients, transportation and labor,” the report stated. “Some U.S. lawmakers and the Biden administration have criticized food companies for using tactics such as shrinkflation, in which companies shrink their products—but not their prices.”
Consumers have been forced to “become creative to cope with a stretch of record food inflation,” choosing cheaper versions of the products they prefer or strategically looking for sales, coupons, and deals.
Sharon Faelten, 74, of Vermont, told the publication that she treats grocery shopping days as though she’s foraging during an apocalypse — getting as much food as possible as cheaply as possible.
“Chicken is always on sale somewhere,” Faelten said, describing how she has managed to keep her fridge stocked while not spending more than she did several years ago.
Arizona U.S. Senate Candidate Kari Lake (R) blamed the inflation on “Bidenomics.”
NewsBusters managing editor Curtis Houck slammed ABC’s Good Morning America for ignoring President Joe Biden’s economic policy that has influenced inflation.
“No mention of Biden, no mention of inflation. They’re just completely floored and tell people to use apps, buy in bulk, and shop at discount stores instead,” he wrote on X. “Amazing.”
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