Hedge Fund Money Says No to Trump

August 24, 2016 Debbie Jacobs In the News

Anthony Scaramucci gestures during the World Economic Forum 2014. Photo by Urs Jaudas/World Economic Forum

Anthony Scaramucci gestures during the World Economic Forum 2014. Photo by Urs Jaudas/World Economic Forum

Hedge funds do not seem to be supporting Trump in anything like the ways it was predicted it would. Filings made with the Federal Election Commission for donations made in July show that the Donald Trump campaign raised a little bit over $2 million from hedge fund industry members, and most of that coming from just one source: co-head of Renaissance Technologies Robert Mercer.

Executive director of the Center for Responsive Politics, Sheila Krumholz, said that although the totals for July appear anemic, the trend for Trump is still positive.

“We can see that it has gone from a pittance — a mere thousands of dollars — to millions, but it’s impossible for us to say at this point what the final figure is for July,” said Krumholz. “It’s possible we’ll see, if not a sea change, then a big leap forward for Trump.”

The sums are especially disappointing in light of Anthony Scaramucci’s claim that about 20 percent of the approximately $70 million the Trump campaign raised in July was from hedge funds. According to Sacaramucci’s equation that would mean hedge funds had contributed a juicy $14 million, which seems to be not even close.

Anthony Scaramucci, Center for Responsive Politics, Donald Trump, Robert Mercer, Sheila Krumholz,

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