2024’s $oar losers

No-chance hopefuls haul big donations

Wealthy donors are shelling out millions of dollars to presidential candidates who, polling suggests, don’t stand a chance of winning.

Billionaires and scions of the Mellon and Rockefeller families are throwing super PAC cash at independent Robert Kennedy Jr. and Democrat Dean Phillips — so much so that Kennedy bought a $7 million Super Bowl ad Sunday.

“Never before has so much money been blown on such second-rate candidates,” one fundraising source said.

This new era, sources say, is a direct result of the deep disenchantment with both major political parties and the candidates those parties are positioned to renominate.

“People don’t feel comfortable in their social circles supporting Trump or Biden,” the fundraising source said of the need to support candidates outside the Republican and Democrat establishment.

“Neither candidate hits the 50% approval mark,” Democratic strategist Hank Sheinkopf says.

Supporting an outside candidate is a way to either spoil the election or highlight more niche issues, like artificial-intelligence regulation.

Half of RFK’s $50 million haul is thanks to just two donors: banking heir Timothy Mellon, 81, and security specialist to the stars Gavin de Becker, Rolling Stone reported.

In previous elections, longshot presidential candidates have failed to bring in mega donors.

RFK’s top donor, Mellon, is also a longtime Trump supporter and has donated $10 million to the former president this cycle. Given his existing allegiance to Republicans, some strategists have suggested Mellon is trying to spoil the race for Biden.

“These are setups to make sure someone fails,” Sheinkopf adds. “But it’s a gamble because no one really knows who [Kennedy] will take votes from.”

RFK is currently polling at 16% in Wisconsin and 8% in Michigan, key swing states.

Rep. Phillips (Minn.) has been quieter about how much money his super PAC has brought in, but his campaign has raised more than $5 million and he loaned it an additional $4.2 million, according to election filings.

Bill Ackman, the outspoken activist hedge-fund founder gave Phillips $1 million, according to reports.

Along with RFK, Phillips has gotten cash from Silicon Valley titans including Gmail creator Paul Buchheit and OpenAI cofounder Matt Krisiloff.

RUN FOR THE MONEY: Dean Phillips (left) has raised $5 million for his quixotic bid to win the Democratic nomination over President Biden, and Robert F. Kennedy Jr.’s independent campaign raised enough to afford a Super Bowl ad (right).