Billionaire Oracle co-founder Larry Ellison is looking to spend millions to support GOP Sen. Tim Scott's run for president, sources told CNBC.
A Republican strategist and fundraiser close to Ellison told CNBC that the businessman's donations to the super PAC this time are likely to at least double what he gave in 2022.
Ellison attended Scott's campaign announcement Monday in South Carolina. Ellison, who has a net worth of about $115 billion, sat in a VIP section at the rally. Ellison contributed just over $7 million to various political causes in 2020, including $5 million to the Opportunity Matters Fund and $1 million toward a super PAC that supported Sen. Susan Collins, R-Maine, as she succesfully ran for reelection, according to OpenSecrets.
Another veteran Republican fundraiser told CNBC that Ellison is already planning to donate up to $10 million to the TIM PAC in the early going of Scott's run. Ellison has signaled to allies that he could give at least between $20 million and $30 million more this cycle, this person said.
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