The 2024 campaign was already shaping up to be the most expensive election of all time

but now several high-profile billionaires are dumping massive amounts of money into the

presidential race. Laura Burone Lopez has the details of who these donors are and what their impact might be.

Thanks, William.

New reporting shows two notable donations.

Businessman Timothy Mellon gave 50 million dollars

to a Donald Trump-aligned super PAC

the day after the former president was convicted of 34 felonies.

And former New York City Mayor Mike Bloomberg, who challenged Joe Biden

for the Democratic nomination in 2020, is spending 20 million to help the President's

re-election effort. The campaigns themselves are reporting huge

fundraising halls as well. In May the Biden team raised 85 million dollars but was

outshadowed by the Trump team, which reported raising 141 million.

Let's explore where the money is coming from and where it's being spent with Anna

Masolia, editorial and investigations manager at Open Secrets.

Anna, thanks so much for being here.

Thank you so much for having me.

The contributions for mega donors like Mike Bloomberg and Timothy Mellon

are eye popping.

How unusual are these donations and what do you think it'll do for the campaigns?

Well multi-million dollar donations to Super PACs are becoming run-of-the-mill at this point,

but the size of these donations and the sources,

...