Billionaire Trump donor Timothy Mellon spent a record amount backing Republicans in 2024, but his donations have fallen sharply since then, reaching the lowest amount in the last decade. But it was the 2024 cycle that set Mellon apart from virtually every other donor in the country. By this point in the last cycle, Mellon was already establishing himself as one of the GOP's dominant financial figures. During the 2022 election cycle, Musk gave less than $5,000, according to campaign finance records reviewed by Newsweek. Whatever the reason, the numbers show that Mellon is no longer donating at the breathtaking pace that defined the last election cycle.