Timothy Mellon is an inheritor to the Mellon banking fortune. That fortune was first established by Timothy’s grandfather, Andrew Mellon and his great-uncle Richard again within the late 1800s. Later Mellon heirs considerably elevated the household fortune over the a long time.
Timothy is a significant Republican donor. Mellon was additionally one of many high donors to former President Donald Trump’s 2020 reelection bid. He donated $20 million to the tremendous PAC America First Motion in assist of Trump’s reelection. In simply the previous three years, Mellon has donated $30 million to the Home GOP Tremendous PAC and $30 million to the Senate Management Fund in assist of electing Republicans to the U.S. Senate. He is additionally apparently a giant supporter of the Texas border wall.
As was first reported by the TexasTribune, Timothy, who’s from Wyoming and has no apparent direct ties to Texas, has donated 98% of all the cash privately increase to fund Texas’ border wall. Timothy calls Wyoming residence and his firm, the transportation holding firm Pan Am Techniques, is predicated in Portsmouth, New Hampshire.
Texas Governor Greg Abbott has appeared to the personal sector to assist constructed a wall alongside the border between Texas and Mexico. Abbott’s fundraising drive wasn’t precisely a runaway success at first. By mid-August, two months after launching the fundraising marketing campaign, 12,000 folks had donated a complete a mixed $1.25 million. Then magically the quantity jumped to a bit greater than $54 million. Because it seems, that soar was totally because of Timothy Mellon who got here together with a $53 million reward to the state of Texas. In different phrases, Mellon financed 98% of the whole quantity raised thus far.
The Mellon Banking Dynasty
Timothy Mellon comes from one of many wealthiest households in American historical past. His grandfather Andrew W. Mellon (1855-1937) was value round $350 million on the time of his loss of life. His uncle Richard B. Mellon (1858-1933) was Andrew’s enterprise associate. He was additionally value round $350 million on the time of his loss of life. After adjusting for inflation and bearing in mind the relative buying energy of their cash on the time, they had been each among the many 15 richest Americans of all time.
Their father Thomas Mellon immigrated to Pittsburgh from Eire in 1818 and have become a decide. He then began a financial institution together with his sons known as T. Mellon & Sons.
Andrew and Richard made a small fortune after investing in an inventor named Charles Corridor who had developed a brand new solution to make aluminum. The companions created the Pittsburgh Discount Firm which ultimately grew to become the Aluminum Firm of America. They made further investments in metal processes and different supplies. When World Battle 1 broke out, their metal investments sky rocketed in worth.
In 1921 Andrew left the household enterprise briefly to develop into the Secretary of the Treasury, after being appointed by President Warren G. Harding.
In the present day the prolonged Mellon household is value a mixed $11 billion.