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Despite competing political narratives, the ultra-rich are bankrolling the November election on both sides.

Forbes now counts 28 billionaires, with a total net worth of $280 billion, who have given more than $1 million to groups supporting the Democratic nominee. Former New York City mayor Michael Bloomberg and LinkedIn cofounder Reid Hoffman are the Democrats’ biggest megadonors, each contributing more than $20 million apiece to groups backing Vice President Kamala Harris.

Still, the billionaires’ donations combined are less than the $125 million given to groups backing Trump by just one billionaire, Timothy Mellon, not to mention others, like Linda McMahon (who has given $16 million) and Miriam Adelson ($5.8 million).

One notable billionaire has been absent so far: PayPal cofounder Peter Thiel, though Republican vice presidential nominee JD Vance appealed to the onetime Trump backer yesterday to “get off the sidelines.”

Spencer Platt/Getty Images

The Dow Jones Industrial Average reached a record high Thursday, while other indexes were largely flat, all while AI darling Nvidia faltered despite a positive earnings report. Nvidia’s lack of an impact on indexes Thursday may have to do with the tech company’s options representing far less of the S&P 500’s single-stock options than in May and June, per Bloomberg.

Inspections at the Boar’s Head plant in Virginia linked to the largest listeria outbreak in more than a decade revealed black mold, mildew, bugs and unsanitary conditions that may be responsible for nine deaths and dozens of hospitalizations linked to the outbreak. Operations at the plant have been suspended, but it’s unclear whether Boar’s Head will be penalized by the U.S. Department of Agriculture for the dozens of health and safety violations at the location.

Concerns are brewing over another chip shortage that could be coming as China has decided to restrict the supply of key materials in response to U.S. export controls. China produces 98% of the global supply of gallium, according to the Financial Times, and 60% of germanium, two materials used to manufacture semiconductors.

Photo Illustration by Emily Scherer for Forbes; Photos by Getty........

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