Ronald Lauder, a billionaire and heir to the Estée Lauder cosmetics empire, has abruptly ceased political donations ahead of the critical midterm elections for Donald Trump. According to The New York Times, Lauder has not made any political contributions to Republicans in his home state of New York this year. His fortune is estimated at approximately 4.9 billion dollars, and his decision comes amid expectations that the GOP may face significant losses in the nationwide elections in November.
If the Democrats gain control of Congress after the elections and initiate impeachment proceedings, it could have serious implications for Donald Trump.
Why Lauder stopped funding
However, the decision by the 82-year-old Lauder to halt political funding does not seem to stem from dissatisfaction with Trump or the Republican Party as a whole. In a statement to The New York Times, he explained that he is redirecting his political donations towards “the development of New York as a city”.
Lauder added: “I intend to continue dedicating my time, resources, and energy to promoting these democratic principles and ensuring that New York remains a place where people, families, businesses, and communities can thrive”.
Source: Daily Beast
