ZACH'S SUBSTACK

Trump's Second Favorite Island (With Another List)

Republican donors funnel millions through Guam, spotlighting the need for campaign finance reform
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Guam.

Guam
GUAM

A U.S. territory in Micronesia that 168,000 people call home.

A World War II battleground in the Western Pacific.

An island known for its warm climate, beautiful beaches, and rich Chamorro culture.

A beach in Guam. Photo by Aljhon Umlas on Unsplash

A U.S. territory in the Western Pacific.

Turns out Guam also is a paradise for the Republican Party.

Check out this chart:

Chart showing Republican Party of Guam donor totals

Fact: The Republican Party of Guam had one donor who gave $48 in 2023.1

Fact: The Republican Party of Guam had 193 donors who gave $1,930,000 in 2024.2

So, in 2024, 193 people donated $10,000 to a political party located 6,000 miles away from the mainland United States on an island that can’t vote for President.

ONE YEAR APART
$48
2023 • one donor
THE DISTANCE

6,000 miles away.

Scroll across the Pacific.

Mainland United States

What’s going on here? Why did all these people donate to GOP Guam?

As you probably guessed, it’s not because they wanted a GOP majority on a remote island. Let’s take a deeper dive.

February 14, 2024

On February 14, 2024, Jamie McCourt – former LA Dodger CEO, high profile divorcee, and Trump mega-fundraiser – donated $10,000 to GOP Guam. (McCourt is an interesting character, check out this podcast).3

McCourt’s was the first of 193 donations of $10,000 to the Republican Party of Guam in 2024. $10,000 is the maximum amount a single person can donate to a state party.4

193 IDENTICAL CONTRIBUTIONS
193 × $10,000
$1,930,000

All of the 193 donors, including McCourt, donated to GOP Guam through “Trump 47 Committee Inc.,” a joint fundraising committee.

What is the Trump 47 Committee Inc.?

Trump 47 Committee Inc. is a joint fundraising committee (JFC) – an entity that facilitates donations to many smaller political committees to fundraise all at once. Think of it as a group tip jar.

Per The Washington Post, the maximum legally allowed donation to the Trump 47 Committee Inc. was $814,600. And here’s how that $814,600 was required to be allocated:

Trump 47 Committee allocation graphic

The first $3,300 of any contribution went to Trump’s primary campaign, the next $3,300 went to Trump’s general election campaign, the following $5,000 went to Save America PAC, then up to $413,000 was allocated to the RNC.

Based on the above chart, in order to donate to a state party like GOP Guam through the Trump 47 Committee Inc., you would have to donate the maximum amounts to Trump’s campaign, Save America PAC, and the RNC first. This adds up to $424,600.

Follow one $10,000 allocation.
DONOR /
TRUMP 47
GOP
GUAM
RNC
$10,000
The contribution enters through Trump 47.

Suspicions Confirmed

Knowing that there was some “other” reason why 193 people donated 10,000 to the Republican Party of Guam, I followed the money and found that 97.83% of the money that was donated to GOP Guam was subsequently transferred to the RNC.

This is technically legal because unlimited transfers between political party committees is allowed.

FEC contribution limits
FEC contribution limits for 2025-2026 federal elections.

FEC contribution limits for 2025-2026 federal elections.

That’s right, almost all of the money that was “supposed to go” to the Republican Party of Guam went right back to the RNC instead.

FEC data showing GOP Guam receipts and transfers
97.83%
Follow the filing.

FEC data showing the amount of money GOP Guam received in 2024 (Total Federal Receipts), and how much money GOP transferred to the RNC in 2024 (Transfers to Affiliated Committees). When you divide the two numbers, you get 0.9783, meaning that 97.83% of all the money GOP Guam received in 2024 was transferred to the RNC, the only affiliated committee to receive funds from GOP Guam.

Watch the money move.
193 DONORS
GOP
GUAM
RNC
$1.93M 193 contributions of $10,000 each

Wait. But why didn’t they just donate that money to the RNC in the first place?

Well, turns out that all of the people who donated to the Republican Party of Guam ALREADY REACHED THE LEGAL CONTRIBUTION LIMIT TO THE RNC.

Again, per the chart above, they were already forced to max out their donations to the RNC in order to be eligible to donate to GOP state accounts when donating through the JFC.

So essentially, through this loophole, 193 donors were able to funnel an extra $10,000 each to benefit the RNC. That’s $1,930,000 they weren’t supposed to give!

Legal or not, it is pretty obvious that this isn’t right. Donation limits on national parties like the DNC and RNC are necessary because they prevent wealthy donors from exerting influence over national parties, which shape policies and impact the lives of Americans.

Without donation limits, anyone with enough money can buy influence over either party’s policies and candidates.

Politics turns into a pay-to-play game.

And, well, judging by the list of donors who signed up for this scheme, it looks like it already has. The 193 donors include the following categories:

THE LIST

The 193 donors include the following categories:

Cabinet Members and Political Appointees

Billionaire Linda McMahon, appointed United States Secretary of Education

Billionaire Kelly Loeffler, appointed the 28th Administrator of the U.S. Small Business Administration

Billionaire Scott Bessent, appointed US Secretary of the Treasury

Billionaire David MacNeil, appointed Ambassador at Large for Industrial and Manufacturing Competitiveness

John Phelan, appointed Secretary of the Navy

Jacob Helberg, appointed Under Secretary of State (Economic Growth, Energy, and the Environment)

Josh Lobel, put on the President’s Intelligence Advisory Board

Billionaire Elon Musk, former head of DOGE

Billionaire Miriam Adelson, Trump’s nominee for US Antisemitism Envoy

John Figueroa, appointed Senior Advisor to the Secretary of Veterans Affairs

Billionaire Cody Campbell, appointed co-president of Trump’s college sports commission

Bryce McFerran, appointed Chief Banking Officer of EXIM

Dan Negrea, Former Special Representative for Commercial and Business Affairs

Near billionaire Tracy Bisignano, wife of Frank Bisignano, commissioner of the United States Social Security Administration

Ambassadors

Duke Buchan, nominated by Trump as Ambassador to Morocco

Benjamin Leon, nominated by Trump as Ambassador to Spain

Nicole McGraw, nominated by Trump as Ambassador to Croatia

Dan Newlin, appointed Ambassador to Colombia

Howard Brodie, appointed Ambassador to Finland

Billionaire Charles Kushner, appointed Ambassador to France

Joe Popolo, nominated as the Ambassador to the Netherlands

Billionaire Melinda Hillebrand, nominated as Ambassador to Costa Rica

Michael Kavoukjian, nominated as Ambassador to Norway

Peter Lamelas, nominated as Ambassador to Argentina

Billionaire Tilman Fertitta, appointed US ambassador to Italy and San Marino

John Blanchard, husband of Lynda Blanchard, nominee for United States Ambassador to the United Nations’ Agencies for Food and Agriculture

Billionaire Kenneth Howery, nominated by Trump as Ambassador to Denmark

Billionaire Jamie McCourt, appointed Ambassador to France and Monaco in Trump’s first term

Billionaire Woody Johnson, appointed Ambassador to the UK in Trump’s first term

David T. Fischer, appointed Ambassador to Morocco in Trump’s first term

John Rakolta, appointed Ambassador to the UAE in Trump’s first term

Barbara Hale Thornhill, appointed Ambassador to Singapore in Trump’s first term

Billionaire Kelly Craft, appointed Ambassador to the United Nations in Trump’s first term

Kennedy Center Board Appointees

Billionaire Jose Fanjul, whose wife, Emilia May Fanjul, appointed as a Member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts

Billionaire Patricia Duggan, appointed as Member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts

Billionaire Steve Wynn, whose wife, Andrea Wynn, appointed as Member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts

Billionaire Lynnette Friess, appointed as Member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts

Billionaire Kelcy Warren, appointed as Member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts

Billionaire Carl Lindner, appointed as Member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts

Billionaire Laura Ricketts, appointed as Member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts.

Jennifer Fischer, appointed as Member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts

Crypto Investors

Billionaire Cameron Winklevoss, Crypto Summit Attendee

Billionaire Tyler Winklevoss, Crypto Summit Attendee

JP Richardson- Crypto Mogul

Gary Cardone- Crypto Mogul, brother of billionaire Grant Cardone

David Bailey, Trump’s Crypto Advisor

Miscellaneous Billionaires

Robert Mercer- Hedge Fund, AI billionaire

Roger Norman- Real Estate billionaire

Diane Hendricks- Founder of ABC Supply

Kenny Troutt- Founder of Excel Communications

Andrew Beal- Founder of Beal Bank

Willis Johnson- Founder of Copart (vehicle salvage and auction company)

Daniel Snyder- Former owner of the Washington Commanders

JW Childs- Founder of JW Childs Associates

Lee R Anderson- Founder of API Inc.

Jesse Powell- Founder of Kraken (cryptocurrency exchange)

William Foley- Lawyer billionaire

John Catsimatidis- Gristedes and D'Agostino Supermarkets billionaire

Keith Wold- Johnson and Johnson inheritor

George Bishop- Oil billionaire

Bryan Sheffield- Oil billionaire

Thomas Peterffy- Founder of Interactive Brokers

Bijan Tehrani- Founder of Stake (gambling company)

Denny Sanford- Founder of First Premier Bank

Christopher Goldsbury- Pace Foods billionaire

Jeff Ishbia- Billionaire in Ishbia family

Thomas Siebel- Founder of Siebel Systems

Robert Bigelow- Founder of Bigelow Aerospace

Alex Cline- Son of Coal billionaire Christopher Cline

Cynthia Fisher- wife of billionaire Jim Koch

Jared Kushner,- Trump’s son-in-law and future billionaire per Forbes

Jeffrey Sprecher- Intercontinental Exchange billionaire

Geoffrey Palmer- Real Estate billionaire

John Ricketts- Founder of TD Ameritrade

Phil Ruffin- Circus Hotel and Casino billionaire

John Paulson- Hedge Fund billionaire

Harold Hamm- Oil billionaire

Jimmy John Liautaud- Founder of Jimmy John’s

Bernard Marcus- Founder of Home Depot

Marc Andreessen- Founder of Andreessen Horowitz

John Schnatter- Founder of Papa John’s

Arthur Demoulas- MarketBasket CEO, member of billionaire family

Robert Duggan, former CEO of Pharmacyclics

Daniel Friedkin, owner of the Premier League club Everton

Phillip Frost, former CEO and chairman of OPKO Health, Inc.

Herbert Wertheim, founder and president of Brain Power Incorporated

Gary Schottenstein, member of the Schottenstein family

Nancy Hiles, wife of billionaire and criminal Marcus Hiles

Oil Moguls

Carol Adams- Oil And Gas Investor

Syed Anwar- Oil Mogul

Harold Courson- Oil Mogul

Alex Cranberg- Oil Mogul

Margaret Molleston- Oil Mogul

Adam Beren- Oil Mogul

Charles Saulsbury- Oil Mogul

Vicki Hollub- Oil Mogul

Doug Scharbauer- Oil Consultant

Hushang Ansary- former Oil Mogul

Assorted Hangers-On

Dana White, who has secured a UFC Fight at White House 2026

Tim Barnard, who is profiting off a pipeline deal threatening pollution in Michigan

Barbara Gaby, Chairman of the Heritage Foundation, the group that created Project 2025

Elizabeth Trump Grau, sister of Donald Trump

Ann Pallan, wife of Robert Trump

Deborah Magowan- Wife of Former SF Giants Owner Peter Magowan

John Breslow- Former Hockey Minority Owner

Veronica Atkins- wife of Robert Atkins, founder of the Atkins diet

Carl Barney, Former For-Profit College Owner

David Marcus- Former President of PayPal

Peggy Johnson- Director of Fox Corporation

Trevor Milton, pardoned by Trump after being found guilty of securities and wire fraud

Chelsey Milton- Wife of Trevor Milton

Mark Determan, Federal Prosecutor at U. S. Department of Justice

Mike Hodges (learn more about him here)

Brian Colleran, founder of an Ohio nursing home tied to a Medicaid false claims case

Daniel Parker, business partner of Brian Colleran

You can find the full list of donors here.

So what’s the takeaway? It’s hard to see this list and not think about all of the people Trump put in government roles.

It’s hard to see this list and not think about how all these donors have already benefited massively from Trump’s policies favorable to the crypto and fossil fuel industries.

It’s hard to see this list and not think about all of Trump’s policies favorable to billionaires.

And it’s hard to see this list and not think about Mr. Milton’s pardon.

This loophole may have had a reason to exist, but it wasn’t this.

This entire situation also proves that America needs campaign finance reform in order to stop billionaires and insiders from buying influence.

It’s clear that the current laws designed to separate money and democracy are weak. The practice of unlimited donation transfers between state and national parties undermines the purpose of having donation limits in the first place.

TRUMP'S SECOND FAVORITE ISLAND

Follow the money.

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