- Ohio Sen. JD Vance held a fundraising event in Palo Alto hosted by BitGo CEO Mike Belshe.
- Vance, a former VC, has the backing of influential tech execs, including Elon Musk.
Ohio Sen. JD Vance has been fundraising in Silicon Valley.
Vance, a former venture capitalist and Donald Trump's running mate for the 2024 presidential election, returned to the Bay Area on Monday for a fundraising event at BitGo CEO Mike Belshe's Palo Alto home.
Guests were asked to pay $3,300 to attend the dinner reception, $15,000 for a photo with Vance, or $25,000 to participate in a roundtable, according to multiple reports. Couples could pay $50,000 to be part of the event's host committee.
#JDVance returns to his Silicon Valley donor circle tonight for a fundraiser in Palo Alto. He's got deep-pocketed pals and mentors here.(Just in case you find a few spare thousand under your couch cushions...) pic.twitter.com/2FkqfW2I47
— Doug Sovern (@SovernNation) July 29, 2024
More than 100 people attended the event, an unnamed source told NBC Bay Area.
Vance already has high-profile backers in the tech industry, including former PayPal exec David Sacks and Tesla CEO Elon Musk.
The two reportedly joined a secret lobbying campaign that called up Trump to advocate for Vance.
Former PayPal CEO Peter Thiel has also played a role in helping Vance's career take off.
Thiel gave Vance $15 million for his 2022 campaign in Ohio — the largest donation ever given to one Senate candidate, Politico reported.
Some in Silicon Valley hope Vance can further the tech industry's interests in DC, especially when it comes to crypto.
With Vance by his side, Trump has already said he planned to be the first "crypto president" in an attempt to contrast himself with some of the Biden administration's attempts to regulate the industry.
However, since US President Joe Biden pulled out of the race, many prominent Silicon Valley figures have enthusiastically backed Vice President Kamala Harris.
Box CEO Aaron Levie previously told Business Insider that Harris' entrance into the race has shifted momentum in the tech industry.
Several tech execs hope Harris' close ties to the tech community and stance on innovation will turn the tide in Silicon Valley against Vance and Trump.