Billionaire Ike Perlmutter, the former Marvel Chairman who was ousted by Disney, remains a pernicious influence within the conservative movement, using his wealth to curry favor with MAGA while waiting with baited breath for the opportunity to stab the movement in the back.
Perlmutter revealed himself as a true enemy of MAGA by being an architect of President Donald Trump’s betrayal in 2024, as he was a top oligarch who backed Florida Gov. Ron DeSantis’ treacherous run for President. Several billionaire donors were outspoken in their preference of DeSantis over Trump, but others were more careful in hiding their complicity in the Trump betrayal.
A careful analysis of campaign finance records shows how money was quietly funneled from billionaire Ike Perlmutter, publicly a Trump supporter, into a DeSantis Super PAC to fuel his presidential ambitions.
A SNAKE IN THE MAGA GRASS
Perlmutter was one of the anti-Trump billionaires who reluctantly got on board with President Trump’s initial campaign for president after initially supporting a competitor. He donated $2 million to a Super PAC supporting Sen. Marco Rubio’s presidential campaign in 2015. When it became obvious Trump was going to be the Republican nominee, Perlmutter used his immense largesse to curry favor with the eventual 45th President.
Perlmutter donated an additional $1 million to a veterans’ fundraiser hosted by Trump in Jan. 2016. Later that year, Perlmutter’s wife, Laura, donated $449,400 to a pro-Trump PAC and she would become part of Trump’s initial inauguration committee. In 2019, Perlmutter and his wife would donate approximately $360,000 to the “Trump Victory Joint Fundraising Committee,” ultimately contributing $1.9 million to Trump’s re-election campaign throughout the 2020 cycle. But like many wealthy GOP donors, the tumultuous political climate would make Perlmutter skittish, and his money found its way into the hands of Trump’s backstabber, DeSantis.
In 2023, the GOP establishment sensed blood in the water with Trump’s various prosecutions and the dismal returns on the 2022 midterm elections. A promulgated narrative emerged that it was time to close the book on MAGA and Trump was too toxic of a figure to lead the Republican party. The Brutus-esque frontman scripted to emerge and give the final death blow to Trump was DeSantis, a man who shamelessly rode Trump’s coattails to narrowly win the governorship in Florida. Some billionaires, such as Ken Griffin, were publicly in favor of DeSantis supplanting Trump. Others sought to hedge their bets in the case that Trump would eventually become the nominee. Playing both sides of the fence appears to be the modus operandi for Perlmutter, hoping that he would not lose stature with Trump if he were to win but also hedging his bets by funding Trump’s potential ouster.
Perlmutter and his wife gave a whopping $2.55 million to the Friends of Ron DeSantis leadership PAC. DeSantis’ team in a shady and perhaps illegal maneuver transferred $82.5 million to the Never Back Down Super PAC, the primary vehicle meant to boost DeSantis’ presidential ambitions. The Campaign Legal Center (CLC) filed a complaint alleging unlawful activity conducted by the DeSantis operation as the campaign, state PACs and federal Super PACs allegedly conducted illegal campaign coordination as part of the big money effort to erase Trumpism from the GOP.
“When candidates and “independent” committees disregard these crucial laws, ordinary Americans suffer: Corporations and ultra-wealthy individuals are able to spend vast sums of money on elections, leading to a government that inequitably prioritizes special interests’ policy goals above the needs of everyday Americans,” the CLC’s complaint read.
As the slush fund transfers were taking place, there was not a word from Ike Perlmutter about the immoral and underhanded way his donations were being used. If Perlmutter were an actual Trump supporter, wouldn’t he have been outraged about his donations being transferred under unethical pretenses from DeSantis’ state-based leadership PAC to his federal Super PAC meant to bolster his presidential ambitions against Trump? There was nary a peep out of Perlmutter as this sordid process was taking place, and silence is an indicator of complicity.
After the anti-Trump sabotage efforts failed, Perlmutter wasted no time trying to buy his way back into Trump’s good graces. Perlmutter and his wife donated $10 million to the Right for America Super PAC to support President Trump’s campaign in 2024. Perlmutter’s substantial donation is an attempt to paper over his complicity in the attempted coup against MAGA. Perlmutter has played the game for decades, giving many millions to dozens of establishment-affiliated Republican entities to curry favor within the crooked political system and hopes his tactics continue to have their effectiveness during Trump’s second term.
Perlmutter is hoping to stay under the radar and feign ignorance to retain influence within Trump world. But ultimately when it mattered most, Ike Perlmutter’s donations were used to fuel the pernicious Benedict Arnold campaign of DeSantis pushed by the political elites to end populism, erase Trump from the history books, and turn the dial back to stale Bush-era politics within the Republican Party.
VICTIMIZING AND DEFRAUDING A WIDOW
Perlmutter’s treachery is hardly limited to the realm of politics. Sandra Bornstein learned about the character of Perlmutter the hard way and at great personal expense. Bornstein, widow of the late Richard Bornstein, took Perlmutter at his word. They were long-time friends, and she sincerely believed that their hand-shake real estate agreement was legitimate.
Meanwhile, Perlmutter was plotting to take Bornstein’s property while she was at her most vulnerable. Following the passing of Richard Bornstein in early 2023, Sandra Bornstein became the sole owner of 2 Sloans Curve Drive, a stunning oceanfront townhouse nestled in one of Palm Beach’s most exclusive enclaves.
Perlmutter had his sights set on the property, but Bornstein was hesitant to sell the home which she and her husband had lived in for many years. Perlmutter schemed up a devious plot which he sold as a “win-win” to Bornstein. He would give Bornstein a $10-million cash payment, take over ownership of the home, but Bornstein would still live there rent free provided she covered utilities.
Bornstein trusted Perlmutter and acquiesced to this agreement, even though it was never formalized in writing. The $10 million was wired, and the deed was transferred. For 60 days, the plan worked as agreed until Perlmutter pulled the rug out from under the widow. In an angry phone call, Perlmutter told Bornstein that he was abruptly selling the property and gave her seven days to vacate the premises. With no written contract to protect her residency, the widow was forced to leave the home she had shared with her late husband. Shortly after her departure, Perlmutter allegedly blocked her phone number, severing all ties.
Two weeks after Bornstein vacated the premises, 2 Sloans Curve Drive was back on the market. The asking price was now $20 million. In the state of Florida, the Statute of Frauds generally requires any interest in real estate—including long-term leases or life estates—to be in writing to be enforceable. By relying on the word of a billionaire friend, Bornstein may have inadvertently signed away her right to the property for half of its current market valuation.
From anyone familiar with Perlmutter’s actions in business and politics, taking advantage of a widow to enrich himself aligns with his self-serving record of deviousness. His treatment of Sandra Bornstein was no aberration. This is who the man is, and why he should be persona non grata within the MAGA movement on a permanent basis.
