Meet the individuals who write the largest checks in federal elections

2021-04-20 20:30:14

Led by former New York Mayor Michael Bloomberg, America’s political megadonors have plowed $3.4 billion into federal contests between January 2009 and December 2020, in accordance with the report by Concern One.
Bloomberg catapulted to the highest of the checklist after spending greater than $1 billion on his failed 2020 bid for the Democratic presidential nomination. Within the No. 2 spot: Tom Steyer, one other billionaire who additionally ran unsuccessfully for the presidency final yr.
Concern One, which works to scale back the affect of cash in politics, used knowledge compiled by the nonpartisan Heart for Responsive Politics, to unearth the largest political donors within the six election cycles for the reason that Supreme Courtroom paved the way in which for limitless spending in politics with its Residents United resolution.

Concern One CEO Nick Penniman stated the figures spotlight “the alarming affect of only a handful of rich megadonors in our political system.”

“Our authorities cannot be conscious of all People if our elected officers are beholden to the elite donor class,” he stated in a press release.

The highest contributors are all White and not less than eight are billionaires, the researchers concluded. Six of the megadonors principally supported Democrats; the opposite six, Republicans.

Their cash went on to candidates, political events and outdoors organizations similar to tremendous PACs, which might spend limitless quantities to affect elections however are barred from coordinating their spending choices with the candidates they help.

This is the total megadonors checklist and the quantities they contributed:

  • Michael Bloomberg, $1.4 billion. The media and monetary data billionaire spent $1.09 billion on his 2020 presidential bid earlier than dropping out of the Democratic main.
  • Tom Steyer and Kat Taylor, $653 million. Steyer, a California Democrat who turned a billionaire working his personal hedge fund, already was a giant political donor earlier than plowing tens of millions into his personal short-lived bid for the presidency in final yr’s election.
  • Sheldon and Miriam Adelson, $523 million. Sheldon Adelson, a on line casino magnate who died in January, was one of many largest political benefactors in Republican politics. His widow Miriam, a doctor, is a political participant in her personal proper with a web value of greater than $37 billion, in accordance with Forbes.
  • Richard and Elizabeth Uihlein, $138 million. This conservative Illinois-based couple personal Uline Corp., a delivery and packaging firm.
  • Ken Griffin, $107 million. The billionaire proprietor of hedge fund Citadel has backed Republicans.
  • Donald Sussman, $98 million. This hedge funder is a longtime backer of Democratic candidates and causes.
  • Jim and Marilyn Simons, $93 million. Jim Simons is the billionaire founding father of the New York-based Renaissance Applied sciences hedge fund. His and spouse are stalwart funders of Democratic teams.
  • Fred Eychaner, $92 million. This Chicago businessman is a longtime funder of Democratic organizations.
  • Timothy and Patricia Mellon, $70 million. Wyoming-based Timothy Mellon, an inheritor to the Mellon household fortune, emerged in politics as a serious donor to a brilliant PAC backing then-President Donald Trump’s reelection.
  • Joe and Marlene Ricketts, $66 million. Republican Joe Ricketts is the founding father of TD Ameritrade. Members of the Ricketts household personal the Chicago Cubs.

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