Posts tagged billionaires
Posts tagged billionaires
"Billionaire casino magnate Sheldon Adelson, whose record-breaking campaign spending in 2012 made him an icon of the new super-donor era, is leveraging that newfound status in an escalating feud with industry rivals over the future of gambling.”
In October, Sen. Mitch McConnell’s lawyer will urge the Supreme Court to invalidate contribution limits. It’s no wonder: dozens of the country’s wealthiest people have been filling his campaign coffers.
From a new Public Campaign Action Fund report:
Headline sort of sums it up.
"A New York Republican billionaire and mayoral hopeful is scheduled to host a campaign fundraiser this weekend for Senate Minority Leader Mitch McConnell, R-Ky., The New York Post reports.
"John Catsimatidis will hold the McConnell event Sunday night in his Central Park apartment on Fifth Avenue, Post reporter Beth DeFalco writes."
The image above is based on a a new report from US PIRG and Demos that found:
"The top 32 Super PAC donors, contributing an average of nearly $10 million each, matched all of the money that both President Obama and Mitt Romney raised from small donors combined—that’s $313 million from at least 3.7 million people giving less than $200 apiece.
"When just 32 super-rich donors can counter the voices of millions in the public square, we can’t say we live in a country of political equals."
A hedge fund billionaire who said the wealthy have “insufficient influence” in our political system has donated nearly $2.7 million to federal candidates and committees this election cycle, 50 times what the typical American family makes in a year, according to Public Campaign Action Fund analysis of data from the Center for Responsive Politics.
"Five individuals and couples have contributed more than $10 million each to super PACs, the new independent political groups responsible for the record amounts of outside money gushing through this year’s presidential and congressional elections.
"Together these super-wealthy donors account for 20% of the $644 million raised by super PACs through Oct. 17, a USA TODAY analysis of new campaign-finance reports shows.”
Hedge fund billionaire Ken Griffin donated $500,000 on October 9th to Restore Our Future, the Mitt Romney-aligned super PAC:
He has now given $1.45 million to Restore Our Future this cycle.
Earlier this year, he said that the wealthy have “insufficient influence” in our political system. One has to wonder at what point they have just enough.
"The billionaire George Soros is committing $1 million to Priorities USA Action, the “super PAC” supporting President Obama, two people with knowledge of the decision said Thursday, a significant donation that could help spur further contributions to the group in the closing weeks of the election."
"He had not contributed until now, he wrote, because he opposed the Supreme Court’s Citizens United decision in 2010, which paved the way for super PACs and unlimited money in politics. But since then, Mr. Soros wrote, he had become ‘appalled by the Romney campaign which is openly soliciting the money of the rich to starve the state of the money it needs to provide social services.’"