Parties’ Most Important Donors: The Fantastically Rich

by - October 21, 2014

Dozens of the Republican Party's biggest donors — including several hedge-fund billionaires — helped a super PAC associated with Republican strategist Karl Rove raise more than $11 million in September, new filings show. Elliott Management's CEO Paul Singer contributed $1.25 million to American Crossroads last month, according to the group's report with the Federal Election Commission. Other hedge funders writing big checks: Citadel Investment Group's Kenneth Griffin and Tiger Management's Julian Robertson, who contributed $700,000 and $500,000, respectively.

Source: Billionaires boost Rove-affiliated super PAC

New fund-raising tallies filed by two leading “super PACs” show just how dependent each party’s Senate candidates have become not just on rich donors, but on an incredibly small number of incredibly rich donors. Take the Senate Majority PAC, the Democratic group founded by former aides of the Senate majority leader, Harry Reid. The PAC has led all outside groups on behalf of Senate Democrats in their battle to hold on to the Senate. Through the end of September, the group had raised about $47 million. About half of it, $23.1 million, came from just 16 people or corporate entities they control. About $11 million came from labor unions, whose contributions are drawn from members’ dues and contributions. Who are these big donors? The biggest is Tom Steyer, the retired hedge fund billionaire and climate change activist, who also runs his own super PAC. He has given about $5.5 million to the Senate Majority PAC.

Source: 2014 October 21 - First Draft. Political News, Now. - NYTimes.com

The Democratic Party’s top super PAC disclosed more than $9.2 million in September contributions on Monday, listing a who’s who of wealthy liberal donors, many associated with the secretive Democracy Alliance donor network. New York City businessman Ian Cumming—who “was awarded the largest bonus for any CEO of a publicly traded company in New York” in 2012, according to Crain’s—and a company called HFNWA LLC donated $1 million each.

Source: Top Dem Super PAC Gets Big Boost from Soros, Spielberg, Democracy Alliance | Washington Free Beacon

small band of ultra-wealthy hedge fund managers is pumping last-minute donations into newly organized super PACs to help tip the U.S. Senate to Republicans, new campaign filings show. Bob Mercer, co-CEO of Renaissance Technologies, donated $2.5 million to a new super PAC, Freedom Partners Action Fund, aligned with the conservative billionaires Charles Koch and David Koch. The group has spent $12.3 million in recent weeks to help Republicans in eight hotly contested Senate races. Mercer sent $500,000 late last month to another new PAC, dubbed B-PAC, aiding GOP Senate candidates in Iowa and Michigan.

Source: Super-rich hedge funders race to help GOP take Senate

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