Of the roughly $9.3 billion total that’s expected to be spent during the current election cycle, 43 percent is slated to come from big-money donors like billionaires.
Unfortunately, the billionaire leading the pack is radical far-leftist George Soros.
“The largest contributor of the current cycle has been George Soros, a prolific billionaire liberal donor who earned his fortune in the financial sector and chairs his investment firm Soros Fund Management. Soros has funneled more than $128 million to exclusively Democratic candidates and left-wing organizations since the cycle began,” Fox Business Network reported Thursday.
“Most of the money came in a single $125 million contribution in September 2021 to the Democracy PAC, a liberal super PAC he created in 2019, according to Federal Election Commission (FEC) data. The super PAC has been linked to Democratic Party PACs and PACs associated with a variety of left-wing causes like racial justice and abortion,” the network added.
Billionaire Soros has poured millions in dark money to back defund police efforts https://t.co/5ceyvGQYgX
— American Wire News (@americanwire_) December 9, 2021
Soros has also made “maximum donations” to several swing state Democrat candidates and gave “millions of dollars directly to the Democratic National Committee and state Democratic parties.”
Sadly once again, Soros isn’t the only billionaire funneling money into the hands of the American far-leftist. So is LinkedIn co-founder Reid Hoffman, Netflix CEO Reed Hastings, cryptocurrency exchange FTX founder Sam Bankman-Fried, Farallon Capital Management founder Tom Steyer, Newsweb Corporation founder Fred Eychaner, and Lone Pine Capital founder Stephen Mandel.
Similarly, “Steve Ballmer, the former Microsoft CEO, and Michael Bloomberg, the former New York City mayor and founder of Bloomberg who ran for president in 2020 as a Democrat, have donated more than $5 million each exclusively to Democrats,” according to FBN.
The good news is that right has its own share of billionaires like Citadel Securities founder Kenneth Griffin and Uline founder Richard Uihlein.
“Griffin has pumped about $57.6 million into Republican political causes during the 2021-2022 cycle, according to FEC records. His largest contributions have landed at the Congressional Leadership Fund (CLF), a super PAC that aims to elect Republicans to the House. He has given $25 million to the CLF since 2021,” Fox Business Network notes.
“Griffin has also donated to GOP groups the Senate Leadership Fund, Rick Scott Victory Fund and the National Republican Senate Committee. He has given to individual Republican candidates, including Sen. Johnson, Sen. Tim Scott, R-S.C., Herschel Walker, who is running for Senate in Georgia, and House Minority Leader Kevin McCarthy,” according to FBN.
Meanwhile, Uihlein and his wife “have pushed another $57.1 million to Republican candidates and PACs during the current cycle, FEC records showed.”
Nike CEO Phil Knight, Thiel Capital founder Peter Thiel, Susquehanna International Group managing director Jeff Yass, Wynn Resorts co-founder Steve Wynn, Blackstone Group CEO Stephen Schwarzman, and Elliott Investment Management president Paul have reportedly also given millions to Republican candidates.
But there’s more good news.
“Republican candidates for Senate, many in high-profile races, benefitted from more direct billionaire contributions than their Democratic counterparts. … These include Sen. Ron Johnson of Wisconsin, Blake Masters of Arizona, J.D. Vance of Ohio, Sen. Lisa Murkowski of Alaska and Herschel Walker of Georgia,” USA Today notes.
The fight for control of the House and Senate this year comes partly down to money. Who contributed this election and where did the money go?
— USA TODAY Politics (@usatodayDC) November 3, 2022
This is highly important as the GOP is itching to retake both the House AND Senate in next week’s midterm elections.
Also, former President Donald Trump has been involved as well.
“Save America, created right after Trump lost the 2020 election to raise money to fight election fraud, gave money to 28 different candidates for state office, with many of those in Michigan, Arizona, and Georgia, states where closely-watched congressional races will take place next week. Save America also backed candidates for 131 seats in the House and 18 seats in the Senate,” according to USA Today
Save America also recently transferred $20 million to Trump’s other PAC, Make America Great Again Inc., which in turn used the money “on TV ads in several crucial Senate races, including those in Pennsylvania, Ohio, Georgia, Arizona and Nevada,” according to The Wall Street Journal.
New FEC filing: Donald Trump’s Save America PAC, which was sitting on about $100M, transferred $20M to MAGA Inc., which can spend unlimited amounts helping candidates in the next 2 weeks.
— Luke Rosiak (@lukerosiak) October 28, 2022
The latest set of donations came after the former president received criticism for not doing enough to help Republicans win in the midterm elections.
Despite his wealth, Trump is projected so spend less this election cycle than Senate Minority Leader Mitch McConnell’s Senate Leadership Fund.
“The former president’s Make America Great Again Inc. super PAC has, through Wednesday, reported a total of $8.5 million spent for Republican Senate candidates — barely 4% of the $204.5 million that McConnell’s Senate Leadership Fund has spent,” HuffPost, a left-wing outlet, reported last week.
To be fair, Trump isn’t on the ballot this year.
Writers and editors can be contacted at [email protected] with feedback, tips, or corrections.
V. Saxena is a staff writer with a decade of experience as a professional writer, and a lifetime of experience as an avid news junkie. He holds a degree in computer technology from Purdue University. Saxena also contributes to BizPac Review.
Comment
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.