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Just two dozen ultra-wealthy donors are behind a surge of million-dollar contributions to the new breed of political committees during the presidential campaign.
Millionaire and billionaire executives have unlocked their personal bank vaults to write seven-figure checks to support the campaigns of Democratic President Barack Obama and the Republicans vying to oppose him: Mitt Romney, Rick Santorum, Newt Gingrich and Ron Paul.
More than half of the $60 million collected so far by the new group of independently run super political action committees supporting presidential candidates came from just 24 wealthy Americans, according to an Associated Press review of financial reports filed by the campaigns. The super-sized checks amount to $33 million, and in some cases, the contributions of $1 million or more represent most of the money that several super PACs have collected.
See related: Santorum 'super' PAC returned big foreign donation
These outsized donations — more than 40 times the amount ordinary Americans can give directly to a politician — are allowed under the landmark 2010 Supreme Court ruling in the Citizens United case.
The ruling made it possible for super PACs to raise and spend unlimited sums to support political campaigns. The groups must legally remain independent from the candidates they support, but many are staffed with former campaign aides with intimate knowledge of the campaigns' strategy.
Freed by the Citizens United case and other rulings that allowed unlimited donations with minimal disclosure, the mega-donors are pumping unprecedented amounts of cash to favored candidates. The lavish gifts are stoking negative campaign ad wars and making mega-donors essential to the tactics and operations of the super PACs.
"It's just so much easier for these people to make large contributions and play a much more prominent role than we've tended to see," said Brendan Glavin, a researcher with the Campaign Finance Institute, a Washington-based nonpartisan think tank.
Here's a list of each presidential candidate's wealthiest supporters:
—Even among seven-figure donors, nobody approaches the $11 million that Las Vegas casino billionaire Sheldon Adelson and his family have given to Winning Our Future, the group supporting former House Speaker Gingrich, which has $13.1 million in total contributions. Adelson gave $5 million; his wife, Miriam, another $5 million. The rest came in smaller, but still sizeable amounts from Adelson's daughters, Sivan Ochshorn and Yasmin Lukatz, and Lukatz's husband, Oren. Gingrich has said Adelson and his family support his strong pro-Israel statements. Adelson has important business interests in China, and his casino is under federal investigation by the Justice Department and a civil probe by the Securities and Exchange Commission for possible violations of the Foreign Corrupt Practices Act. The company denies wrongdoing.
—Winning Our Future also gained $1 million from Texas billionaire Harold Simmons, a longtime Republican donor who was a key funder of the Swift Boat veterans' attacks on Democratic presidential candidate John Kerry in 2004. Simmons, whose interests range from energy to chemicals, so far has donated $12 million — both personally and through his firm, Contran — to American Crossroads, the Republican-leaning super PAC co-founded by Republican strategist Karl Rove.
—The co-founder of PayPal and an early investor in Facebook, Peter Thiel, has given $2.6 million to Endorse Liberty, the group supporting Texas Rep. Paul. Nearly 70 percent of the group's money comes from Thiel, a Silicon Valley investor. An ardent supporter of Libertarian causes, Thiel has donated to gay rights and religious organizations and also helped fund the Committee to Protect Journalists. His Facebook investment alone is now reportedly worth $1.3 billion.
—The chief executive at DreamWorks Animation, Jeffrey Katzenberg, has given $2 million to the group supporting Obama's re-election, Priorities USA Action, which accounts for nearly half the group's $4.5 million total. Katzenberg has hosted fundraisers for Obama and has been a longtime funder of liberal and Democratic Party causes.
—Hotel magnates and brothers Bill and Richard Marriott have given $1.5 million to Restore Our Future, the group supporting former Massachusetts Gov. Romney. Bill Marriott heads Marriott International, while Richard Marriott heads offshoot Host Hotels & Resorts. Romney, whose first name is Willard, was named after the Marriotts' father, who was close friends with Mitt Romney's father, George Romney. Mitt Romney also served for years on Marriott's board of directors.
—Julian Robertson, the head of Tiger Management Corp., a major New York-based hedge fund, gave $1.3 million to Restore Our Future. Robertson's son is also a Romney donor, and both have co-chaired Romney fundraisers.
—Other rich executives who gave at least $1 million to help Romney's campaign include Paul Edgerly, a managing director at Bain Capital, and his wife Sandra, who each donated $500,000; Edward Conard, a former Bain executive; Mormon businessman Frank VanderSloot; Paul Singer, founder and CEO of Elliott Management Corp., a top New York-based hedge fund; John Paulson, head of Paulson and Co., another major hedge fund; Bob Perry, a Houston real estate developer; Tulsa businessman Francis Rooney; Robert Mercer, co-chief of Renaissance Technologies, a New York hedge fund; and William Koch, head of Oxbow Carbon, LLC, a fossil fuel processor and mining firm.
—The group supporting former Pennsylvania Sen. Santorum — the Red, White and Blue Fund — collected nearly all its $2.8 million so far from just two major, $1 million contributions. Foster S. Friess, a mutual fund entrepreneur and conservative advocate, is a major funder behind the Daily Caller, a conservative web news aggregator, and has his own website advocating free enterprise and warning about militant Islam. Friess opposed the Obama administration's health care program and gave $100,000 to statewide Republican races and causes in 2008.
—The pro-Santorum group's other $1 million contribution came from William J. Dore, president of a Louisiana energy and real estate firm. Dore backed New Orleans Mayor Mitch Landrieu and other state Democrats, but he has also funded Republican politicians, as well as charities in Louisiana and Texas.
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Funny msnbc does not mention RonPaul but once.
I guess poor RON only knows one person that rich. The others must have a phone book full of super rich friends.
Uh, Ted? You might want to read the article again. Paul has his own mysterious billionaire donors. So much for the "outsider" image his sheep insist on thrusting upon us all...
It's because Dr. Paul is actually campaigning on the issues we actually care about, and not running around playing the "my God is better than your God", or "I'm a better Christian than you" game. People don't want to hear that, they like the drama.
Tina Brown said it best, when she made the comment that instead of the candidates debating, it should be their millionaire, Super Pac, backers. The politicians are merely the puppets on their strings. Whoever gets elected is going to owe, some shady, comic book type, secretive millionaire, for their position as the most powerful human on the planet.
Think about it. It's terrifying. Who's more dangerous, the person who's out front campaigning, or the person who owns the person campaigning, and who's controlling that person while hiding out in some unknown, underground cave???
Stan Lee couldn't have written this better. Money only equals speech and corporations only equal persons, if we live in an Oligarchy.
Folks, I don't wanna live in an Oligarchy.
Actually it's because most of Paul's donors are everyday citizens, and military servicemen/women.
Funny how one big donor to two of the campaigns, Obama's as well as Romney's isn't mentioned at all, Goldman Sachs...
Sara,
I don't want to live in a socialist country.
Wake,
Well good thing you don't. If you think you do, you need to retake Government 101.
Call me when the government comes to wrest your personal property from you. Call me, when you get in your government provided transportation, to take you to your government owned grocery store, to buy groceries with your government alloted certificate, and those groceries were picked by government workers, on government owned farms, yada, yada, yada.
Until than, I highly suggest you look into the differences between social programs and socialism, and quit whining about your taxes, because I'm sure that's what's coming next.
Sarah - the government does it each pay day. To those of us that work...
Like I said above, pay your taxes and stop whining. Those taxes go to social programs. That's a far cry from the government owning EVERYTHING and taking EVERYTHING.
Life is pay to play. At least if you want to live in a country that has things like roads, schools, police, military, and every other thing you benefit from. Those who whine about it and call paying taxes comparable to it, sound like petulent children.
Comparing paying taxes to socialism is an insult to every single person who suffers under the oppression of a government that actually is socialist.
Sarah, sweety, I'd rather not pay taxes (like 45% of the filers) and whine about how I'm not getting enough from the Obummer guberment.....
"Life is pay to play"????? Who are you kidding, sweety! Not for the soon to be majority of government tit suckers...
Can you even spell GREECE?
Jello heads!
Wow only 1 major donor for Ron Paul, good thing he has a majority backing of the military and a huge amount of small donors helping him, ya know like how a real president should be funded. The rest (Obama included) sellouts!
Sloppy,
Now there's a unique tactic, condescending to me by calling me "sweety". Yup, you're the first person who has ever thought to do that.
Question, honey, are we a socialist country? It's easy, yes or no?
Otherwise, your OPINION on Obama and "government tit suckers" is merely your opinion.
Jeez, and you all call poor people the "Entitlement Class".
More like a fascist country, where the government works closely with big business therefore decimating the middle class. Just look at Obama's donors from last election cycle and this one coming up.
Ron Paul 2012, the only presidential hopeful who will turn this fascist country into a true Republic again.
Well, considering you have the option of voting him out at all, that about rules out Fascism.
I agree with you, however, about the big money donors. The marriage of money of any kind, be it non-profit like the Unions and NRA, corporate like GE and Goldman Sachs, or individual like Friese or Adleman, with politics, is an unholy alliance.
It allows special interests and the wealthiest among us, to buy the people making and enforcing the laws, ergo we have all of the consideration and power concentrated among the richest citizens and largest non-profits or corporations.
Like an oligarchy. The only thing working in our favor right now is that we aren't either Socialist or Fascist, and can still exercise our rights without an all out freaking revolution or coup. It just takes enough of an outcry to remind those in power that this is bunk.
There are over 20 Constitutional Amendments being written, right now, to challange money in politics. It can be done, we just need to stop screaming "Socialist" at each other long enough to do it.
If Obama, Maxine Waters and Bernie Sanders get there way we would definitely have a socialist country. The Government is already on the way to socializing 1/9th of the entire economy (aka health care). The problem with socialism is eventually you run out of other peoples money. Social Security and Medicare are causing a generational debt crisis. We must stop the overspending and borrowing.
Sara,
What do you think the debt ceiling should be? $20Trillion? $50Trillion? $100Trillion? I already know you will not answer me. There is a giant pyramid scheme called the US Government spending for entitlement programs.
The citizens and the politicians are using the ballot box to vote themselves a raise!
Wake Up,
You're simply regurgitating paranoid drivel you hear on talk radio. No one's turning this country socialist. How exactly do you think, one or two individuals could accomplish that, seeing as we have things like checks and balances, elections, civil rights??? Please, explain to me the logistics of two congress people fundamentally restructuring our entire government and way of life, thereby oppressing us all.
Second, I think the debt ceiling should be whatever is appropriate to keep our country from defaulting. If you're worried about entitlements, than let's look at it without the haze of paranoia or drama, clouding our vision. Raise the retirement age, and means test. Voila.
It's not about government being too big, and spending too much. It's not about the government being too small, and taxing too little. It's about the government being smart. Too big, and it's inflexible, ergo incapable of meeting the needs of its citizens. Too small, and it's ineffectual, ergo incapable of meeting the needs of its citizens.
And there are some basic functions the citizens need the government to do. Things like infrastructure, education, law enforcement, defense, research and development. Anarchy and a complete lack of social programs and governmental structure doesn't work. Take a look at Somalia.
Furthermore, if you're really concerned about over spending, why not focus on defense. That's where the biggest problem lays. Oh yes, and why not this outcry all of the other numerous times the debt ceiling was raised???
Puh-lease. This is an over dramatized, over simplified, political wedge issue. You probably didn't even know the debt ceiling existed until a year ago, just like I'm willing to bet you have no idea who Saul Alinsky actually is, or what socialism is really like.
You wanna fix this country really? Take a look at money in politics. The politicians are nothing but the middle-men who the insanely rich corporations, non-profits, and individuals utilize in order to sell you their load of bull and keep the status quo in place.
Sara,
I knew you would not answer my question. I have been screaming the last 10 years about the debt ceiling being raised over and over! Bush was out of control with his spending, Obama is just making it worse. Even Obama voted against the debt ceiling being raised when he was in the Senate, but now he is all for it.
Wake,
I did answer your question, quite clearly. There is no set amount we should limit it at, it's about being smart. Work on your reading comprehension.
Here, try again...
So we should just keep raising it until woops, we can't make the payments anymore. Your idea lacks any kind of solutions or ideas. Here is what the debt ceiling should be ZERO 0, zip, nada! It is simple, no responsible government, business, or individual should be in debt $18Trillion
49 states have a balanced budget amendment in their Constitution!
Wake,
Do you read at all before you post????
What about raise the retirement age and means test for entitlements, didn't you pick up on???
And wow, you need to slow down on the drama.
This is a ridiculous over statement. If you were capable of comprehending what I write, you would understand this...
Now, let's see if I can make it simpler for you. The above premise, would negate this irrational fear you have of the debt ceiling. Why??? Because the government would be taxing, spending, and trading, in a SMART manner. Can you really not grasp the concept that it isn't just about spending? That this is way more complicated than a "balanced budget amendment", which by the way is ridiculous because there are things in our world like inflation and expanding/shrinking economies, recessions, globalization, and a whole slew of other things I'm sure you don't understand.
As I asked above, which you so conveniently ignored, why not start with defense spending? That's where most of the waste and expenses are.
Than, let's reform our trade policies, stop China's currency manipulation, take away their MFN status, and stop exploiting their human rights violations. Here's an idea, let's force them into the 21st century instead of racing them back to the 19th.
And you know what that will do??? That will bring back jobs, ergo expanding the tax base and increasing revenues.
Than, let's look at Wall St. and how their interests are misaligned with the the citizens and the only thing they create is debt. They make bazillions, dolling out debt, and no longer even bother investing in innovative new ideas.
And you know what that will do??? That will create more jobs, ergo expanding the tax base and increasing revenues.
Than, will move on to our tax code that resembles Swiss cheese it has so many loopholes in it.
And you know what that will do??? That will create even more revenue.
The only thing standing in the way of that are two SCOTUS decisions, Buckley v Valeo and Citizen's United. Those are the two decisions that allowed moneyed interests to buy our politicians.
It's not about more spending, or less spending, but SMART spending. Not more taxes, or less taxes, SMART taxes. Not more trading, or less trading, SMART trading.
A balanced budget amendment is a simplified solution, used to pander to simple people, in order to distract them from the actual corruption that's occurring, and the actual solutions that would take the power and bazillions the uber rich and politicians are making from their unholy alliance.
Your name is right on, buddy. WAKE UP.
Sarah-3043284 i think i love you. I don't know how many times you've hit the nail on the head and people still can't realize it.
I agree 100% with what you speak.
Wake up now! -
Don't count Washington State in that group of balanced budgets. Due to constant federal cuts and loss of revenue for a myriad of reason Washington is FAR from balanced nor has it been for several years consecutively now.
GCooper,
Thanks, buddy. It's good to see sane people on here. :)
Sarah,
Why do you hate the military so much? When I got out of the Air Force in 2010, the number of personnel was at its lowest since its creation in 1948. My ex squadron was on a constant 8 month off, 6month deployed rotation for the last 10 years. We had electronics equipment (radios/radar) from the 70's. I would agree that the DoD needs to spend its money more wisely but don't think that we were spending money like crazy. There are several congressional mandates that caused a large amount of wasteful spending. I also did purchasing for the military and you have no idea what red tape I had because of civilian regulations.
Wake Up,
Why are you so dramatic??? Are you like a 13 year old girl or something? I haven't seen such ridiculously, overly dramatized rhetoric since, I told my girl friends to bugger off, I wasn't joining a sorority, during my undergrad years. Should I start using text message acronyms and saying "like" after every other word?
Or are you just trying to dodge the question, because you know your ship is sinking.
Please, quote where I said I hate the military. Please. Where did I say that. Is it not true, that we have a lot of wasteful spending in our military and DOD? Is it not true that we have more wasteful spending there than we do in the discretionary budget? In fact, let's just compare the sizes of those budgets, shall we?
It's not about hating the military, it's about fixing the damn problems. Did it ever occur to you that if we cut back on some of the defense spending and ease some of the bloating in our military, it might just work better for all involved, including those in it? And, it will go a lot farther to fixing our deficit issues.
It is good to see the names of those who are trying to buy the next President. It will be interesting to see what executive orders are signed and how much they, executive orders, benefit the million dollar donors!
Welcome to the United Corporate States of America where our credo is "Of the Corporation, For the Corporation, and By the Corporation", "In Greed We Trust".
"in money we trust"
I trust in money in that I trust it to be used to pay my bills. What do you use? Campaigning generates bills. How would suggest paying for commercials, lodging, food, transportation, polling, etc?
Go USA... Take a look at Maine's Clean Elections Act. Then report back.
I don't live in Maine. Why should I care what they do?
Why in the world would anyone give a politician money ?
TZM
Pay to play, kickbacks, pork, Union Pension funds need to be paid for, Government industrial complex, Government media complex....
TV stations LOVE the add revenue that comes from a political campaign. They don't just give away the air time.
I support candidates with whom I agree as I understand that campaigning costs money.
This is the outcome President Obama warned about and Justice Alito so publicly denied would happen. Obama was applying obvious logic. Alito, Roberts, Thomas, et al, applied a handwritten note from the margin of a twentieth century copy of the Constitution that was an editorial comment on what the Constitution did not say. It was previously found that corporations are not persons. The Roberts Court found the opposite, overturned more than 100 years of anti-corruption legislation, and added that money is free speech - money talks. Now any average citizen is allowed to send millions of dollars out of their wages to support their favorite candidate. Most of us are short by about $999,950.
We already have the worst Congress money can buy. Now we can choose a president chosen for us by a fat cat. The only partisan branch of the government is now the Supreme Court. It says, In God We Trust on the money and In Money We Trust on the Constitution. Jesus and Jefferson have been defeated.
Here again is regulation where mr grover, the gop, & the rushbo will tell you people are honest & they are to be trusted. That no police are needed for the speed limit to work. Kyle Busch was ticketed in North Carolina for going 128 in a 45 zone while driving a 2012 Lexus LFA.
Affinity- Your so right.
60% ($63 million) donated to Obama's campaign has come from donations of $200 or less. That's awesome!!!!
Be careful how you read these numbers. A person can make multiple small donations that add up to a large donation over time but the small number is what is reported as a discreet piece of data. Would it make you feel better if Joe Megabucks made 200 $100 donations to a Super Pac? Each would be reported as a separate small donation. It's still a $20,000 donation but reported as 200 $100 donations.
AND so, I ask, WHY? What is in it for them? I do not know of ANYONE rich or not so simlpy throwing tons of money out there and not expecting something in return!
I understand what you're saying wen it comes to most of the big money donors but i do have to ask what do you think paypal would expect from Ron Paul?
The best government money can buy.
The last 30 years has seen the greatest amount of inflation in US history (healthcare, education, fuel prices, cost of groceries, etc.), middle class wage stagnation, millions of working class jobs shipped overseas and all the while the wealthy have seen their total wealth (measured by the values of homes, automobiles, businesses, savings, and investments) increase by 275%.
If taxes are too high on the wealthy how is that they can spare the money to make such MASSIVE contributions to their political puppets.
i do not have the answer to your question; why don't you ask your President?
Hey kansas... is Obama NOT your president? Are you seceding from the US? Or is this just another example of stupidity from the red-jelly center of the blue donut of America? You know, the folks in the red states rely more on government programs than other states but vote against their own interests.
http://www.nytimes.com/interactive/2012/02/12/us/entitlement-map.html
Now that the supreme court has created these superpacs, the one percenters, big oil and the corporations will be choosing our politicians from now on. They will allow you to vote, but the only people running will be those owned by the rich. No one will be able to run for office unless they are beholden to the elite in America. Dont kid yourselves. This has taken away the voice of the middle class and has put the last nail in the coffin of true democracy in the USA.
They are wasting their money,
It doesn´t matter who wins the GOP nomination; in the final analysis, it will be won by a perfect nobody in the sense of not being able to govern this country, including, of course, Mitt Romney who has spent his life in the real economy and not in DCA. He probably wants to change Washington making it more corrupt and a “real life” city as his dubious accomplishments, to be president, attest to. He is already crippled and weakened physically and morally by his riches. He bears no similarity whatsoever to the average American and is therefore not likeable by a vast majority of the country.
This group of weirdo misfits called GOP presidential candidates, in reality, could not even shine Obama's shoes. They only involve themselves in petty personal politics.
Ron Paul could run as independent, even if he sits at the table.
However, so much for the GOP: They have a right to be in total chaos and fractured!
Romney with real world applications – less than 15% effective rate taxpayer, instead of 30%; off shores’ money manager man, Swiss banks and Cayman bank accounts, instead of putting the money in US banks; domestic job destroyer that buys companies for profit and then dissolves them, firing everyone in sight, instead of using his business background to turn around these companies´ economy and boost job creation; immigrant hater; not concerned about the poor, 47 million Americans; his economic plan is just a list of good intentions with no ideological base; posthumous Jewish baptizer; and, too filthy rich to be president -- and Gingrich – a serial libertarian cheat, sex maniac at best, while pursuing dreams of living in a moon colony with his ladies; fined for tax evasion and writing fraudulent checks -- are fellows running for the presidency that really, in the final analysis, don´t respect anybody in the good old USA. People don´t matter to them, only money matters! They take orders from their churches (especially the Mormon slime machine), their financial backers, their women, and their money, and that´s all folks. They aren’t worth it!
Meanwhile, Santorum is an ex lobbyist that has made millions while in DCA, and many feel that the mafia would resuscitate if he made it to the White House. This guy is a suck-up who panders and postures to whomever he thinks will give him the vote. Another warmonger who just wants to defeat Obama -- never mind he has absolutely no plan or vision. Just more of the same -- more debt, cut domestic programs but NEVER the military. He knows where his bread is buttered. Cut military spending and you cut your own throat.
Finally, Ron Paul is too conservative, constitutionalist, and libertarian for anybody´s liking.
Clearly, the GOP has managed to set loose in the election scene of the country four stooges, and weirdo misfits, Banana republic style, that are not convenient for the presidency of the USA.
I would rather stick it out with Obama for the next four years. His presidential management has been a great success.
"oh where oh where has our little Newt gone oh where oh where can he be"well I'll tell you his rich guy told him to lay off Mr Romney and he did,so what kind of man or President will he be ,the best money can buy,and the other two don't have a clue as too whats going on.Just wild promises without any solutions,so is the rupublican party.They mite bring inMr Jed Bush,mark my words I see it coming
I think round two of citizens united will take care of that. This is a one time shot but we all see that it doesn't work anyway except they are spreading their wealth around. A billion dollars wouldn't get Newt elected and Romneys money is not helping that much either. In fact look at all the money against Obama. Think back to the Sof the U when Obama said it opened the flood gates. Once again President Obama was right. God and truth will prevail against all the money in the rich bank accounts. For every lie they promote and buy, Obama is repaid double as said in the Bible. And that appears to be the case. So should the republicans keep on lying or should they decide that doesn't work and come up with something halfway close to what a candidate should be doing and saying or thinking if they bother to do that at all. Santorum was criticizing Obama for using the teleprompter. I guess that is because they can't criticize him for saying stupid stuff like they do. They probably all should consider teleprompters. But I doubt that would even work. .
Let's hear it for the effectiveness of campaign spending legislation! McCain Feingold? Whether it's the Kochs on the right or Soros and Buffett on the left. Political money always seems to find a way. The Supreme Court may or may not have made it easier, but it didn't open Pandora's box here. It was already open.