Sunday, August 2, 2015

Robert Mercer: At the top of the list of a 'small pool of rich donors'

Small Pool of Rich Donors Dominates Election Giving. (The New York Times, 8/1/2015)
Senator Ted Cruz of Texas, a favorite of the Tea Party movement, has raised the most cash from the fewest donors. A collection of super PACs supporting Mr. Cruz raised $37 million, nearly all of it from three families. Robert Mercer, a deeply private hedge fund investor from New York, contributed $11 million, making him the top known political donor in the country so far this election cycle.

Related article:
Hedge-Fund Magnate Robert Mercer Emerges as a Generous Backer of Cruz.  (The New York Times, 4/10/2015)
“He’s a patron for ultra-right-wing causes,” Mr. DeFazio said, “and in a Republican presidential race, being an ultra-right-wing millionaire from Wall Street isn’t going to hurt you.”

He is also an example of how wealthy donors have been empowered by the Supreme Court’s 2010 decision in the landmark Citizens United case, which paved the way for super PACs.

Related posts:
How to avoid creating the appearance of undue influence with your Super PAC donation: Keep it at $1,000,000 or less! (7/12/2015)
Billionaire boys and their political toys.  (7/12/2015)

No comments: