In Republican Race, a New Breed of Superdonor

[ProSense]

In Republican Race, a New Breed of Superdonor

By NICHOLAS CONFESSORE, MICHAEL LUO and MIKE McINTIRE

Last June, Harold C. Simmons, a wealthy Texas businessman, sent a $100,000 check to Americans for Rick Perry, a “super PAC” preparing for Mr. Perry’s entry into the presidential race. A few months later, he donated $1 million to a different pro-Perry group through his company. In December, as Mr. Perry’s fortunes waned, Mr. Simmons wrote another check, this one for $500,000, to Winning Our Future, a super PAC supporting Newt Gingrich.

But Mr. Simmons was not done. In mid-January, as Mr. Gingrich was headed toward a victory in the South Carolina primary, Mr. Simmons wrote a $100,000 check to Restore Our Future, the super PAC supporting Mitt Romney. And toward the end of the month, as Restore Our Future used his money to help bludgeon Mr. Gingrich with attack ads in Florida, Mr. Simmons sent yet another $500,000 check to Mr. Gingrich’s super PAC.

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Mr. Simmons’s contributions — all told, he has given more than $14 million to Republican super PACs so far this cycle — make him the exemplar of a new breed of superdonor in presidential politics. About two dozen individuals, couples or corporations have given $1 million or more to Republican super PACs this year, an exclusive club empowered by the Supreme Court’s Citizens United decision and other rulings to pool their money into federal political committees and pour it directly into this year’s presidential campaign.

Collectively, their contributions have totaled more than $50 million this cycle, making them easily the most influential and powerful political donors in politics today. They have relatively few Democratic counterparts so far, with most of the leading liberal donors from past years giving relatively small amounts — or not at all — to the Democratic super PACs.

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http://www.nytimes.com/2012/02/22/us/politics/in-republican-race-a-new-breed-of-superdonor.html?&pagewanted=all

The GOP’s Big Investors

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According to January’s Federal Election Commission report, William Dore and Foster Friess supplied more than three-fourths of the $2.1 million raked in by Rick Santorum’s super PAC in January. Dore, president of the Dore Energy Corporation in Lake Charles, Louisiana, gave $1 million; Freis, a fund manager based in Jackson Hole, Wyoming, gave $669,000 (he had given the Santorum super PAC $331,000 last year, bringing Freis’s total to $1 million).

Sheldon Adelson and his wife Miriam provided $10 million of the $11 million that went into Gingrich’s super PAC in January. Adelson is chairman of the Las Vegas Sands Corporation. Texas billionaire Harold Simmons donated $500,000.

Peter Thiel, co-founder of PayPal, provided $1.7 million of the $2.4 million raised by Ron Paul’s super PAC in January.

Mitt Romney’s super PAC raised $6.6 million last month – almost all from just forty donors. Bruce Kovner, co-founder of the New York-based hedge fund Caxton Associates, gave $500,000, as did two others. David Tepper of Appaloosa Management gave $375,000. J.W. Marriott and Richard Marriott gave a total of $500,000. Julian Robertson, co-founder of hedge fund Tiger Management, gave $250,0000. Hewlett-Packard CEO Meg Whitman gave $100,000.

Bottom line: Whoever emerges as the GOP standard-bearer will be deeply indebted to a handful of people,

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http://robertreich.org/post/18021562021

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