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    • Who are the big-spending billionaires in the PA Senate race?
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    Who are the big-spending billionaires in the PA Senate race?

    Harry Posted on

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    Pennsylvania’s competitive Senate race has spent nearly $300 million so far, but only a fraction of that has come from the candidates themselves.

    Super PACs, which can and do accept five-, six- and seven-figure donations, are trumping U.S. Sen. Bob Casey and his Republican rival Dave McCormick in the money game. And this happens through committees. no contribution limitHe says ultra-wealthy donors across the U.S. used their financial power to try to influence Pennsylvania’s outcome and the partisan makeup of the insular Senate.

    Pennsylvania’s vote: 2024 voter guide

    Outside groups have collectively spent nearly $210 million in the Senate race in Pennsylvania to date, either supporting a candidate or attacking one. According to OpenSecretsA group that follows money in politics.

    By comparison, Casey, a three-term Democrat, spent about $51 million in his re-election bid, and McCormick’s campaign spent about $25 million, according to financial disclosures.

    Both Casey and McCormick receive support from super PACs, many of which direct money to various races across the country. One in particular, called Keystone Renewal, stands out because it is focused on helping McCormick, the former CEO of a software company and later a hedge fund.

    Disclosures show more than $35 million has flowed into the PAC this year from fewer than 100 individuals and organizations. Some of the GOP’s biggest Wall Street backers are on its donor list.

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    Who are the billionaires fueling Dave McCormick’s bid?

    A big supporter last year was Paul Singer, hedge fund manager and president of the Manhattan Institute, an influential, conservative-leaning think tank. Singer donated $2 million to Keystone Renewal last year.

    The top individual contributors to the pro-McCormick super PAC this year are:

    Ken Griffin is a hedge fund CEO based in Miami. Griffin gave $5 million to the PAC in recent months, on top of the $10 million he provided last year. American Patriots PAC, a group funded primarily by Griffin and Singer, donated another $1 million to the pro-McCormick committee. Citadel’s chairman has emerged as one of the largest GOP donors in the United States to influence public policy. security and schools. Although it pours Tens of millions of dollars to Senate and House races in this election cycle largely left out presidential general election contest, I tell POLITICO He believes it’s time for the Republican Party to move on from former President Donald Trump.

    Thomas Peterffy is the Hungarian-born founder of an electronic broker. Peterffy, who lives in Palm Beach, contributed $3 million to the PAC this year and spent $300,000 last year. The billionaire creator of multinational corporation Interactive Brokers left his home in socialist Hungary for America in his early 20s – and expressed his concern About the shift towards socialism in the United States

    Antonio Gracias is the founder of Chicago-based Valor Equity Partners. Thanks, The person Forbes predicts is a billionairethis year he poured $4 million into the PAC between direct contributions and contributions from his trust. Gracias, Elon Musk’s loyal business supporter and recently became a political ally, providing $1 million. richest person in the worldThe fight for Trump’s re-election.

    Elizabeth Uihlein is president of a Wisconsin transportation supply company. Uihlein and her husband, Richard, are billionaires who have donated hundreds of millions of dollars to conservative candidates and causes over the past decade. sometimes for different purposes. According to POLITICO, Richard Uihlein tends to support candidates who go against party orthodoxy, while Elizabeth Uihlein tends to support people who fall in line with the GOP establishment. She contributed $1.5 million to the Keystone Renewal this year, and her husband also donated $500,000.

    Jeffrey Yass is the richest man in Pennsylvania. Yass, a vocal advocate for school voucher programs, is one of the only PAC contributors from the state. According to financial disclosures, he donated $1 million last year and $1.25 million this year; most of this donation occurred in the final weeks of the campaign.

    Yass will be the second-largest political donor in the country in the 2024 election cycle. spent approximately 80 million dollars According to OpenSecrets, we support GOP candidates.

    Jan Koum is the co-founder of WhatsApp. Koum, who immigrated to the United States from Ukraine in his youth, contributed more than $1.5 million to the Keystone Renewal this year.

    He was also a benefactor of Nikki Haley’s candidacy in the GOP presidential primaries and a major funder of the pro-Israel PAC. Working against candidates perceived as not sufficiently supportive of Israel.

    Steve Wynn, former casino mogul. Wynn walking away from him Gambling empire after sexual harassment investigationdonated $1 million to Keystone Renewal this year.

    Although Wynn has denied wrongdoing, the Republican National Committee promised to return donations if the accusations had been substantiated. Since then, he has paid tens of millions of dollars in settlements in cases even though he was not found guilty. Republicans continued to accept political contributions from him.

    Charles Johnson is the billionaire owner of the San Francisco Giants. Johnson is the former chairman of Franklin Templeton Investments, a global investment firm. He donated $1 million to a pro-McCormick PAC this year.

    Including Johnson’s political donations to a Mississippi senator mocked for his willingness to participate in a “public execution” and a group trying to do this Keep critical race theory out of schoolsruffled the feathers and caused Call for boycott of baseball team.

    Stephen Schwarzman is chairman of Blackstone Inc., a New York-based private equity and real estate firm. Schwarzman, grew up outside PhiladelphiaHe fought to get Republicans elected to House and Senate seats across the country this cycle, targeting races in Montana, Ohio, Maryland and Pennsylvania. He has poured $1 million into a pro-McCormick PAC so far in 2024 and donated $500,000 last year. Schwarzman lashes out at Trump harshly and coldly Recognized in New York’s real estate business circles and informally advised the former president during his first term. He initially refrained from endorsing the former president in 2024, but He later approved it, expressing his concerns About the rise of antisemitism.

    Marjorie Buckley is the wife of the late Walter Buckley, a Pennsylvania businessman and Bethlehem Steel pension fund manager. Buckley, who reported that he currently lives in Palm Beach, Florida, donated $1 million to the Keystone Renewal PAC.

    McCormick’s candidacy also receives strong support Senate Leadership Funda super PAC affiliated with the chamber’s top Republican, Sen. Mitch McConnell. The PAC spent more than $40 million to oust Casey, according to OpenSecrets.

    Which super PACs are spending big to re-elect Senator Bob Casey?

    A committee affiliated with Senate Majority Leader Chuck Schumer donated more than $52 million through another PAC to support Casey and defeat McCormick. According to OpenSecrets.

    Schumer compatible Senate Majority PAC He takes money from billionaires like Connecticut hedge fund manager Stephen Mandel and Netflix co-founder Reed Hastings. Both men are among the biggest Democratic megadonors this election cycle, according to one study. Washington Post analysis.

    But one of the PAC’s biggest benefactors is a 501(c)(4) called Majority Forward, a nonprofit organization that is not required to disclose its donors and are often referred to as “donors.” black money group Because the source of funds cannot be traced.

    Casey also receives support from the following organizations: Democratic Senate Campaign CommitteeHe supported with more than 10 million dollars.

    Bethany Rodgers is an investigative journalist for the USA TODAY Network Pennsylvania equity bureau..

    Harry
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