Tag

Super Pacs

All articles tagged with #super pacs

politics3 hours ago•4 min saved

Feud with megadonor helps topple Rep. Crenshaw in Texas primary

A Texas billionaire donor, Robert Marling, funded about two-thirds of a pro-Toth super PAC’s anti-Crenshaw campaign with roughly $675,000, helping Steve Toth defeat Rep. Dan Crenshaw 55% to 40% in the Republican primary. The feud between Crenshaw and Marling—centered on district dynamics and ideological differences—was amplified by mailers and TV ads paid for by Marling, with Trump not endorsing Crenshaw and Cruz involved on the opposing side. The loss illustrates how a single affluent donor can seize a GOP primary in a single district.

via Axios|

#crenshaw #politics #robert-marling

politics1 month ago•5 min saved

Crypto and AI cash flood the 2026 midterms as Trump-aligned PACs lead fundraising

Campaign-finance reports show crypto groups like Fairshake amassing tens of millions (backed by Coinbase and venture capitalists) and an AI group, Leading the Future, with substantial funds; Trump-aligned MAGA Inc. remains a dominant fundraising force, while donors from Silicon Valley and OpenAI ties indicate broad industry influence shaping primary contests and policy for the 2026 elections.

via NBC News|

#ai #campaign-finance #crypto

politics1 year ago•3 min saved

Elon Musk Emerges as Top Political Donor with $277M GOP Support

Elon Musk spent at least $277 million supporting Donald Trump and the GOP during the 2024 election cycle, making him the largest donor. Most of his contributions went to America PAC, which focused on canvassing and digital ads, and included controversial voter giveaways. Musk also funded a PAC comparing Trump's abortion stance to Ruth Bader Ginsburg's, drawing criticism from Ginsburg's family. Additional donations were made to other GOP groups and super PACs, with some funds potentially going to undisclosed "dark money" groups.

via Business Insider|

#elon-musk #gop #political-donations

politics1 year ago•3 min saved

Elon Musk Emerges as Major Pro-Trump Political Donor with $250M Contribution

Elon Musk has contributed at least $260 million to support Donald Trump's presidential campaign, making him one of the largest individual donors. New Federal Election Commission filings reveal Musk's significant financial backing of America PAC and other pro-Trump groups, including a $20.5 million donation to RBG PAC, which controversially linked Trump's abortion stance to Ruth Bader Ginsburg. Musk's involvement highlights his growing influence in Trump's political sphere, with Trump appointing him to oversee a new government efficiency department. Other wealthy donors, like Howard Lutnick and Linda McMahon, have also secured roles in Trump's administration.

via CNN|

#2024-election #donald-trump #elon-musk

politics1 year ago•4 min saved

Crypto's Election Triumph: A New Political Powerhouse Emerges

The cryptocurrency industry has gained significant political influence following the 2024 elections, with a super PAC spending over $130 million to support pro-crypto candidates, including defeating Senate Banking Chair Sherrod Brown. The return of Donald Trump as President-elect and a potential GOP Congress is expected to create a favorable environment for crypto, with plans to limit the SEC's reach and possibly establish a strategic bitcoin reserve. However, there are concerns about the depth of support in the Senate and the ongoing SEC enforcement actions.

via POLITICO|

#cryptocurrency #donald-trump #elections

politics1 year ago•2 min saved

"Timothy Mellon Propels Trump to Fundraising Victory Over Biden"

Businessman Timothy Mellon donated $50 million to MAGA Inc., significantly boosting the super PAC supporting Donald Trump. This contribution is part of a larger trend of massive donations from megadonors on both sides of the political spectrum, making this election cycle potentially the most expensive ever. Other notable donations include Michael Bloomberg's $19 million to Biden's top super PAC and significant contributions from venture capitalists and other wealthy individuals.

via NBC News|

#biden #election-funding #megadonors

politics2 years ago•1 min saved

"DeSantis's Costly Failed Presidential Bid: A $168 Million Flop"

The failed effort to secure Florida Gov. Ron DeSantis as the Republican nominee for the White House cost a total of $168 million, with his own campaign spending $28.3 million and pro-DeSantis super PACs reporting payments of over $140 million. DeSantis, who relied heavily on outside support, ended his campaign after losing to Donald Trump in the Iowa caucuses and faced challenges including financial pressures, staffing shakeups, and allegations of coordination between his campaign and the super PACs.

via The Associated Press|

#campaign-spending #failed-presidential-campaign #federal-election-commission

politics2 years ago•6 min saved

"Nikki Haley's Struggles: Fundraising Woes and DeSantis's Expensive Run"

Governor Ron DeSantis's failed presidential bid cost over $160 million, with his campaign and allied super PACs spending heavily on advertising, private airfare, and donations to elected officials. Despite the massive spending, the campaign produced negligible results, leading to DeSantis dropping out before the New Hampshire primary and endorsing Donald Trump. Other Republican candidates, including Senator Tim Scott and entrepreneur Vivek Ramaswamy, also spent vast sums before dropping out, highlighting the scale of the financial investment and subsequent collapse in the 2024 Republican primary race.

via The New York Times|

#campaign-finance #politics #presidential-campaign

politics2 years ago•1 min saved

Crypto PACs Amass $78 Million for 2024 Political Influence

Three super PACs funded by leaders in the cryptocurrency industry are starting 2024 with a combined $78 million as they aim to influence the upcoming election cycle. Despite recent challenges, the cryptocurrency industry is determined to support pro-crypto candidates running for seats in the House and Senate. The super PACs, known as Fairshake, Protect Progress, and Defend American Jobs, have raised significant funds from influential players in the crypto space, including Andreessen Horowitz, Coinbase, and Ripple. While their specific endorsements for next year are unknown, the Fairshake super PAC has already spent over $1 million on television advertisements supporting lawmakers with a history of supporting the crypto industry, including House Financial Services Chairman Patrick McHenry.

via CNBC|

#campaign-funding #cryptocurrency-industry #election-influence

politics2 years ago•2 min saved

Crypto Industry Raises $78M for Super PACs, Boosting Crypto-friendly Lawmakers

A network of super PACs supported by cryptocurrency executives and investors has raised $78 million to influence the 2024 elections, with backing from companies like Coinbase and venture capital firm Andreessen Horowitz. The goal is to support candidates who advocate for crypto-friendly policies amid increased regulatory scrutiny. One of the affiliated super PACs, Fairshake, has already spent over $1.2 million on TV ads supporting House candidates. The crypto industry hopes that a political shakeup in 2024 will help shape favorable policies in Washington. Coinbase has also launched a grassroots advocacy campaign, and more pro-crypto super PACs are expected to mobilize in the future.

via POLITICO|

#2024-elections #crypto-friendly-policy #cryptocurrency

politics2 years ago•6 min saved

"Trump's Lead Grows as Haley and DeSantis Rely on Outside Campaign Groups"

Florida Governor Ron DeSantis and former United Nations Ambassador Nikki Haley are relying heavily on outside campaign groups as they try to challenge former President Donald Trump. DeSantis is encouraging his donor network to support a newly formed super PAC that has taken over advertising responsibilities, while Haley has gained the support of the Koch network, the largest conservative grassroots organization in the US. Both candidates are testing the limits of modern-day presidential campaigns by relying on independent groups, as they struggle to disrupt Trump's path to another presidential nomination.

via The Associated Press|

#campaign-finance-laws #donald-trump #nikki-haley

politics2 years ago•4 min saved

Dean Phillips Vows to Challenge Bidenomics and Invest Millions in Primary Campaign

Rep. Dean Phillips, a Democrat, is defying his party's pushback and vowing to invest millions of dollars from his personal fortune in his long-shot presidential primary challenge against President Joe Biden. Phillips plans to use super PAC money to air negative ads in key primary states and has been escalating his attacks against Biden's message and political standing. Despite facing criticism and potential damage to his own political career, Phillips believes Biden's low approval numbers and the need for change motivate his challenge. He aims to differentiate himself from Biden on border policy and affordability, and plans to campaign in South Carolina and Michigan before reassessing his candidacy after Super Tuesday.

via CNN|

#dean-phillips #democratic-party #joe-biden

politics2 years ago•2 min saved

"DeSantis and Haley Clash Over Gaza Refugees and Abortion Bans"

The rivalry between Florida Governor Ron DeSantis and former South Carolina Governor Nikki Haley has intensified, with super PACs and both campaigns releasing ads targeting each other as they compete in the polls. Pro-DeSantis Super PAC Never Back Down published ads criticizing Haley's remarks about Gaza refugees, while Haley's campaign launched an ad titled "Desperate DeSantis." Both candidates are vying for second place behind former President Donald Trump in national and early state polls, with DeSantis focusing on Iowa. Despite polls showing DeSantis behind Haley, he remains in second place on average nationwide.

via New York Post |

#campaign-ads #gaza-refugees #nikki-haley

politics2 years ago•4 min saved

"Former Bridgewater CEO Dave McCormick Secures Major Funding for Pennsylvania Senate Run"

Former Bridgewater CEO Dave McCormick, who recently announced his second run for a U.S. Senate seat from Pennsylvania, received support from a gathering of wealthy donors at a party hosted by fashion designer Tory Burch. Attendees included prominent figures from Wall Street such as Lloyd Blankfein, Steven Mnuchin, and Gary Cohn. Many of these individuals have indicated their intention to back McCormick's campaign against Democratic incumbent Sen. Bob Casey through campaign donations or fundraising efforts. Other potential backers include Paul Singer and Steve Schwarzman. If these executives contribute to the race, it could signal a costly campaign, potentially exceeding the $350 million spent in the 2022 Senate race in Pennsylvania.

via CNBC|

#campaign-funding #dave-mccormick #pennsylvania-senate

politics2 years ago•10 min saved

Presidential Super PACs Reveal Mid-Year Financial Takeaways

Super PACs supporting various presidential candidates have released their mid-year financial disclosures. Never Back Down Inc., backing Ron DeSantis, raised $130 million, with the majority coming from Empower Parents PAC and a single donor. Chris Christie's Tell It Like It Is PAC received nearly $5.9 million, including donations from Anthony Scaramucci and a GOP megadonor who paid for luxury trips for Supreme Court Justice Clarence Thomas. Tim Scott's TIM PAC raised nearly $20 million, largely from transfers from allied groups. Nikki Haley's Stand For America Fund raised $18.7 million, with contributions from Jan Koum and other prominent donors. Asa Hutchinson's America Strong and Free Action Inc. received $2.3 million, including donations from Walmart heirs and the head of Tyson Foods. Mike Pence's Committed to America PAC raised $2.7 million, with the highest contribution from an Arkansas businessman. Doug Burgum's Best of America super PAC raised over $11 million, with major donors including Frederick Burgum and Miles White. Robert F. Kennedy Jr.'s American Values 2024 PAC raised $9.8 million, primarily from two major donors.

via CNN|

#2024-election #financial-disclosures #fundraising