In the contentious 2022 cycle, record amounts of money are being raised and spent by candidates.
As might be expected, some of the nation’s wealthiest people are giving large sums of money to candidates and organizations on both sides of the aisle. According to OpenSecrets, a website that compiles campaign donations, a whopping $9.3 billion will be spent on this year’s election. That by far surpasses the inflation-adjusted total of $7.1 billion spent on the 2018 midterms.
Fox Business reports that big money donations make up roughly 43% of political donations this current election cycle, 20% is from small amount donors, and PACs round out the donations at 8%.
So who are some of these “big money” donors?
RELATED: Musk Celebrates ‘Awesome’ Fact-Check That Forced White House To Delete Misleading Social Security Tweet
On the Democrat side, it should come as no surprise that billionaire investor George Soros comes in first place in terms of money spent. OpenSecrets lists him as giving roughly $126,752,713 to Democrat and liberal candidates and groups.
Among the candidates George Soros has donated to: Sens. Catherine Cortez Masto (D-NV) and Mark Kelly (D-AZ). He has also given money to North Carolina Senate candidate Cheri Beasley, and Wisconsin Senate candidate Mandela Barnes.
OpenSecrets also lists Fred Eychaner, founder of Newsweb Corporation, who has donated $17,000,000 to Democrats and liberals. Hedge fund founder, 2020 Presidential candidate, and environmental champion Tom Steyer has donated $6,934,767. Former New York City Mayor Michael Bloomberg has given $5,572,025.
Over on the Republican side, Uline shipping and business supply founder Richard Uihlein has donated an eye-opening $59,271,645 to Republicans and conservative causes. Las Vegas business mogul Steve Wynn and his wife have donated $11,495,000. Bernard Markus is the co-founder of Home Depot, and also founded the Markus Foundation, which has donated $11,010,000.
Citadel Securities founder Kenneth Griffin has donated to GOP candidates Sens. Ron Johnson (R-WI), and Tim Scott (R-SC), Georgia Senate candidate Herschel Walker, and House Minority Leader Kevin McCarthy.
Be it a good or bad business decision, some have donated to both sides, including cryptocurrency exchange FTX founder Sam Bankman-Fried and LinkedIn co-founder Reid Hoffman.
RELATED: Report: DeSantis Privately Told Donors His Decision On Challenging Trump In 2024
With Elon Musk now at the helm of Twitter, it might be interesting to see where one of the big tech giants put their money.
Fox News may have hinted at the answer back in April, when they reported that 99% of Twitter employees donations went to Democrat campaigns and causes. Just 10 employees gave to the GOP fundraising platform WinRed.
Christian-owned companies, while not donating the millions that others are, do donate to Republican and conservative causes. Hobby Lobby employees have donated to the National Republican Senatorial Committee, the Save America PAC, and individual campaigns like Reps. Lauren Boebert (R-CO) and Steve Scalise (R-LA).
Chick-fil-A employees have also given to Republicans. Those donations have gone to the Republican National Committee, and individual candidates, including former President Donald Trump.
More and more Americans may be paying attention to the companies whose products they use, and to whom their profits go.
Now is the time to support and share the sources you trust.
The Political Insider ranks #3 on Feedspot’s “100 Best Political Blogs and Websites.”
By Bruce Abramson for RealClearPolitics The First Amendment is at a critical juncture. Recent congressional…
By Brett Rowland (The Center Square) The federal government reported an estimated $247 billion in…
The presumption of innocence is a fundamental tenet of the justice system in the United…
By Kevin Bessler (The Center Square) A new study is shedding light on the outcomes…
By Tom Gantert (The Center Square) Criticism of Thursday's indictment of former President Donald Trump…
By Bethany Blankley (The Center Square) Republican senators filed a bill to designate Mexican cartels…