While Republican super PACs and other outside groups are on track to spend more than $500 million on behalf of Republicans in this election cycle, Democrats are lagging behind.
Leading the way for Republicans are hotel/casino titan Sheldon Adelson, who with his family has given more than $40 million this year, and Charles and David Koch, owners of an industrial conglomerate.
But Democrats have been unable to find anyone to match their firepower,
Politico reports. Democratic billionaires like investment legends Warren Buffett and George Soros aren’t opening their checkbooks.
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Many potential donors are put off by the White House’s ambivalence toward the outside groups and President Barack Obama’s reluctance to give huge donors the attention they demand.
Some of the more liberal Democrat mega donors are upset with the Supreme Court’s Citizens United decision that allowed unlimited donations to outside groups in the first place.
Politico analyzes the decisions of several heavyweight Democratic donors to hold on to their wallets for this election.
Editor's Note:
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Penny Pritzker
Her family founded the Hyatt hotel chain, and she was finance chairman of Obama’s 2008 campaign. Knowledgeable sources tell Politico Pritzker feels neglected by the White House. And she has voiced opposition to the Citizens United decision.
George Soros
The hedge fund star has been a generous Democratic donor in past years. But he’s not ponying up to Obama’s super PAC – Priorities USA Action. Sources close to Soros tell Politico he objects to the negative focus of super PACs and doesn’t think his money would make a difference.
Warren Buffet
The Berkshire Hathaway CEO doesn’t like super PACs. “I don’t want to see democracy go in that direction,” he said at the firm’s annual meeting. “You have to take a stand some place.
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