SuperPAC, Big Tech & Foreign Interests Driven
2020 Presidential Election Campaign
When any major political party or Presidential candidate express disdain to SuperPAC, Hybrid PAC and billionaires invalidating ordinary electorate rights and votes by flooding political campaigns and candidacy with millions of dollars appropriately referenced as ‘dark money’, and yet turn out the biggest recipient in dole collection, the credibility of such candidacy and political party becomes the biggest issue.
The political party and Presidential candidate’s campaign rhetoric supposedly looking out for the little guy while dwelling in deep pockets and pledged to protect big money interests upon assuming power is the greatest tragedy and betrayal in the so-called democracy.
The snapshot on donations to the democratic Presidential candidate Joe Biden claim to represent working class and average folks while substantial money in millions of dollars received from tech giants and their senior executives stream of funds not barring foreign donors cash flowing into the campaign explain the big techs and foreign governments role as gatekeepers in preventing the free and fair electoral process.
The important factor is China’s major contributions exceeding expectations in donations to democratic Presidential candidate Joe Biden amidst COVID19 frenzy also raise the red flag in private and special interests pivot in the United States Presidential race 2020.
The SuperPAC and Hybrid PAC donations made available in public domain confirm the inherent disparity and duplicity in political campaign rhetoric and reality.
Author & Presenter
Courtesy: Investopedia.com – Thank you.
Where Does the Big Money Go?
Very large donations in U.S. presidential elections are directed toward super PACs (Political Action Committees), or hybrid PACs because of the $5,600 limit on how much an individual can give to a candidate’s official campaign committee per election cycle.
Priorities USA Action, a liberal, hybrid PAC in its fifth election cycle, has received the most money of any pro-Biden, single-candidate organization. Millions of dollars have come into the PAC from the affiliated Priorities USA nonprofit, but since it doesn’t disclose donors, it’s known as a “dark money” group and we can’t be certain who contributed to it. Biden supporters may also give to joint fundraising committees set up for the presidential campaign and the Democratic National Committee like the Biden Victory Fund and Biden Action Fund.
The biggest industries represented among Biden donors this cycle overall are Finance, Securities & Investment, and Education.
The following are the top donors to the Biden 2020 campaign (2020 election cycle) according to processed Federal Election Commission data.***
1. Donald Sussman, Paloma Partners – $9 Million
2. James Simons, Euclidean Capital – $7 Million
3. Deborah Simon, Retired – $4.6 Million
4. George Marcus, Marcus & Millichap Co. – $4 Million
5. Seth Klarman, The Baupost Group – $3 Million
6. Michael Moritz, Sequoia Capital – $2.5 Million
7. Phillip Ragon, Intersystems Corporation – $2.5 Million
8. Stewart Bainum Jr., Choice Hotels – $2 Million
9. Kenneth Duda, Arista Networks – $2 Million
10. Jeffrey Skoll, Goodlands Management – $2 Million
Renaissance Technologies director Henry Laufer and his wife, Marsha, together contributed $4 million to back Biden. Masimo Corporation founder and CEO Joe Kiani gave $1.6 million. LinkedIn co-founder Reid Hoffman, hedge fund manager Stephen Mandel and D.E.Shaw & Co founder David Elliot Shaw all gave $1.5 million each.
Big donors from the media industry include director Steven Spielberg and his wife, Kate Capshaw, who together gave $2.5 million. Family Guy creator Seth Macfarlane donated $700,000 and media mogul Jeffrey Katzenberg gave $200,000. Kathryn Murdoch and James Murdoch, son of News Corporation executive chairman Rupert Murdoch, together contributed $1.1 million