The gusher of political money flowing from “economic elites” may even endanger democracy itself, according to a recent study by two leading academics, since it concentrates political influence among a small number of billionaires while disenfranchising typical voters.
With crony capitalism and income inequality likely to be prominent issues in the election, Yahoo Finance will track the big donors funding each candidate, and why they might be doing that.
Hillary Clinton. Fundraising tier, out of 3 levels: Highest
Prominent donors: Most of the
usual big Democratic givers, including Tom Steyer, Fred Eychaner, James
Simons, George Soros, Marc Lasry, Reid Hoffman, Jeffrey Katzenberg and
John Doerr.
Advantages: A
vast network of rich contacts from her years as a senator and Secretary
of State, and of course her husband Bill’s years as president.
Vulnerabilities:
Clinton may seem such a shoe-in that donors grow complacent and hold
back, leaving her at a funding disadvantage against Jeb Bush or whoever
the Republican nominee turns out to be.
Jeb Bush. Fundraising tier, out of 3: Highest.
Prominent
donors: Big names in business and finance, such as financier Henry
Kravis, New York Jets owner Woody Johnson, Chicago banker Byron Trott,
oilman T. Boone Pickens and cellphone pioneer Craig McCaw.
Advantages:
Inherits mainstream GOP fundraising network cultivated by his brother
George W. Bush, his father, George H.W. Bush, and 2012 GOP presidential
nominee Mitt Romney.
Vulnerabilities: May need to spend a lot of money slogging through drawn-out primary elections.
Scott Walker. Fundraising tier: Middle.
Prominent
donors: GOP heavyweights Sheldon Adelson and Charles and David Koch
have contributed to Walker as Wisconsin governor and could back him for
president (though Walker probably won’t declare his candidacy until
early July).
Advantages:
Walker’s anti-union crusade in Wisconsin has made him a favorite of
conservatives impressed by action as well as talk.
Vulnerabilities: Few voters know much about Walker, which could make him too much of an underdog in the eyes of some donors.
Marco Rubio. Fundraising tier: Middle.
Prominent donors: Oracle’s Larry Ellison, Florida billionaire Norman Braman, Florida sugar baron Jose “Pepe” Fanjul.
Advantages:
At 44, Rubio has a bright political future even if he doesn’t win in
2016—perhaps running for Florida governor in 2018. That should attract
some donors who wouldn’t otherwise support an underdog.
Vulnerabilities: Could become overdependent on a small number of rich donors.
Ted Cruz. Fundraising tier: Middle
Prominent donor: Hedge funder Robert Mercer of Renaissance Technologies.
Advantages:
Cruz is on the far right of the political spectrum, which makes him the
favored candidate of many Tea Partiers and ultraconservatives such as
Mercer.
Vulnerabilities:
Though his wife has been a senior Goldman Sachs executive, Cruz has
alienated the business community through efforts to shut down the
federal government and other disruptive political tactics.
Lindsey Graham. Fundraising tier: Middle to lowest
Prominent donor: Michael Bloomberg, who donated to Graham’s super PAC as a way of promoting bipartisanship.
Advantages: The South Carolina senator’s hawkish views on the Middle East have strong appeal to Jewish conservatives such as billionaire Sheldon Adelson (who hasn’t yet endorsed a candidate).
Vulnerabilities: Graham’s hawkishness alienates libertarians, independents and (needless to say) most Democrats.
Carly Fiorina. Fundraising tier: Middle to lowest
Prominent
donor: Herself. Fiorina spent nearly $6 million of her own money
running for the Senate in California in 2010. (She lost.)
Advantages:
As the only woman among a male-dominated parade of GOP candidates,
Fiorina might emerge as a vice-presidential running mate to Jeb Bush or
another frontrunner.
Vulnerabilities.
Big GOP donors who supported Fiorina as a Senate candidate—such as T.
Boone Pickens, Paul Singer and Ken Griffin—seem likely to back other
candidates now that the presidency is at stake.
Rick Perry. Fundraising tier: Middle to lowest
Prominent donors: Texas businessmen Thomas Friedkin and Kenny Trout.
Advantages: Texas, where Perry was governor, is a big state with big money.
Vulnerabilities:
Perry’s listless performance as a presidential candidate in 2012 makes a
lot of donors wonder why he’s doing it again.
Mike Huckabee. Fundraising tier: Lowest
Prominent donor: Televangelist Kenneth Copeland.
Advantages:
The former Arkansas governor, a fundamentalist southern Baptist
minister, has a considerable following thanks to his former gig as a Fox
News commentator and frequent appearances at Christian gatherings.
Vulnerabilities: Huck, as he’s known, has little appeal beyond Christian conservatives, which is why he ranked 11th in fundraising when he ran for president in 2008.
Ben Carson. Fundraising tier: Lowest
Prominent donor: Harry Bettis, an Idaho rancher who supports Republican candidates and causes.
Advantages: Personal rags-to-riches narrative that could inspire small donors.
Vulnerabiliites: No natural constituency, other than voters who are sick of all the usual candidates.
Rick Santorum. Fundraising tier: Lowest
Prominent donors: Bill Doré and Foster Friess.
Advantages: His supporters tend to be true believers inspired by Santorum’s religious and moral positions.
Vulnerabilities: There aren’t nearly enough of them.
George Pataki. Fundraising tier: Lowest
Prominent donor: He’s desperately seeking one.
Advantages:
Three terms as New York governor left Pataki well-acquainted with many
East Coast businesspeople, including some top GOP donors.
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