Billionaires poured millions of dollars into presidential super PACs in August

The nation’s wealthy opened their wallets in August with a focus on election season, donating millions to the super PACs backing Vice President Kamala Harris, former President Donald Trump and Democrats and Republicans throughout the country, according to monthly reports filed with the Federal Election Commission on Friday. The largest single-contributor donations went to MAGA Inc., the super PAC backing Trump, with Wisconsin roofing billionaire Diane Hendricks, a prolific GOP megadonor, giving $10 million to the group. Howard Lutnick, the CEO of the financial services company Cantor Fitzgerald, and Paul Singer, the president of Elliott Management, an investment management firm, both gave $5 million to MAGA Inc. Annette Caldwell Simmons, the widow of businessman Harold Simmons, gave $2 million to MAGA Inc., while Warren Stephens, the CEO of investment bank Stephens Inc., gave $1 million. Wisconsin roofing billionaire Diane Hendricks, a prolific GOP megadonor, gave $10 million to MAGA Inc. Leon Neal / Getty Images file The biggest donors to the group in August were Facebook and Asana co-founder Dustin Moskovitz, Netflix co-founder Reed Hastings and Twilio co-founder Jeff Lawson and his wife, Erica. Super PACs like FF PAC and MAGA Inc. are havens for prolific political megadonors like Hendricks, Lutnick and Hastings because, unlike campaigns and their affiliated committees, super PACs don’t have limits on how much individuals can donate. Further down the ballot, Club for Growth Action, a conservative super PAC that boosts GOP congressional and Senate candidates, received two major donations in August of $5 million each from Jeff Yass, the co-founder of Susquehanna International Group, a trading group, and Richard Uihlein, the founder of shipping supply company Uline. On the Democratic side, House Majority PAC, a group that boosts Democrats running for Congress, received $600,000 in August from Amos Hostetter Jr., the co-founder of Continental Cablevision, the biggest donation to the group for this filing period. – This Summarize was created by Neural News AI (V1). Source: https://www.nbcnews.com/politics/2024-election/billionaires-millions-dollars-super-pac-august-fec-filings-rcna172097