Paths to Influence: How Leading 2020 Political Donors Approach Philanthropy

This article was originally published on February 20, 2020.

For members of America’s far upper class, philanthropy and political spending don’t always align. But when they do, the impact can be significant. Some leading political givers still do their philanthropy the old-fashioned way, lavishing millions on alma maters and uncontroversial charities. Others deploy their 501(c)(3) giving more strategically, complementing large contributions to super PACs and 501(c)(4)s with c3 support to issue advocates, community organizers and civic engagement efforts to get out the vote on their side.

Ever since federal judicial decisions—notably Citizens United v. FEC—eroded previous limits on outside electoral spending, ultra-wealthy donors on both sides have devoted copious sums to getting their candidates elected and attacking the opposition. A great deal of this money flows through c4s and other recipients of “dark money,” so named because donor disclosure isn’t required. But super PACs must disclose, and they’re one of the most effective—or notorious—ways donors can get around limits on direct campaign spending.

On the cusp of an election certain to shape the course of American politics, it’s worth taking a look at the philanthropic profiles of some of the top 2020 political donors to emerge so far. Most of them are billionaires and engage in some form of philanthropy, but that giving varies widely in its goals, scope and political relevance. Here are some leading names as the year begins, drawing from research on outside spending at OpenSecrets.org, courtesy of the Center for Responsive Politics.

1. Tom Steyer

It seems odd to include active presidential candidates on this list, but Steyer has been one of the top outside political spenders in the 2020 cycle so far. So far, the billionaire financier has contributed at least $28.3 million to two super PACs of his own creation: NextGen Climate Action and Need to Impeach. The first is the political arm of NextGen America, the advocacy organization he formed in 2013 to galvanize youth support for progressive causes. The second, as the name suggests, is directly targeted at President Trump and reflects Steyer’s fervent opposition to the current occupant of the White House. In 2018, Steyer donated around $73.7 million to influence federal races, a total that includes both his PAC spending and contributions to candidates and parties—although it doesn’t include any undisclosed 501(c)(4) donations.

As most of us know, Steyer began his philanthropic career with a strict focus on the environment, backing causes like alternative energy and climate activism. Some of his largest gifts established the TomKat Center for Sustainable Energy at Stanford ($40 million) and the Energy Sciences Institute at Yale ($25 million). Steyer and his wife Kat Taylor deploy much of their philanthropy through the TomKat Charitable Trust. The trust’s giving centers on the environment and includes a strong advocacy component, including millions to the Center for American Progress.

2. Mike Bloomberg

As a candidate or philanthropist, Bloomberg needs no introduction. Despite entering the 2020 presidential race late, the business tycoon and former New York mayor has already spent hundreds of millions on campaign staff and ads. His outside political spending this cycle is more modest, but it still puts him in second place on this list as of early February. The bulk of Bloomberg’s $15 million in PAC spending has gone to two groups so far. The first, the House Majority PAC, is one of several super PACs on both sides dedicated to congressional races. The second, Fair Fight PAC, was founded by former Georgia gubernatorial candidate Stacey Abrams to combat voter suppression. Back in 2018, Bloomberg’s federal political spending totaled over $95 million.

We’ve written a great deal about Mike Bloomberg’s philanthropy over the years, including an up-to-date appraisal when he announced his candidacy last November. He is, of course, one of the world’s richest people with a fortune estimated at around $61.5 billion and a record of philanthropic giving that tops $8 billion. He’s one of a few folks at the apex of philanthropy who give away immense sums but still manage to get richer every year. Some of Bloomberg’s favored causes include reducing tobacco and traffic deaths, shuttering coal plants, fighting gun violence, and taking on the opioid crisis. He’s a sophisticated giver who’s more than willing to align political and philanthropic dollars. But his technocratic playbook may be as much a stumbling block as an advantage.

3. Donald Sussman

The financier, whose $39 million in political contributions during the 2016 cycle put him in third place behind Tom Steyer and Sheldon Adelson, appears more than willing to carry on that tradition in 2020. So far, Sussman has donated around $12.5 million to several liberal super PACs and Carey committees (hybrid entities that can contribute to candidate committees, like a PAC, while also indulging in super PACs’ independent spending). Most of those funds have gone to super PACs active in the congressional races as well as to Priorities USA Action, one of the largest Democratic super PACs. Sussman’s federal political contributions in 2018 were also significant, totaling around $27.5 million.

Sussman’s political giving mostly overshadows his activities as a philanthropist, which have been fairly diverse and disconnected from politics. One highlight is a $12 million gift to build student housing at Skidmore College, the alma mater of his daughter Emily Tisch Sussman. The younger Sussman is a progressive political strategist who previously served as VP of Campaigns at the Center for American Progress and is now a Senior Advisor at Swing Left.

4. Timothy Mellon

A scion of a storied old Gilded Age family, Tim Mellon channeled some of that wealth into his own entrepreneurial endeavors. First among them is Pan Am Systems, where he remains chairman and majority owner. Mellon’s recent contribution of $10 million to the Congressional Leadership Fund, a super PAC, makes him the first conservative donor on this list. That donation mirrors a 2018 commitment to the same super PAC, also for $10 million. Mellon appears to support strong immigration enforcement policies, as evidenced by a donation of $1.5 million in 2010 to support the defense of a controversial measure in Arizona whose opponents claim it encourages racial profiling. Oddly, Mellon also gave $2,700 to progressive star Alexandria Ocasio-Cortez in 2018.

Like most of his family, Mellon keeps things fairly quiet and doesn’t boast a major record of philanthropy. He once served as a trustee of the Andrew W. Mellon Foundation, whose support for the arts and humanities may now tack in a more social activist direction under Elizabeth Alexander. It should be noted that another branch of the Mellon clan bankrolls conservative advocacy through philanthropic vehicles like the Sarah Scaife Foundation and the Colcom Foundation, a major funder of the anti-immigration movement.

5. Fred Eychaner

The Newsweb Corporation founder has established himself as a leading Democratic donor over the past several cycles. This time around, Eychaner has already shelled out $4 million apiece to the House and Senate Majority PACs, which he also backed to the tune of $10 million in total in 2018. Eychaner was the fourth-highest donor to outside spending groups during the last presidential election, coming in only behind Steyer, Adelson and Sussman.

Often described as “reclusive,” Eychaner conducts his philanthropy through the Alphawood Foundation, which gives away around $13 million a year. The foundation focuses its efforts on the Chicago area and combines support for arts and architecture with funding for LGBTQ rights and a variety of progressive advocacy organizations. Eychaner also gives for HIV/AIDS prevention and awareness. This is a philanthropist who originally tried to call his foundation “Anonymous,” so we wouldn’t be surprised if he’s funding left-leaning causes by other means. Case in point: the millions of dollars he’s apparently donated over the years to the Clinton Foundation.

6. George Soros

Is anyone surprised to see Soros on this list? The left-wing stalwart (and winner of our 2019 award for Philanthropist of the Year) has given $6,285,000 to liberal super PACs and other outside groups this cycle, notably Democracy PAC, the super PAC he intends to serve as a home base for his 2020 political spending. Another interesting destination for Soros political money this cycle is Justice & Public Safety, a super PAC formed to boost progressive candidates in local prosecutor races. Soros spent just over $20 million to influence federal races in 2018.

Soros’ Open Society Foundations are, of course, a massive player on the liberal philanthropy scene, supporting a global campaign to preserve civil society institutions and oppose authoritarianism. Here in the U.S., Open Society is both loved and hated for its broad support for progressive advocacy organizations, a track record that has turned the investor into a bogeyman for right-wing politicos. Soros’ philanthropy also offers something of a case study in foundation management: Open Society’s legendary organizational complexity and a 2016 staff vote to join a union come to mind.

7. George Marcus

Billionaire real estate broker George Marcus is fast becoming a regular on the large-scale political spending scene. He ramped things up in the 2018 cycle with over $8 million in contributions to liberal super PACs, and his spending this cycle amounts to $6 million so far. Much of the money has gone to the House and Senate Majority PACs, but Marcus has also given $1 million apiece to Unite the Country PAC, which supports Joe Biden, and to the American Bridge 21st Century PAC, a major funder of pro-Democrat opposition research. In an interview last year, Marcus stated his belief that “long term, the Democratic Party is a more egalitarian-minded party. It looks at helping the disadvantaged in a more hands-on way.”

Marcus and his wife give through the George and Judy Marcus Family Foundation, with a focus on the Bay Area. The causes they support are diverse and range from scholarships at local schools to Greek organizations and medical research. Their biggest recent gift was a $25 million commitment to their shared alma mater, San Francisco State University.

8. Henry Laufer

Henry and Marsha Laufer derive their $4 billion fortune from Renaissance Technologies. The hedge fund firm’s success has underwritten a whole lot of political giving over the years on both sides. Co-founder Jim Simons is a big-time Democratic donor with a colossal fortune of over $21 billion, while longtime CEO Robert Mercer has dedicated his pocketbook to backing far-right policies and supporting Trump. The Laufers’ politics lie closer to those of Simons. So far in the current cycle, they’ve contributed $5,750,000 to liberal groups, including $250,000 to the Everytown for Gun Safety Victory Fund.

Laufer’s philanthropy has been fairly low-key. There’s no formal foundation, and giving tends to favor education and research, the arts, Jewish issues, and causes like women’s rights. One highlight is the Laufer Center for Physical and Quantitative Biology at Stonybrook University.

9. Deborah Simon

Deborah Simon is a relatively new name on the list of top political spenders, but she came in heavy in 2018 with just over $10 million in total federal political contributions. She has already put in around $4.5 million this cycle. Simon derives her wealth from Simon Property Group, one of the nation’s largest real estate investment trusts and shopping mall operators.

Simon gives through the Deborah Joy Simon Charitable Foundation, which gave around $8 million in 2018. Her most notable philanthropic commitment to date has been a $100 million pledge to Mercersberg Academy, a private boarding school she attended in Pennsylvania. Simon also chairs the board of the Simon Youth Foundation, an organization founded by Simon Property Group employees to reduce dropout rates and increase access to college.

10. Richard Uihlein

The ULine founder is a longstanding conservative donor whose contributions to super PACs and similar entities jumped up to over $19 million in 2016. In 2018, that total was even higher: over $37 million. Uihlein’s 2020 contributions come out to around $4.5 million so far, including significant sums to super PACs like Club for Growth Action, Restoration PAC and America First Action. Interestingly, the anti-big government Club for Growth Action ran ads against Donald Trump in the 2016 cycle, citing the candidate’s support for ostensibly liberal policies.

Uihlein’s philanthropy reflects his politics. Between 2013 and 2016, Richard and Elizabeth Uihlein donated over $40 million through the Ed Uihlein Family Foundation, much of which went to conservative and libertarian nonprofits. Just a few recipients include the American Enterprise Institute, Americans for Prosperity, the Intercollegiate Studies Institute, and the Philanthropy Roundtable. The Uihleins have also contributed significant resources to the Illinois Policy Institute, one of a network of conservative think tanks operating at the state level to nudge the policy debate in a rightward direction.

11. Jeff Yass

Susquehanna International Group co-founder Jeff Yass began giving big to conservative super PACs in the 2016 cycle, beginning with a $2.5 million commitment to get Rand Paul elected. In 2018, the options trader followed that up with around $7 million to conservative outside spending groups. His first major commitment in the 2020 cycle was $2,098,000 to the Protect Freedom PAC, a super PAC “founded for the purpose of supporting pro-freedom and liberty-minded candidates” and run by former Ron and Rand Paul staffers. Yass has also given $2 million to the Club for Growth’s super PAC.

On the philanthropic front, Yass and his wife Janine have been staunch education reform advocates, especially in their hometown of Philadelphia. Freedom-oriented political advocacy is another focus. Yass is a longtime board member of the Cato Institute and has played a leadership role at the Claws Foundation. He’s also a supporter of free market nonprofits like Cato, the Institute for Justice and the Mercatus Institute. Yass collaborates with fellow Susquehanna co-founders Joel Greenberg and Arthur Dantchik as both a political and philanthropic donor.

12. Paul Singer

Hedge funder and Giving Pledge signatory Paul Singer went to bat hard for Republicans in 2016, spending over $24 million to support Donald Trump and swing Washington right. He kept up the push in 2018 with over $5 million in contributions to outside spending groups. Singer has already put in over $3.7 million this cycle to boost conservative candidates.

Singer is an interesting figure. His son Andrew is gay, and one of the causes he supports through the Paul E. Singer Foundation is LGBTQ rights. He even created the American Unity super PAC to support pro-LGBTQ Republicans. Other priorities include Jewish and pro-Israel causes and cancer research. On the political side of things, Singer’s philanthropy benefits free-market advocacy through grantees like the Manhattan Institute. The foundation’s grantmaking totaled around $25 million in 2017.

13. Steven Spielberg

The iconic filmmaker is a relative newcomer to big-time outside spending. In 2018, he gave around $1.5 million to a number of liberal super PACs, and he’s upping the ante this cycle with $3.5 million contributed so far. Spielberg and his wife Kate Capshaw have written big checks to a number of Democratic mainstay PACs like American Bridge 21st Century, Senate Majority PAC and Priorities USA Action. They’ve also given $1 million so far to PACRONYM, the super PAC associated with left-wing communications outfit ACRONYM.

With a net worth of around $3.7 billion, Spielberg has prioritized Jewish causes in his philanthropy. He started the Righteous Persons Foundation with profits from Schindler’s List and funds anti-hate work through both that vehicle and the USC Shoah Foundation. Spielberg’s other philanthropic interests include health issues (he has supported Planned Parenthood of Los Angeles), education, and the arts, which he often funds through another philanthropic vehicle, the Wunderkinder Foundation.

14. Seth A. Klarman

Known occasionally as the “Oracle of Boston,” Klarman has amassed a hedge fund fortune totaling around $1.5 billion. Unlike most of the other big donors on this list, he’s known to support Democrats and Republicans, though his political giving has swung blue in a major way since Trump’s election. He has given $3.5 million so far to a number of popular super PACs among liberal donors in 2020, including the House and Senate Majority PACs, Priorities USA Action and PACRONYM.

Seth and his wife Beth conduct their giving through the Klarman Family Foundation. It’s a fairly sizable grantmaker with over $600 million in assets and just over $60 million in grantmaking in 2018. Jewish causes tend to get a lot of support, as does health research and various service organizations in greater Boston. The foundation also maintains a democracy-focused program area, and its recent giving reflects Klarman’s stated belief that “democracy is at stake” in the Trump era. He gave nearly $14 million in “healthy democracy” grants in 2018, including contributions to the Anti-Defamation League, the Campaign Legal Center, NEO Philanthropy, ProPublica, and over $5 million to support the New Venture Fund’s voter engagement work.

15. Ron Cameron

Cameron’s grandfather Guy founded the Arkansas feed business that grew into Mountaire Farms, one of the largest poultry producers in the country. He’s a major donor on the Christian right, initially backing Mike Huckabee in 2016. This cycle, Cameron has directed $2.8 million so far to a number of super PACs backing Republicans. He donated around $5.6 million to conservative outside spending groups in 2018 and previously supported the Koch-aligned 501(c)(6) Freedom Partners before its dissolution last year.

Ron Cameron conducts his philanthropy through a foundation called the Jesus Fund. True to the name, Christian organizations and conservative advocacy are its primary beneficiaries. This is a big funder, especially in the conservative sphere—its assets top $300 million and it paid out $18 million in 2018. That entire sum went to the National Christian Foundation (NCF), whose DAF offerings give funders on the right cover to support controversial causes anonymously. Given Cameron’s political bent, it’s more than likely his NCF funding finds its way to major conservative advocacy nonprofits like the Alliance Defending Freedom, which got $250,000 from the Jesus Fund in 2015. In 2017, Cameron directed $13 million to NCF through the Jesus Fund, as well as nearly $6 million to Doulos Ministries, a Christian missionary organization.

16. Bernard Marcus

The 90-year-old co-founder of Home Depot may have retired in 2002, but that did little to stop calls to boycott the retailer after Marcus announced his intention to back Donald Trump’s 2020 bid. His plans should have come as little surprise, seeing as he contributed to conservative and pro-Trump organizations to the tune of over $11 million in 2016 and kept up the fight in 2018 with another $6.5 million. His 2020 political spending to date totals $2.75 million, money benefiting super PACs bent on swinging both houses of Congress in a conservative direction.

Bernie and Billi Marcus were among the first Giving Pledge signatories. They’ve taken it seriously in recent years, ramping up their giving through the Marcus Foundation from around $89 million in 2015 up to around $150 million in 2017. A lot of money’s going out the door, but the Marcus Foundation keeps a low profile, striving after a lean funding ethos to match Home Depot’s thrifty DIY mentality. While it’s clear some of that cash operates adjacent to politics—Marcus’ dedication to pro-Israel causes comes to mind, as does his staunch support for free enterprise—much of it comprises gifts to apolitical destinations. The Georgia Aquarium, for instance, is very much a product of the home improvement tycoon’s philanthropy; he’s given hundreds of millions of dollars for its creation and operation. Other focus areas include children, healthcare and medical research.

The Path to November

This is a developing story. More donors will arrive on the scene as Election Day draws closer, and those on this list may deploy new philanthropic gifts alongside their political contributions. Where, for instance, is Sheldon Adelson? The Vegas tycoon spent truly lavish sums over the last two cycles to get Trump elected and preserve Republicans’ grip on power, with over $77 million in outside spending contributions in 2016 and a whopping $122 million in 2018. Another name we expect to see at some point is Renaissance Technologies co-founder Jim Simons, a veteran Democratic donor whose outside contributions in 2018 totaled over $20 million.

In general, the names on this list are fairly consistent from cycle to cycle. Many of the same people support the top super PACs on either side, and even the political turmoil of the past several years hasn’t done much to upset those patterns. Still, it’s important to remember that this data is incomplete. Outside spending donors are only one piece of the puzzle. Harder to track is the river of unaccountable “dark money” flowing to political nonprofits that advocate for policy, rally voters and organize the grassroots.

Investors and financiers are heavily represented on this list, on both sides of the aisle. Conspicuously absent are figures from tech. It’s more than likely that political money from tech philanthropists is flowing along less-visible channels, given the affinity among people like Zuckerberg, Gates and Omidyar for hybrid giving vehicles. There are quite a few more liberals than conservatives in the top tier of political donors right now, a situation that reflects widespread doubts about Donald Trump among many of the super-rich.

Finally, it’s interesting to note that there’s no clear liberal-conservative divide in terms of how much political “strategy” these donors apply to their philanthropy. The top two names, Steyer and Bloomberg, famously align their philanthropy to their liberal politics. So do conservatives like Richard Uihlein and Jeff Yass. Moving down the list, philanthropy and political spending do appear to diverge more quickly among the liberals than the conservatives, fitting the narrative that right-wing philanthropy has the edge on strategic effectiveness. But it’s hard to tell. As long as c4s, DAFs and other dark money destinations don’t need to disclose their donors, this space will remain in many ways a black box.

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