5 Politicians Bankrolled by Huge Companies




  • In Business
  • 2021-04-07 17:14:20Z
  • By GOBankingRates
chrisdorney / Shutterstock.
chrisdorney / Shutterstock.  

In 2010, the U.S Supreme Court issued its ruling in Citizens United v. Federal Election Commission. It said that political donations were a form of political speech, so limiting corporate campaign contributions would be a restriction of speech. America's corporations have been exercising that speech ever since.

Using data from OpenSecrets.org, here's a look at who has loudly and proudly, or subtly and pragmatically, supported leading politicians through campaign donations:

Find Out: 10 Companies Making Massive Donations to Political Campaigns

Mandatory Credit: Photo by Michael Brochstein/SOPA Images/Shutterstock (10581724h)Former Vice President Joe Biden speaks about the Coronavirus and the response to it at the Hotel Du PontJoe Biden, US Presidential Election Campaiging, Wilmington, USA - 12 Mar 2020.
Mandatory Credit: Photo by Michael Brochstein/SOPA Images/Shutterstock (10581724h)Former Vice President Joe Biden speaks about the Coronavirus and the response to it at the Hotel Du PontJoe Biden, US Presidential Election Campaiging, Wilmington, USA - 12 Mar 2020.  

Joe Biden, President of the United States

The largest corporate donor to his 2020 election campaign was Bloomberg, L.P., which contributed $93,848,522. This is above the net worth cutoff of the top 0.1% of the U.S. population. The next largest corporate campaign donor was the Paloma Partners at $9,016,308.

See: Corporate America Hits Republicans Who Opposed Election Certification Right Where It Hurts - in the PAC

Mandatory Credit: Photo by Paul Hennessy/SOPA Images/Shutterstock (11783909c)Former President Donald Trump addresses attendees at the 2021 Conservative Political Action Conference (CPAC) at the Hyatt Regency.
Mandatory Credit: Photo by Paul Hennessy/SOPA Images/Shutterstock (11783909c)Former President Donald Trump addresses attendees at the 2021 Conservative Political Action Conference (CPAC) at the Hyatt Regency.  

Donald Trump, Former President of the United States

The top GOP corporate donor to Donald Trump's 2020 campaign was the Las Vegas Sands hotel and casino, owned by his friend Sheldon Adelson. It contributed $45,010,542. Next up was the Adelson Clinic for Drug Abuse Treatment & Research, founded by Sheldon Adelson, which contributed $45,005,600. The largest public company on the campaign donation list was Walt Disney Co. (NYSE: DIS), which contributed $10,589,052.

Check Out: Google Halts Donations to Republicans Who Voted Against Election Results

Mandatory Credit: Photo by Shutterstock (10525945t)United States Senate Majority Leader Mitch McConnell (Republican of Kentucky) speaks to members of the media following policy luncheons at the United States Capitol in Washington DC.
Mandatory Credit: Photo by Shutterstock (10525945t)United States Senate Majority Leader Mitch McConnell (Republican of Kentucky) speaks to members of the media following policy luncheons at the United States Capitol in Washington DC.  

Mitch McConnell (R-Ky.), Senate Minority Leader

Although Mitch McConnell wielded about as much power as the president in recent years, his 2020 re-election campaign in Kentucky was considerably less expensive than a nationwide presidential race. His campaign's two largest corporate donors were tobacco producer Altria Group (NYSE: MO), which gave a total of $142,635, and United Parcel Service (NYSE: UPS), which gave a total of $142,570.

Mandatory Credit: Photo by Shutterstock (10593676da)United States Senate Minority Leader Chuck Schumer (Democrat of New York) speaks during a news conference at the United States Capitol.
Mandatory Credit: Photo by Shutterstock (10593676da)United States Senate Minority Leader Chuck Schumer (Democrat of New York) speaks during a news conference at the United States Capitol.  

Chuck Schumer (D-N.Y.), Senate Majority Leader

Chuck Schumer isn't up for reelection until 2022, so his campaign's 2020 contributors aren't as big as Mitch McConnell's. The largest were New York Life Insurance, with $70,783, and Metlife (NYSE: MET), with $38,231.

Find Out: 6 Secret Ways Money Makes Fair Elections Rarer Than Ever

Mandatory Credit: Photo by Shutterstock (10502369l)United States Representative Matt Gaetz (Republican of Florida) listens during opening statements as the US House Committee on the Judiciary begins its markup of House Resolution 755, Articles of Impeachment against President Donald Trump, in the Longworth House Office BuildingPresident Trump impeachment inquiry, Washington DC, USA - 11 Dec 2019.
Mandatory Credit: Photo by Shutterstock (10502369l)United States Representative Matt Gaetz (Republican of Florida) listens during opening statements as the US House Committee on the Judiciary begins its markup of House Resolution 755, Articles of Impeachment against President Donald Trump, in the Longworth House Office BuildingPresident Trump impeachment inquiry, Washington DC, USA - 11 Dec 2019.  

Matt Gaetz (R-Fla.), House of Representatives

It costs less to run for the House than for the Senate. The current darling of the political gossip sites raised $1.5 million for his re-election run, with the largest campaign donations being $25,200 from Equity Group Investments and $15,500 from L3Harris Technologies.

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This article originally appeared on GOBankingRates.com: 5 Politicians Bankrolled by Huge Companies

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