Liberal Donors Keep Bankrolling GoP Voters Against Trump Campaign

A quartet of wealthy donors with strong ties to progressive causes are paying $50 million in battle against former president.

A nominally Republican group continues to get the majority of its funding from progressive donors.

On April 15, the Republican Accountability PAC filed its quarterly statement with the Federal Election Commission.

Those disclosures showed that four donors, Reid Hoffman, Seth Klarman, Susan Mandel, and Gordon Gund, contributed most of the money the political action committee received in the first three months of 2024.
The PAC is funding a $50 million campaign called “Republican Voters Against Trump,” which will broadcast advertisements in Arizona, Georgia, Michigan, Nevada, Pennsylvania, and Wisconsin in 2024.

Those messages will feature former Republican voters who no longer support former President Donald Trump.

The Epoch Times previously reported that the group is primarily bankrolled by Democratic Party megadonors and led by so-called “Never Trump” Republicans.

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According to the April quarterly filing, the PAC had about $12 million in cash on hand at the end of March.

In the first quarter of 2024, it raised about $6.4 million and spent $721,000. It also reported about $237,000 in debts.

The new disclosure statements show that Mr. Hoffman and Mr. Klarman, who already donated $5 million to the PAC, contributed another $4 million to the group in the first quarter.

Another donor joined them, Ms. Mandel, who donated $1 million to the cause.

LinkedIn Chairman Reid Hoffman at the Web 2.0 Expo in San Francisco, Calif. on March 30, 2011. (Justin Sullivan/Getty Images)
LinkedIn Chairman Reid Hoffman at the Web 2.0 Expo in San Francisco, Calif. on March 30, 2011. (Justin Sullivan/Getty Images)

Reid Hoffman

Mr. Hoffman is a prolific Democratic Party donor. New disclosures show he sent $6 million to a hybrid PAC, FF PAC, supporting President Biden’s reelection effort in March.

He gave $2 million to the Republican Accountability PAC in January.

The founder of LinkedIn Corp., now a partner at venture capital firm Greylock Partners, Mr. Hoffman spent more money on progressive causes in 2024 than any other supporter.

According to donor rankings maintained by watchdog group OpenSecrets, Mr. Hoffman is the sixth-largest donor in terms of dollars spent and the biggest backer of liberal candidates and causes.

Seth Klarman

Mr. Klarman, the CEO and portfolio manager at hedge fund The Baupost Group, gave $2 million to the Republican Accountability PAC in February.

Mr. Klarman is a consistent Democratic Party donor who regularly gives more than $1 million in gifts to Democrat causes and PACs.

According to OpenSecrets donor records, Mr. Klarman gave a combined $5 million to the House Majority PAC and Senate Majority PAC between 2018 and 2022 and donated small amounts to numerous Democrat candidates in 2023.

Susan Mandel

Ms. Mandel, a director of the ZOOM Foundation, co-founder of Moms Clean Air Force, and trustee of the Environmental Defense Fund, gave $1 million to the PAC in January.

Ms. Mandel is the wife of Stephen Mandel, the founder of the investment firm Lone Pine Capital.

According to its 2022 tax records filed with the IRS, the foundation received $4 million from the Mandels in 2022. Moreover, the foundation holds more than $1.2 billion in assets.

According to donor records maintained by OpenSecrets, both Mandels are regular, multimillion-dollar donors to progressive and Democratic Party causes.

Gordon Gund

Mr. Gund, an heir to the Gund family fortune, is a former co-owner of the National Hockey League’s San Jose Sharks and principal owner of the National Basketball Association’s Cleveland Cavaliers.

He is currently the CEO of Gund Investment Co.

In January, Mr. Gund sent $750,000 to the Republican Accountability PAC.

Mr. Gund previously sent $900,000 to the Republican Accountability PAC in 2022, according to donor records maintained by OpenSecrets.

He has given significant, but not million-dollar, gifts to both Republican and Democrat groups in the past decade.

Original News Source Link – Epoch Times

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