The men who own the GOP
Quote:Have you heard of William Dore, Foster Friess, Sheldon Adelson, Harold Simmons, Peter Thiel or Bruce Kovner? If not, let me introduce them to you. They’re running for the Republican nomination for president.
I know, I know. You think Rick Santorum, Newt Gingrich, Ron Paul and Mitt Romney are running. They are – but only because the people listed in the first paragraph have given them huge sums of money to do so. In a sense, Santorum, Gingrich, Paul and Romney are the fronts. Dore et al. are the real investors.
According to January’s Federal Election Commission report, William Dore and Foster Friess supplied more than three-fourths of the $2.1 million raked in by Rick Santorum’s super PAC in January. Dore, president of the Dore Energy Corp. in Lake Charles, La., gave $1 million; Freiss, a fund manager based in Jackson Hole, Wyo., gave $669,000 (he had given the Santorum super PAC $331,000 last year, bringing Freiss’ total to $1 million).
Sheldon Adelson and his wife, Miriam, provided $10 million of the $11 million that went into Gingrich’s super PAC in January. Adelson is chairman of the Las Vegas Sands Corp. Texas billionaire Harold Simmons donated $500,000.
Peter Thiel, co-founder of PayPal, provided $1.7 million of the $2.4 million raised by Ron Paul’s super PAC in January.
Mitt Romney’s super PAC raised $6.6 million last month – almost all from just 40 donors. Bruce Kovner, co-founder of the New York-based hedge fund Caxton Associates, gave $500,000, as did two others. David Tepper of Appaloosa Management gave $375,000. J.W. Marriott and Richard Marriott gave a total of $500,000. Julian Robertson, co-founder of hedge fund Tiger Management, gave $250,000. Hewlett-Packard CEO Meg Whitman gave $100,000.
Bottom line: Whoever emerges as the GOP standard-bearer will be deeply indebted to a handful of people, each of whom will expect a good return on their investment.
“Any fool can criticize, condemn and complain and most fools do.”