According to reports, George Soros, a prominent Democrat powerplayer, is the biggest individual contributor to the midterm political campaigns of this year. His contributions of over $126 million are almost double that of the next two largest individuals.
Here are the largest donors so far in the 2022 midterms:
– George Soros: $120 million
– Elizabeth and Richard Uihlein: $80 million
– Ken Griffin of Citadel: $70 million
– Sam Bankman of FTX: $50 million
– Michael Bloomberg: $20 million pic.twitter.com/MmnRrCs8g9
— unusual_whales (@unusual_whales) November 7, 2022
Kenneth C. Griffin and Richard Uihlein, both Republicans, are next with around $67 million in donations. Their contributions were analyzed by the New York Times' Open Screts.org.
The newspaper claims that the total amount of donations that George Soros made was "deceptive." He mainly gave his contributions to his political action committee, which only spent roughtly $15 million of it.
The newspaper noted that political spending during the midterm elections will likely shatter records.
The report noted that the increasing number of billionaires is driving the record political spending. Most of it comes from super political groups, which are funded by the Republican mega-donors.
According to Sheila Kromholz, the executive director of Open Secrets, the group has broken several records.
Open Secrets estimated that the total spending on the campaigns and political activities in 2021 and 2022 will reach $16.7 billion. This would surpass the previous record of $14 billion set in 2018.