Billionaires poured millions of dollars into presidential super PACs in August
The nation's wealthy opened their wallets in August with a focus on election season, donating millions to the super PACs backing Vice President Kamala Harris, former President Donald Trump and Democrats and Republicans throughout the country, according to monthly reports filed with the Federal Election Commission on Friday.
The largest single-contributor donations went to MAGA Inc., the super PAC backing Trump, with Wisconsin roofing billionaire Diane Hendricks, a prolific GOP megadonor, giving $10 million to the group.
Howard Lutnick, the CEO of the financial services company Cantor Fitzgerald, and Paul Singer, the president of Elliott Management, an investment management firm, both gave $5 million to MAGA Inc.
Annette Caldwell Simmons, the widow of businessman Harold Simmons, gave $2 million to MAGA Inc., while Warren Stephens, the CEO of investment bank Stephens Inc., gave $1 million.
On the Democratic side, tech entrepreneurs were the biggest donors to FF PAC, also known as Future Forward, a super PAC backing Harris' presidential bid.
The biggest donors to the group in August were Facebook and Asana co-founder Dustin Moskovitz, Netflix co-founder Reed Hastings and Twilio co-founder Jeff Lawson and his wife, Erica.
Moskovitz donated $3 million to FF PAC, while Hastings, Jeff Lawson and Erica Lawson each gave $1 million.
Hastings, who is a major backer of Democrats, was one of the biggest Democratic donors to publicly call for President Joe Biden to step aside from his re-election campaign earlier this year.
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The reports out Friday only included donations from Aug. 1 through Aug. 31, the first full month that Harris was the presumptive — and later official — Democratic presidential nominee.
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