More on Super PACs and Dark Money in th current election.
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The leading super PAC for Senate Republicans, the Senate Leadership Fund, raised an average of more than $1 million every day in the third quarter, bringing in $111 million, a huge infusion of funds that is already being used to pummel Democratic candidates on the airwaves in more than a half-dozen key Senate races.
. . . Federal records show the super PAC has already spent $148 million, as of Wednesday, to influence Senate races in Pennsylvania, Nevada, Georgia, Wisconsin, North Carolina, New Hampshire and Ohio.
. . . The Senate Leadership Fund has spent roughly double the amount as the leading Democratic super PAC devoted to Senate races, known as the Senate Majority PAC, but Democratic candidates in almost every key contest have out-raised Republican candidates.
The Republican super PAC declined to discuss who its biggest donors were in recent months, other than to say it received a $20 million transfer from an affiliated nonprofit group, One Nation, which does not disclose its contributors.
Through June, the super PAC’s two biggest disclosed contributors had been two Wall Street chief executives: Stephen A. Schwarzman of Blackstone and Kenneth Griffin of Citadel. Each had given $10 million.
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- Super PACs: A super PAC is a political committee that can solicit and spend unlimited sums of money. A super PAC cannot contribute directly to a politician or political party, but it can spend independently to campaign for or against political figures.
- The Senate Leadership Fund: The Senate Leadership Fund is a super PAC that was founded to support a Republican majority in the United States Senate. As of July 2020, the group was led by Steven Law, Senate Majority Leader Mitch McConnell's (R-Ky.) former chief of staff.
- Dark Money: “Dark money” refers to spending meant to influence political outcomes where the source of the money is not disclosed.
- One Nation: is a dark money group run by Karl Rove's top operatives who run Crossroads GPS and American Crossroads.[1] According to the organization's website "One Nation is a 501(c)(4) organization that will utilize paid communications, public opinion research and grassroots-level advocacy to shape attitudes on major issues and mobilize citizens to take action by contacting and interacting with policymakers in Washington."
- Stephen A. Schwarzman: is an American billionaire businessman and philanthropist. He is the chairman and CEO of The Blackstone Group, a global private equity firm he established in 1985 with former chairman and CEO of Lehman Brothers and US Secretary of Commerce Peter G. Peterson. Schwarzman was briefly chairman of President Donald Trump's Strategic and Policy Forum.
- Blackstone: is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone is also active in credit, infrastructure, hedge fund solutions, insurance solutions, secondaries and growth equity. As of Q2 2022, the company's total assets under management were approximately US$940 billion, making it the largest alternative investment firm globally.
- Kenneth Griffin: an American hedge fund manager, entrepreneur and investor. He is the founder, chief executive officer, co-chief investment officer, and 80% owner of Citadel LLC, a multinational hedge fund. He also owns Citadel Securities, one of the largest market makers in the U.S.
- Citadel: is an American multinational hedge fund and financial services company. Founded in 1990 by Kenneth C. Griffin, it has more than US$50 billion in assets under management as of May 2022. The company has over 2,600 employees, with corporate headquarters in Miami, Florida,
- Dark Money: “Dark money” refers to spending meant to influence political outcomes where the source of the money is not disclosed.
- One Nation: is a dark money group run by Karl Rove's top operatives who run Crossroads GPS and American Crossroads.[1] According to the organization's website "One Nation is a 501(c)(4) organization that will utilize paid communications, public opinion research and grassroots-level advocacy to shape attitudes on major issues and mobilize citizens to take action by contacting and interacting with policymakers in Washington."
- Stephen A. Schwarzman: is an American billionaire businessman and philanthropist. He is the chairman and CEO of The Blackstone Group, a global private equity firm he established in 1985 with former chairman and CEO of Lehman Brothers and US Secretary of Commerce Peter G. Peterson. Schwarzman was briefly chairman of President Donald Trump's Strategic and Policy Forum.
- Blackstone: is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone is also active in credit, infrastructure, hedge fund solutions, insurance solutions, secondaries and growth equity. As of Q2 2022, the company's total assets under management were approximately US$940 billion, making it the largest alternative investment firm globally.
- Kenneth Griffin: an American hedge fund manager, entrepreneur and investor. He is the founder, chief executive officer, co-chief investment officer, and 80% owner of Citadel LLC, a multinational hedge fund. He also owns Citadel Securities, one of the largest market makers in the U.S.
- Citadel: is an American multinational hedge fund and financial services company. Founded in 1990 by Kenneth C. Griffin, it has more than US$50 billion in assets under management as of May 2022. The company has over 2,600 employees, with corporate headquarters in Miami, Florida,
