Mayor Bloomberg Announces Multimillion Dollar Political Spending Campaign
Baku, November 1 (AZERTAC). With less than three weeks before the election, New York Mayor and billionaire Michael Bloomberg is opening his pocketbook and may become one of the biggest billionaire donors of the 2012 election cycle in the process.
In an effort to advocate for issues that he sees as hindered by partisan gridlock, the country’s richest political figure announced today that he is launching a nationwide campaign to spend an eight-figure sum, or more than $10 million, backing candidates from both parties.
According to the most recent data from the Federal Elections Commission, only two other billionaires, GOP-backers Sheldon Adelson and Harold Simmons, have spent eight-figure sums on this election. Adelson has spent about $36.25 million backing GOP presidential nominees and causes, while Simmons has given about $15.74 million to conservative groups including super PACs Restore Our Future and American Crossroads. If Bloomberg does spend eight-figures as he intends, he could easily be one of the biggest billionaire donors of this election cycle.
FORBES estimates on political giving are based on publicly available documents through the Federal Election Commission. Based on current disclosure practices, political donations can also be funneled through nonprofits that do not have to disclose their benefactors. It’s possible there are billionaires out there who’ve donated more than Bloomberg, Adelson and Simmons have through tax-exempt nonprofits that don’t require disclosure.
A spokesperson for Mayor Bloomberg’s office did not respond immediately to requests for comment.
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