Who's Got The Money? It's Campaign Finance Filing Day
For many presidential candidates, it's the first time they've got to disclose numbers for their campaign finance reports. Bloomberg reporters are watching as they come in and providing you with highlights.
Hillary for America, 8:50 p.m. | Along with a campaign finance report showing $47.6 million in donations, Hillary Clinton's campaign also released the Democratic front-runner's bundlers, individuals who raised at least $100,000 for her. She is the first candidate to do so, though the Associated Press reports that Jeb Bush and Scott Walker plan to follow suit in the fall. The company whose employees gave the most money to Clinton: The law firm of Morgan & Morgan, whose attorneys include former Representative Mike Espy, a Mississippi Democrat who served as secretary of Agriculture under Bill Clinton. The firm's employees gave $257,566 to the Clinton campaign. She got more than $97,000 from employees of Yale University, where she and her husband graduated from law school. Despite her rhetoric against Wall Street, Clinton still got significant sums from financial firms. Employees of Goldman Sachs Group Inc. ponied up at least $49,000, and JPMorgan Chase & Co. more than $61,000.
Who gives money to a billionaire? 6:55 p.m. | Despite Donald Trump's frequent boasts about his wealth (according to personal financial disclosure forms filed Tuesday, he values himself at $10 billion, up $1.3 billion from a month earlier) notwithstanding, his campaign has attracted a few individual donors besides himself: 64 gave more than $200, the minimum amount that triggers requirements for donors to provide names and occupations, for a total of $53,075.
Another $39,174 came in the form of small donations, the kind that don't have to be itemized on the FEC form. That amount represents a little more than half the money that Trump spent at his own properties: The FEC filing lists $63,600 in expenses at the candidate's eponymous hotels and office buildings.
Trump supports Trump, 6:33 p.m. | Donald Trump loaned himself $1.8 million in the second quarter and raised $92,249 from individual donors. Trump, who formally announced his candidacy on June 16, has spent $1.4 million of the funds, $458 of it at McDonald's.
Huckabee's posse, 5:41 p.m. | Former Arkansas governor Mike Huckabee's supporters run the gamut from the (martial) arts to high finance. Chuck Norris, whose proficiency at karate and tae kwon do helped him to a career in the movies, donated $2,700 to the Republican presidential candidate's campaign. Norris campaigned for Huckabee when he ran in 2008. Other Huckabee donors include evangelical minister and author Tim LaHaye and NGN Capital managing general partner Ken Abramowitz.
Florida feud, 5:04 p.m. | Still waiting for Marco Rubio's report to drop, but at least a few legislators who served with him while he was speaker—Will Weatherford, Seth McKeel and Don Gaetz—all gave $2,700, the maximum amount, to Jeb Bush.
Adam Putnam, the state agriculture commissioner who is believed to be a leading Republican contender for the governor's office in 2016, also gave $2,700 to Bush.
Another max Florida donor for Bush: legendary Miami Dolphins coach Don Shula. That one may sting a bit for Rubio, who is such a big fan of the team that his fellow Republicans pitched in for season tickets for him before he stepped down from the speaker's office in 2008.
Bundling for Jeb, 3:39 p.m. | Eight lobbyists bundled a total of $228,400 in contributions in the second quarter for Bush. The bundlers included Dirk Van Dongen, president of the National Association of Wholesalers-Distributors; Ignacio Sanchez, a partner at DLA Piper; Al Cardenas, a senior partner at Squire Patton Boggs and former Florida Republican Party chairman; and Tom Loeffler, senior counsel at Akin Gump and former Texas congressman.
JEB 2016, 3:20 p.m. | Former Florida Governor Jeb Bush's campaign reported $11.43 million raised and $3.08 million spent after announcing his bid on June 15. Bush, who is worth about $20 million, gave $388,700 to his own effort.
Bernie 2016, 3:10 p.m. | Vermont Senator Bernie Sanders, who's mounted a surprisingly strong challenge to Hillary Clinton for the Democratic presidential nomination, proved his grassroots appeal with his fundraising report. More than two-thirds of the $15.2 million Sanders collected came in donations under $200. Sanders also transferred $1.5 million from his Senate campaign committee. Among his donors: Jon Fishman, the drummer for Phish. He gave $2,500. On the same day that Sanders reported his haul of small contributions, a Los Angeles fan formed a "Billionaires for Bernie" super PAC. So far, no donors.
Perry's notable donors, 2:45 p.m. | In addition to Troutt, Perry has backing from some deep-pocketed businessmen:
- Kenneth Abramowitz, a Republican Jewish Conference donor and co-founder of health-care venture capital firm NGN Capital
- Tilman Fertitta, the billionaire CEO of Landry's Inc.
- Dean Spanos, chairman of the San Diego Chargers, and his brother Michael.
- August Busch of St. Peters, Missouri. That name belongs to several members of the Busch family that used to run the Anheuser-Busch brewery, now part of Anheuser-Busch Inbev.
- Several California auto dealers also gave to Perry, including Herbert Boeckmann, chairman and CEO of Galpin Motors, the top-selling Ford dealer in the U.S.
Perry For President, 2:03 p.m. | Former Texas Governor Rick Perry's campaign pulled in $1.08 million from donors in the second quarter. He's already spent more than half of it. Even if his grass roots effort lags, he'll still get a boost from three super PACs supporting him that have already raised almost $18 million between them. Among Perry's notable donors, billionaire telecommunications executive Kenny Troutt, a major Republican donor who supported Perry and Rick Santorum in the 2012 race.
O'Malley For President, 1:23 p.m. | Former Maryland Governor Martin O'Malley raised $2 million for his 2016 presidential bid arguing for the government to rein in Wall Street and to take aggressive action to combat climate change, his campaign said. His catch still leaves him far behind fellow Democrats Clinton and Sanders. Bill Hyers, a senior strategist for the campaign, said the money came from "donors across all 50 states."
Catch up, 12:30 p.m. | Looking to get caught up on what presidential candidates and their supporters said in the days after the quarter ended? Here's a chart showing what we know so far, much of it based on earlier releases by the candidates. When they file their paper work with the Federal Election Commission, we'll know not only how much they raised but who gave them the money.
Hillaryland in Jersey, 11:48 a.m. | A passel of former and current Clinton advisers have helped Democratic House candidate Josh Gottheimer—who has worked as a speechwriter for former President Bill Clinton and an adviser to his wife, Democratic presidential candidate Hillary Clinton—raise a respectable $412,000 in the last quarter for his campaign to knock off Republican Representative Scott Garrett. The district is NJ-05, a bedroom community of New York City that should be competitive for Democrats on paper. Clintonians kicking in for Gottheimer include Paul Begala, a CNN contributor who worked for the former president's campaigns; Samuel Berger, who served as the former president's national security adviser; Guy Cecil, who's running Priorities USA Action, the pro-Hillary Clinton super-PAC; Greg Craig, the lawyer who successfully helped Bill Clinton avoid impeachment, and Mandy Grunwald, a longtime Hillary Clinton strategist. Also two former White House chiefs of staff for Bill Clinton: Erskine Bowles and Mack McLarty, and two former Clinton White House press secretaries: Mike McCurry and Joe Lockhart, along with Howard Wolfson, who once served as Hillary Clinton's press secretary and now works for Bloomberg Philanthropies.
Billionaires for Bernie, 11:10 a.m. (updated) | Vermont Senator Bernie Sanders vows to target the billionaire class and not to take big money for his campaign for the Democratic presidential nomination. But candidates can't "coordinate" with super-PACs and that means they can't control what super-PACs do on their behalf. So today, one Eric Jacobson, who identifies himself as a Los Angeles lawyer, has filed papers to establish a super-PAC using the senator's name. Actually, if the committee is intended to aid the self-identified democratic socialist, the name will have to be changed. It's illegal for a super-PAC to use the name of a candidate. “Thank you for the heads up,” Jacobson told Bloomberg's Zachary Mider when asked about the legality of the name, adding that he would check with the FEC. “That is something I probably should have caught if it's true.”
Jindal for President, 10:15 a.m. | Louisiana Governor Bobby Jindal's campaign raised $597,000 in the second quarter, putting him behind many competitors. The low numbers aren't that significant, though, because the Republican only officially launched his campaign about one week before the quarter ended. Among his donors are former Representative Bob Livingston, shipbuilder Donald "Boysie'' Bollinger, real estate developer Joseph Canizaro, and Louisiana energy executive William Dore, who gave more than $2 million to super-PACs supporting Rick Santorum in the 2012 presidential race. Santorum is also running this year. Efforts to reach Dore to see whether he's switching candidates so far have been unsuccessful.
(Correction: This post has been updated with new numbers for Clinton's Wall Street contributors)
(Contributing: Zachary Mider, Tim Higgins, Sahil Kapur, Michael C. Bender, Max Abelson)
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.