In August, wealthy individuals made significant contributions to super PACs supporting Vice President Kamala Harris, former President Donald Trump, and various Democratic and Republican candidates across the country. The highest donations were made to MAGA Inc., a super PAC backing Trump, with Wisconsin roofing billionaire Diane Hendricks contributing $10 million. Howard Lutnick, CEO of Cantor Fitzgerald, and Paul Singer, President of Elliott Management, also gave $5 million each to MAGA Inc. Additionally, tech entrepreneurs were the top donors to FF PAC, which supports Harris’ presidential bid, with Facebook and Asana co-founder Dustin Moskovitz donating $3 million. Netflix co-founder Reed Hastings and Twilio co-founder Jeff Lawson and his wife, Erica, also made significant contributions.
Super PACs like MAGA Inc. and FF PAC are popular among wealthy donors, as they do not have donation limits like campaigns do. Further down the ballot, Club for Growth Action, a conservative super PAC backing GOP candidates, received two $5 million donations in August from Jeff Yass and Richard Uihlein. On the Democratic side, House Majority PAC, which supports Democratic Congressional candidates, received a $600,000 donation from Amos Hostetter Jr.
Overall, the August donations show a strong support from wealthy individuals towards various political campaigns and causes, highlighting the influence of money in U.S. politics.
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