Clinton's Campaign Money: Attorneys And Hedge Funds Are Crucial
A recent article published in Germany's Handelsblatt newspaper looked into the correlation between how much money U.S. presidential candidates raised and their success level. The findings revealed that, since Reagan’s victory in 1980, budget winners became election winners. So, one conclusion can be drawn here: Financing is crucial to U.S. presidential candidates.
For the ongoing presidential race, Hillary Clinton has managed to raise almost four times more money than Donald Trump. So, one question arises: Where is this money coming from?
In a previous article – linked above, Benzinga looked into the contributions of a pro-Clinton Super PAC, which includes a bunch of billionaires like Univision’s Haim Saban and David E. Shaw. But, who else is bankrolling Clinton’s campaign?
Well, for starters, there are hedge funds, which seem to have a strong preference for Clinton over Trump. According to a recent Wall Street Journal article, hedge fund owners and employees have donated roughly $122.7 million over this election cycle — which makes up for approximately 14 percent of all donations.
The Center for Responsive Politics made the effort to deconstruct this figure and came up with the following result: What is known for sure is that seven large hedge funds contributed a total of $48.5 million to pro-Clinton groups, while groups working on Trump’s behalf only got $19,000.
While Trump didn’t get much money from hedge funds, other Republican candidates did. In this line, Jeb Bush got $17 million, Marco Rubio received $15.2 million, Ted Cruz was backed by $14.3 million and Chris Christie saw $9.3 million in donations.
Another article, published on Bloomberg, took a close look at where campaign money came from. “Clinton, a graduate of Yale Law School, draws heavily from attorneys, while businessmen are the biggest backers of Trump,” the note read.
As can be seen in the chart above, attorneys are, by far, the largest contributors to Clinton’s campaign, having donated $24.7 million, more than triple what the runner-ups, homemakers, had given.
Editor's note: A previous version of this story said Ken Griffin's Citadel and Paul SInger's Elliot Management contributed to the Clinton campaign. This was incorrect.
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Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.
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