Billionaire liberal donors have outdone their Republican-aligned counterparts in outside spending on the midterm elections, a reversal from past elections and an uncomfortable fact for Democrats who have decried such spending.
The Sunlight Foundation reported Friday that three of the top five donors to super PACs are liberal billionaires who have supported Democrats in the midterm elections.
The group is led by Tom Steyer, the hedge fund manager and environmentalist who alone has spent $70 million supporting Democratic candidates in the 2014 cycle, more than three times the amount spent by the next biggest spender.
Overall, Democratic super PAC contributions have outstripped Republican contributions by roughly $65 million, according to the figures compiled by the Sunlight Foundation’s Real-Time Federal Campaign Finance tracker.
Michael Bloomberg has been the second most generous donor, shelling out $20 million to super PACs. The former New York mayor, who left the Republican Party to become an independent, now mostly gives to groups aligned with Democratic candidates.
The investor Paul Singer has spent $9 million on GOP groups, with the hedge fund manager Robert Mercer contributing another $8 million. Rounding out the top five is Fred Eychaner, the Chicago-based media entrepreneur who has given $8 million to Democratic super PACs this cycle.
Sheldon Adelson, the casino mogul who with his wife spent $92 million in 2012 trying to defeat President Obama, has so far spent only $5 million trying to influence the midterm elections, according to the Sunlight Foundation’s data.
Super PAC spending has become an important factor in overall campaign finance following the 2010 Citizens United decision that loosened restrictions on political spending by outside groups that can raise unlimited amounts from donors.
The 2014 cycle is on track to be the first in which Republican-aligned donors are outspent by liberals, many of whom have criticized the Citizens United ruling and the influence of billionaires on politics.
The Federal Election Commission data reviewed by the Sunlight Foundation does not account for so-called “dark money” spent on political nonprofits that are not required to disclose their donors and that appear to be an increasing factor in election advertising.
