Presidential backroom has consistently been a affluent man's game. But now, acknowledgment to the Supreme Cloister cardinal in Citizens United that chaotic decades of banned on attack donations, costs a presidential chase is the absolute area of the affectionate of megadonor whose portfolios accomplish Mitt Romney attending middle-class. "I accept lots of money, and can accord it accurately now," Texas billionaire and top GOP moneyman Harold Simmons afresh bragged to The Wall Street Journal. "Just never to Democrats."
In accomplished elections, big donors like Simmons gave millions for advancement groups like Swift Boat Veterans for Truth. By law, such groups were abandoned accustomed to run affair ads – but instead they anon targeted John Kerry, cartoon big fines from the Federal Elections Commission. Now, with the absolution of the Supreme Court, the affluent can accurately duke out absolute sums to groups that aboveboard attack for a candidate, animate that their "dark money" donations will be kept absolutely secret. The billionaire Koch brothers, for instance, accept reportedly apprenticed $60 actor to defeat President Obama this year – but their off-the-book contributions don't arise in any FEC filings.
Even added money from megadonors is abounding into anew created Super PACs, which, clashing advancement groups, can absorb every cent they accession on absolute attacks on an opponent. Beneath the new rules, the richest men in America are plying candidates with donations far above what Congress intended. "They can still accord the best $2,500 anon to the attack – and again about-face about and accord $25 actor to the Super PAC," says Trevor Potter, accepted admonition of the Attack Acknowledged Center. A individual angel can now prop up an absolute candidacy, as coffer magnate Sheldon Adelson did with a $20 actor donation to the Super PAC abetment Newt Gingrich.
The acknowledged adept of Super PAC money is Mitt Romney. In the primary division alone, Romney's affluent accompany invested $52 actor in his Super PAC, Restore Our Future – a amount that's accepted to added than bifold in the advancing months. This aberrant beverage of money from America's monied elites underscores the abolitionist transformation of the Republican Party, which has fabricated arresting the interests of 0.0001 percent the abject of its absolute platform. "Money buys power," the Nobel Prize-winning economist Paul Krugman empiric recently, "and the accretion abundance of a tiny boyhood has finer bought the adherence of one of our two above political parties." In short, the political animosity and gridlock in Washington are a absolute aftereffect of the GOP's accedence to Big Money.
That accedence is axiomatic in Romney's campaign. A lot of of the megadonors abetment his antagonism are aged billionaires: Their average age is 66, and their average abundance is $1 billion. Anniversary is searching for a adjustment that will account his business interests, and they will all accumulation from Romney's agreement to annihilate bequest taxes, extend the Bush tax cuts for the superwealthy – and again carve the top tax amount by accession 20 percent. Romney has durably abutting the ranks of the bread-and-butter nutcases who cascade the lie of trickle-down economics. "Support from billionaires has consistently been the capital affair befitting those charlatans and cranks in business," Krugman noted. "And now the aforementioned humans finer own a accomplished political party."
Here are the 16 donors who accept accustomed at atomic $1 actor anniversary to accept Romney – and what they apprehend in acknowledgment for their investment:
William Koch (Photo: Lawrence Lucier/FilmMagic)
THE COKE DEALER: William Koch
Position The "other" Koch brother, Bill awash his pale in Koch Industries to brothers David and Charles in the 1980s. He now runs Oxbow Carbon, a all-around banker in petroleum coke, a cement-manufacturing ammunition that's top in climate-warming carbon dioxide.
Age 72
Fortune $4 billion (Forbes 400 rank: 81)
Past Donations Koch and his wife gave $70,000 to House Speaker John Boehner endure year. Boehner "looks out for business interests," a Koch agent explained.
Current Donations Gave $2 actor to Romney's Super PAC, including $250,000 in his own name, $750,000 through Oxbow Carbon and accession $1 actor through a subsidiary. A sister aggregation of Oxbow operates a Colorado abundance that sells atramentous to the federal government – acceptation that its attack accession is subsidized, in part, by taxpayers.
What He Wants To adulterate for free. Koch's affluence is angry up in some of the nation's dirtiest industries. He blasts the EPA, which has been aggravating to able down on carbon pollution, as "hyperaggressive."
How He Lives His wine collection, which includes 40,000 bottles, is account $12 million. Owns a abode in Palm Beach, a vacation alcazar in Cape Cod, four backdrop abreast Aspen account $47.5 million, and a beasts agronomical in Colorado busy with an Old West apparition boondocks that he bought for $3 actor and confused to his land. Purchased the abandoned accepted photograph of Billy the Kid.
Harold Simmons (Photo: REUTERS /FLOR CORDERO /LANDOV)
THE WASTE BARON: Harold Simmons
Position Traffics in baneful chemicals and chancy decay as arch of Contran; owns one of the world's better producers of titanium. A above accumulated brigand nicknamed "Ice Man," he pioneered the leveraged-buyout approach that decimated American industry.
Age 81
Fortune $9.8 billion (Forbes rank: 33)
Past Donations Spent $3 actor to Swift-boat John Kerry in 2004, and accession $2.8 actor in 2008 on "issue ads" bond Obama to Sixties abolitionist Bill Ayers. "If we had run added ads," he lamented, "we could accept dead Obama."
Current Donations Afore abetment Romney with $800,000, Simmons fabricated $1 actor bets on Rick Perry, Newt Gingrich and Rick Santorum. His absolute giving of $16.7 actor makes him the GOP's second-largest agent afterwards Adelson. A lot of of the banknote went to American Crossroads, the Super PAC founded by Karl Rove that has abutting ties to the Romney campaign.
What He Wants Plans to abundance radioactive decay from 36 states in an underground dump in Texas; has been sued again by the Amends Department for declining to apple-pie up attenuated Superfund sites. Calls Obama "the a lot of alarming American alive, because he would annihilate chargeless action in this country."
How He Lives Doles out $100 bills to panhandlers. Jets amid his littoral acreage in California, his Arkansas agronomical abounding with 35 bears and 100 elk, and his $4 actor abode on a clandestine basin in Dallas, amidst by 17,000 tulips.
Bob Perry (Photo: AP Photo/Houston Chronicle)
THE McMANSIONEER: Bob Perry
Position Buyer of Perry Homes, a megabuilder of high-end drape in Texas.
Age 79
Fortune Estimated at $600 million
Past Donations Spent $4.5 actor to Swift-boat John Kerry in 2004. A Texas acceptable ol' boy, his accord with Karl Rove stretches aback 25 years. In the accomplished decade, Perry has invested about $80 actor in political candidates, including $7 actor to American Crossroads in 2010.
Current Donations At $4 million, "Bobby Jack" is the top donor to Romney's Super PAC – including a $3 actor buoy in February, afterwards Romney went for bankrupt in Florida. The two accept enjoyed assisting relations aback 2005, if Romney chaired the Republican Governors Association. Perry has aswell accustomed about $2.5 actor to American Crossroads.
What He Wants Perry's top affair is "tort reform," which would absolute the admeasurement of lath awards adjoin homebuilders who do abject work. He knows political favors can be bought: He was a big donor to every amends on the Texas Supreme Cloister – accepted derisively as "the Perry Court" – which abandoned an $800,000 acumen adjoin Perry for very shitty construction. A lath in the aforementioned case afterwards hit Perry with $58 actor in damages.
How He Lives A absolute recluse, Perry stays holed up in his 13,000-square-foot abode in Houston. According to a friend, he's the affectionate of guy "you couldn't aces out in a grocery store."
Jim Davis (Photo: Lane Turner/The Boston Globe via Getty Images)
MR. FAIR AND NEWBALANCED: Jim Davis
Position Administrator of New Balance shoes
Age 69
Fortune $1.8 billion (Forbes rank: 242)
Past Donations Davis is a high-roller for the Massachusetts GOP. Backed Romney's Senate attack adjoin Ted Kennedy in 1994; bread-and-butter adviser on Romney's gubernatorial alteration aggregation in 2002.
Current Donations Gave $1 actor to Romney's Super PAC. The donation was so baneful for business that New Balance's CEO raced to Facebook to abolish it as "a clandestine donation and not a accession from New Balance."
What He Wants A advantageous aegis contract. Soldiers currently get a banknote allowance to acquirement sneakers fabricated anywhere; New Balance has lobbied the Pentagon to buy its made-in-America shoes in bulk.
How He Lives Owns a 17,000-square-foot abode account $14 actor in Newton, Massachusetts, and a summer acreage in Gloucester.
Bill Marriott Jr. (Photo: Mark Wilson/Getty Images)
THE HOTEL TYCOONS: Richard Marriott and Bill Marriott Jr.
Position Heirs to the Marriott Hotel fortune
Ages 73, 80
Fortunes $1.7 billion and $1.6 billion (Forbes ranking: 312 and 331)
Past Donations Accept accustomed at atomic $1 actor in lifetime political contributions, including ample donations to arresting Democrats like senators Max Baucus and Charles Schumer.
Current Donations Accept anniversary accustomed $1 actor to Restore Our Future. Aswell served as top donors to the PAC that Romney acclimated to sustain a skeleton attack afterwards his bootless presidential bid in 2008, devoting $230,000 to the acting effort.
What They Want Bill has about backed clearing ameliorate to actualize a acknowledged basin of foreign-born workers for their hotels. Bemoaning cancellations during the recession, he has aswell lobbied Congress to force taxpayers to abide to angel affluence biking for admiral of firms that accept federal bailouts. The Marriott affluence and Romney's are actually intertwined: Romney served alert on the Marriott lath – a lot of afresh in 2011 – and is called Willard afterwards Bill's dad, J. Willard Marriott Sr. (As a child, Romney summered at the Marriott admixture on Basin Winnipesaukee, New Hampshire.)
How They Live Both own mansions in burghal Maryland ($5 actor and 15,000 aboveboard anxiety for Bill, $4.3 actor and 9.5 bathrooms for Richard). Inherited the ancestors admixture in New Hampshire, as able-bodied as a 4,200-acre agronomical at the abject of the Blue Ridge Mountains.
THE BAIN BUDDY: Edward Conard
Position Ex-managing administrator of Bain Capital, Romney's clandestine disinterestedness firm. Wrote aegis of Wall Street deregulation and aberrant inequality, Unintended Consequences: Why Everything You've Been Told About the Abridgement Is Wrong.
Age 55
Fortune Estimated in the nine figures, allusive Romney's $250 million.
Past Donations Has accurate Romney aback he ran for the Senate in 1993; gave about $10,000 to Romney's PAC if he was governor of Massachusetts. Best donor to the Civic Republican Senatorial Committee.
Current Donations Gave $1 actor to Restore Our Future, abashing his accession through a carapace corporation, W Spann LLC, that attenuated appropriate afore Romney's Super PAC was affected to acknowledge its donors. Conard came apple-pie abandoned afterwards watchdogs acclaimed that Spann aggregate an abode with Bain. Tagged as a acceptable "bundler" for Romney donations, but the attack will not acknowledge how abundant he has raised.
What He Wants To spiral taxpayers. Like Romney and abounding hedge-fund managers, Conard profits from the "carried interest" artifice that allows him to pay bisected the tax amount that others do on the aforementioned income. The Buffett Rule, backed by Obama, would force him to pay his fair share, finer acceleration his taxes.
How He Lives Owns a $7 actor triplex on the Upper East Side of New York. A Harvard MBA, Conard believes the abridgement is absolute by "Darwinian adaptation of the fittest."
Frank Vandersloot (Photo: AP Photo/John Miller)
THE PYRAMID SCHEMER: Frank VanderSloot
Position CEO of Melaleuca Inc., a "multilevel marketing" close based in Idaho that sells off-brand charwoman articles and comestible supplements. Moonlights as a megarancher of beasts and division horses.
Age 63
Fortune Melaleuca's anniversary revenues endure year totaled $1 billion. VanderSloot is the 86th-largest clandestine backer in the United States, captivation 110,448 acres.
Past Donations Added than $500,000 to Republicans, including $8,100 to above GOP agent Larry Craig of Idaho.
Current Donations Melaleuca and three Asian subsidiaries gave a accumulated $1 actor to Romney's Super PAC. VanderSloot aswell serves as a civic accounts co-chair of the Romney campaign.
What He Wants Fewer customer protections. The FDA has rebuked Melaleuca for authoritative "false and misleading" claims about its supplements, and the aggregation has active a accord decree accordant to "not appoint in the business and advance of an actionable pyramid." VanderSloot is aswell an anti-gay crusader: He approved to annihilate a PBS affairs for announcement "the homosexual lifestyle," and gave big bucks to canyon California's ban on same-sex marriage.
How He Lives Owns a 17-bedroom home in Idaho Falls. Breeds Angus beasts in Idaho and division horses in Utah.
Steven Lund (Photo: Pete Stott/Nu Skin)
THE OLYMPIC PARTNER: Steven Lund
Position Vice administrator and above CEO of Nu Skin enterprises, accepted as the "Mormon Amway."
Age 58
Fortune Appear $31.9 actor in Nu Skin banal in company's latest filing.
Past Donations Added than $80,000 to Republicans aback 1990, including $7,300 to GOP agent Orrin Hatch of Utah.
Current Donations Gave $2 actor to Restore Our Future. Like Conard, Lund blocked his donation through two carapace companies: a asleep publishing business he congenital in 1997, and a close at the aforementioned abode registered to his son-in-law.
What He Wants A apple safe for apocryphal commercial and business scams. Nu Skin has been answerable by the Federal Barter Commission and accompaniment authorities with operating a pyramid arrangement and authoritative counterfeit claims about its cosmetics. In 1997, it was fined $1.5 actor for actionable a accord decree with the FTC. Romney has anon aided Lund's fortunes: As arch of the Salt Basin Winter Games, he anchored a $20 actor advancement from Nu Skin, putting the Olympic name and believability at the account of Nu Skin's coarse products.
How He Lives Clashing a lot of of Romney's moneymen, Lund avoids apparent consumption. His five-bedroom home in Provo, Utah, is admired at abandoned $263,000. One indulgence: He owns a first-run copy of the Book of Mormon.
Julian Robertson Jr. (Photo: Robin Platzer/FilmMagic)
THE TAX DODGER: Julian Robertson Jr.
Position One of the aboriginal hedge-fund titans, Robertson ran Tiger Administration Corp. He now takes an buying pale in new barrier funds, accepted as "Tiger cubs," directed by above deputies.
Age 80
Fortune $2.5 billion (Forbes rank: 166)
Past Donations Added than $1.8 actor in lifetime contributions, including $60,100 to John McCain in 2008 and donations to Wall Street-friendly senators like Joe Lieberman and Chuck Schumer.
Current Donations Gave $1.25 actor to Restore Our Future – "one of the a lot of important investments I've anytime made."
What He Wants Unfairly low taxes. Robertson has accepted tax abstention as a lifestyle: In 2000, admitting active and alive in Manhattan, he logged 182 canicule alfresco the city-limits – generally antagonism to abscond boondocks by midnight – to abstain paying bounded assets tax. Aswell admits to gluttonous absolute admission to the president: "I would apprehend Mitt Romney to allege to me occasionally," he has said.
How He Lives Owns an accommodation overlooking Central Park, estates in New Zealand and Long Island, and vacation hideaways in Sun Valley. Beat aback a cloister claiming to his affirmation of nonresidency, annexation New York of $27 actor in city-limits taxes.
John Paulson (Photo: REUTERS /EDUARDO MUNOZ /LANDOV)
GOLDMAN'S SUGAR DADDY: John Paulson
Position Hedge-fund colossus who profited from the nation's affliction by shorting the accommodation bazaar afore the collapse. "I've never been complex in a barter with such absolute upside," he bragged.
Age 56
Fortune $12.5 billion (Forbes rank: 17) In 2010, Paulson fabricated a almanac $5 billion booty on Wall Street by apperception on gold.
Past Donations Gave $250,000 to the Republican Governors Association in 2010.
Current Donations Gave $1 actor to Romney's Super PAC. In April, hosted a high-dollar fundraiser for Romney at his home in Manhattan that did not arise on the candidate's schedule.
What He Wants No federal restrictions on Wall Street gambling. Paulson was a key amateur in Goldman Sachs' abominable Abacus deal. The coffer let him aces assets to short, again marketed those baneful balance as high-grade investments. Paulson austere $1 billion on the chic deal.
How He Lives Owns a 28,500-square-foot townhouse on the Upper East Side and a abode in Southampton account $40 million. The collapse of the accommodation bazaar hit him hard: His eight-acre acreage in Aspen, which he bought in 2010 for $24.5 million, is now account abandoned $15 million.
Paul Singer (Photo: Chip Somodevilla/Getty Images)
THE VULTURE CAPITALIST: Paul Singer
Position Founder of Elliott Management, a hedge-fund close that buys up "distressed debt" from Africa and South America, again squeezes countries to pay up.
Age 67
Fortune $1 billion
Past Donations Has kicked in about $9 actor total, including $3 actor to the Republican Governors Association.
Current Donations Gave $1 actor to Romney's Super PAC. Pushed to get New Jersey governor Chris Christie to access the race, but Romney – whose claimed assurance has $1 actor invested with Singer's barrier armamentarium – was a bright additional choice.
What He Wants Needs abetment from the U.S. government for his accusation to aggregate added than $2 billion from Argentina. Aswell loathes the Federal Reserve, which he calls a "group of affiliated academics."
How He Lives Owns two $9 actor ski chalets in Aspen and a affluence accommodation on Central Park. Has been feted by Fortune as "a amorous apostle of the one percent."
Robert Mercer (Photo: Hendon Mob Poker Database: http://pokerdb.thehendonmob.com)
THE QUANT MASTER: Robert Mercer
Position Co-CEO of Renaissance Technologies, a avant-garde of the high-frequency "quantitative" trading that was active in the 2010 "flash crash" – one of the steepest one-day drops in Wall Street's history.
Age 65
Fortune Fabricated $125 actor in 2011 alone.
Past Donations Financed a $1 actor ad attack to stop the alleged "Ground Zero mosque." Founded his own Super PAC, Concerned Taxpayers of America, to ambition Democrats who allege out adjoin Wall Street.
Current Donations Gave $1 actor to Romney's Super PAC and $350,000 to the Club for Growth, an advancement accumulation adherent to blurred taxes for the wealthy.
What He Wants To squelch a proposed tax on banal affairs – a move that would absolute his adeptness to bold the bazaar with algorithm-crunching computers.
How He Lives Owns a abode on Long Island and a horse acreage in Florida, area the gates abandoned amount added than $1 million. Sued the artist of his archetypal railroad set – reportedly bisected the admeasurement of a basketball cloister – for $2 million.
Kenneth Griffin (Photo: TIM SLOAN/AFP/Getty Images)
THE KING OF CHICAGO: Kenneth Griffin
Position CEO of Citadel LLC, a barrier armamentarium that accounted for about eight percent of all U.S. trading afore the crash.
Age 43
Fortune $3 billion (Forbes rank: 171)
Past Donations A Chicago adeptness broker, Griffin gave $200,000 to Rahm Emanuel's mayoral bid.
Current Donations Gave $1 actor to Restore Our Future, additional accession $1 actor to American Crossroads. Believes that he and his adolescent billionaires "actually accept an bereft influence" on the political process.
What He Wants An end to the Volcker Rule and Dodd-Frank, reforms that seek to rein in Wall Street excesses. Complains that "every coffer in the United States is absolutely beneath the deride of the government." Has donated $1.5 actor to Americans for Prosperity, a Koch brothers accouterments that lobbies adjoin ecology regulations.
How He Lives Held his marriage accession at Versailles. Owns a $7 actor accommodation in Chicago, a $40 actor accommodation in New York, a abode in Aspen and a vacation acreage in Hawaii. Bought a Jasper Johns painting for $80 million.
L. Francis Rooney III (Photo: Alessia Giuliani-Vatican Pool/Getty Images)
THE AMBASSADOR: L. Francis Rooney III
Position CEO of Rooney Holdings, a application close that congenital stadiums for the Dallas Cowboys and the Texas Rangers, as able-bodied as the aggregation centermost at the U.S. Capitol.
Age 58
Fortune In a attenuate 2007 disclosure, appear claimed assets of added than $40 actor in 18 months. His aggregation is one of America's better abreast endemic firms: Anniversary revenues accept run as top as $1.8 billion.
Past Donations Gave $250,000 to George W. Bush's additional inaugural. Served as a above Bush bundler, adopting at atomic $500,000 for the GOP in 2004.
Current Donations Rooney Holdings gave $1 actor to Restore Our Future. As a accounts co-chair for the campaign, Rooney has aswell hosted two fundraisers: one at a yacht club, and accession to bang off a "Victory" armamentarium for Romney and the RNC.
What He Wants Added architecture affairs and patronage. His close was awarded deals to body the presidential libraries of both Bushes, and George W. appointed him as U.S. agent to the Vatican.
How He Lives Owns a $14.4 actor beach acreage in Naples, Florida, and a $2.4 actor abode in Tulsa, Oklahoma.
Steven Webster (Photo: Purdue News Service)
DR. DRILL: Steven Webster
Position Co-CEO and managing accomplice of Avista Capital, a clandestine disinterestedness firm. Congenital his affluence in adopted drilling. His company, R&B Falcon, was the aboriginal buyer of the Deepwater Horizon rig that exploded in the Gulf, unleashing the nation's affliction ecology disaster.
Age 60
Fortune Avista has added than $4 billion beneath management. Awash his conduct close in an $8 billion deal.
Past Donations A above acquaintance of Romney at Harvard Business School, Webster gave $2,300 to Romney's presidential bid in 2007.
Current Donations Gave $1 actor to Romney's Super PAC.
What He Wants To drill, baby, drill. In accession to costs oil analysis through his clandestine disinterestedness firm, Webster sits on the boards of a half-dozen activity firms, including Basic Activity Services and Carrizo Oil & Gas.
How He Lives Owns an eight-bedroom, 7.5-bath abode in Houston account $4.7 million.
This adventure is from the June 7th, 2012 affair of Rolling Stone.
From The Archives Affair 1158: June 7, 2012
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