Billionaire donors have just broken a record in the US.
They spent a combined $880 million on the midterm elections. This number was tallied in early November and may be closer to $1B now.
The top donor is George Soros, who put $128 million on his own into elections. The second-highest donor is Richard Uihlein, who spent $67 million on Republican candidates.
Most of the spending favored Republicans, which is an interesting contrast to their “working man” tagline.
Billionaire spending increased this year by 44% over the 2018 midterms.
The best question for Republican voters to ask would be: why do billionaires care so much about the “working man’s party,” and why do they desperately need candidates to win?
Democrats, by contrast, earned more grassroots donations this year to fund what turned out to be surprisingly successful candidates in a year when they should have been dealt staggering losses.
While Republicans likely still take the W in the House, they may not take the Senate majority, and given the unpopularity of Biden – they should have won both easily.