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☆ Republican megadonor Jeff Yass, inner circle give millions to shape schools, courts
▼ + stars: | 2024-04-09 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

The firm and the foundation are twin enterprises of Republican megadonor Jeff Yass, and a small group of allies. The foundation is run by Yass and other veteran Susquehanna executives, according to the documents that are current through 2022. The Susquehanna Foundation is one of two foundations that Yass and his closest friends have funded and led. The other foundation is even less well known: the Claws Foundation. Similar to Susquehanna, Claws is the charitable arm of one person: Arthur Dantchik, a co-founder of Susquehanna International Group with Yass, is the sole listed donor to Claws Foundation.

Persons: Jeff Yass, Arthur Dantchik, Dantchik, Brendan Fischer, Summer Lee, Donald Trump, Jeffrey Yass Organizations: Republican, Susquehanna Foundation, Susquehanna International Group, Susquehanna, Claws Foundation, Susquehanna International, Sterling Foundation Management, CNBC, Cato Institute, Institute for Justice, Supreme, Atlas Network, Competitive Enterprise, Competitive Enterprise Institute, Susquehanna Growth Equity Fund III, Moderate PAC, Democratic Rep, Politico, Democratic Locations: Yass, Bala Cynwyd, Pennsylvania, Susquehanna, Virginia, Dantchik, Washington, Pitchbook

☆ Trump's initials are publicly tradeable once again — this time during a campaign
▼ + stars: | 2024-03-26 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Read previewFormer President Donald Trump is a publicly tradeable asset once again. Trump's initials are one of the new stock symbols for Truth Social's parent company. Symbols can range from the fairly obvious APPL (Apple) to the playful, motorcycle maker Harley-Davidson uses HOG on the New York Stock Exchange. Trump's political fortunes will be closely tied to Truth Social's parent, Trump Media & Technology Group. By 2004, the company was delisted from the New York Stock Exchange after filing for Chapter 11 bankruptcy protection.

Persons: —, Donald Trump, Davidson, Trump, It's, Jeffrey Yass, Donald Trump Jr Organizations: Service, Nasdaq, New York Stock Exchange, Business, Trump Media & Technology Group, Trump Media, Susquehanna International Group, New York Times, Biden, Susquehanna, Trump Hotels, Casino Resorts, Atlantic Locations: Yass

President Joe Biden's reelection campaign launched an official TikTok account Sunday evening. The account is noteworthy because TikTok is currently banned on most U.S. government-issued devices. The TikTok account, with the handle "@bidenhq," debuted Sunday during Lunar New Year celebrations in China and Super Bowl 58 in the U.S. Biden campaign advisors told NBC News the TikTok account is part of an effort to meet voters where they are. The Biden White House has carried on a love-hate relationship with TikTok since Biden took office.

Persons: Joe Biden, John F, Joe Biden's, TikTok, Biden, Shou Zi Chew, Jeffrey Yass, ratcheted Organizations: Kennedy International Airport, Super, China, Harvard Business School, TikTok's, Susquehanna International Group, Billionaire, U.S, NBC, Pew Research, Biden White Locations: New York City, U.S, China

☆ Wall Street opposition to Trump collapses, as 'pipe dream' of primary defeat ends
▼ + stars: | 2024-01-22 | by ( Brian Schwartz | ) www.cnbc.com time to read: +8 min

"A lot of people on Wall Street have been living in this pipe dream of Trump not getting the nomination. "It's painful for me to admit this, but Wall Street is basically nonchalant to this election," longtime Wall Street executive and former Trump communications director Anthony Scaramucci said in a recent interview with The Hill. An outside effort "will not work against Trump," one of DeSantis' Wall Street fundraisers said. "The next question is, 'will Wall Street work to stop him in the general by supporting Biden?'" In 2020, Wall Street executives combined to donate over $74 million to helping Biden defeat Trump.

Persons: Donald Trump, Jamie Dimon, Andrew Harrer, Joe Biden, Trump, Biden, Anthony Scaramucci, Jeffrey Sonnenfeld, Sonnenfeld, Wall, Ron DeSantis, Nikki Haley, DeSantis, Donald Trump , Jr, Woody Johnson, Haley, Trump's, Ken Langone, Langone, Marco Bello, Jeffrey Yass, Charles Myers, Dimon Organizations: JPMorgan Chase &, White, Bloomberg, Getty, Republican, Wall Street, Democratic, Trump, Yale School of Management, Florida Gov, U.N, Street, Jets, Biden, New, Granite State, Big Apple, CNBC, Financial Times, U.S, United, Reuters, Republicans, Susquehanna International Group, JPMorgan, NATO, Economic Locations: Washington, Wall, New Hampshire, South Carolina, Iowa, New York, Granite, West Des Moines , Iowa, U.S, Yass, China

What happened next was a state Supreme Court election in Pennsylvania unlike any other. Such high-stakes, high-spending partisan campaigns could become standard for judicial elections in Pennsylvania, a premier presidential battleground state where the state Supreme Court has issued pivotal decisions on major election-related cases in recent years. Democrats had held a 5-2 majority on Pennsylvania's Supreme Court before Chief Justice Max Baer died last year. Democrats and their allies learned a hard lesson in Pennsylvania's 2021 race for Supreme Court, when Republicans outspent Democrats by more than $1 million. Based on reports filed thus far to the state, McCaffery and Democratic allies spent more than $13 million, compared to more than $8 million by Carluccio and her allies.

Persons: Dan McCaffery, Carolyn Carluccio, Donald Trump, that’s, ”, Shanin Specter, ” McCaffery, Roe, Wade, Max Baer, Republican Kevin Brobson, Carluccio, Jeffrey Yass —, ” Specter, Eric Stern, Matthew Brouillette, ” Brouillette, “, ” Kadida Kenner, McCaffery, ” Kenner, Marc Levy Organizations: Republican, Association, U.S, Democratic, Pennsylvania's, Supreme, Republicans outspent, Democratic Party, Democrats, New Pennsylvania Locations: HARRISBURG, Pa, Pennsylvania, Philadelphia, U.S ., Wisconsin, Allegheny County

HARRISBURG, Pa. (AP) — Pennsylvania voters will make a decision with implications for the future of voting and abortion rights in a presidential battleground state when they choose the winner in Tuesday's election for an open state Supreme Court seat. McCaffery is a former Philadelphia prosecutor and judge who sits on a statewide appellate court, the Superior Court. McCaffery positioned himself as a defender of abortion rights and other rights that he said Democrats had fought for but were under threat from the U.S. Supreme Court’s conservative majority. Democrats also made abortion rights a key avenue to attack Carluccio. Carluccio said a debate over abortion rights didn’t belong in the race since state law makes abortion legal through 24 weeks.

Persons: Democrat Dan McCaffery, Carolyn Carluccio, Max Baer, Donald Trump, Joe Biden, Roe, Wade, McCaffery, Carluccio, Montgomery, —, Jeffrey Yass, Marc Levy Organizations: Democrat, Republican, Republicans, U.S Locations: HARRISBURG, Pa, Pennsylvania, McCaffery, Philadelphia, Montgomery, U.S .

☆ Wall Street execs, Spielberg, 'dark money' groups quietly back Democrat running for Pennsylvania Supreme Court
▼ + stars: | 2023-11-07 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Daniel McCaffery, Democratic candidate for Pennsylvania Supreme Court judge, arrives at his polling place to vote in Philadelphia, Tuesday, Nov. 7, 2023. If McCaffery wins, it would give the Democrats one more seat to boost their majority on the state court. Beyond the Spielberg group, the PAC has received funds from at least two veteran finance executives, according to the records. The "dark money" group is chaired by Chuck Hadley, according to his LinkedIn page. The North Fund, another 501(c)(4) "dark money" organization, gave $600,000 to the PAC, according to records.

Persons: Daniel McCaffery, Steven Spielberg, Carolyn Carluccio, Adam Bonin, Jeffrey Yass, Spielberg, Forbes, Stephen Mandel, Susan, Mandel, Mark Heising, Heising, Lynn Schusterman, Charles Schusterman, Schusterman, Chuck Hadley, Hadley, Arabella Organizations: Democratic, Pennsylvania, Democrat, Republican, Susquehanna International Group, Trust, Foundation, Lone, Lone Pine Capital, Medley Partners, PAC, Forbes, McCaffery PAC, Partners, North Fund Locations: Philadelphia, Pennsylvania's, Hollywood, Tuesday's, Lone Pine

“My opponent is backed by special interests who are spending millions of dollars on lies about me,” she says in a new TV ad. As the campaign finance reports have rolled in to the state, McCaffery’s side has gained a slight spending edge. During the five-week period ending Oct. 23, McCaffery's campaign reported spending $2.3 million. Another group that is largely funded by Illinois billionaire Richard Uihlein reported spending $735,000 on a TV ad attacking McCaffery. One umbrella group, Pennsylvanians for Judicial Fairness, has reported spending more than $4 million while the American Civil Liberties Union reported spending more than $1 million.

Persons: Dan McCaffery, Carolyn Carluccio, Roe, Wade, we’ve, ” McCaffery, McCaffery, Carluccio, “, ”, Jeffrey Yass, Richard Uihlein, Marc Levy Organizations: Democratic, U.S, Supreme, Pennsylvania, Federation, Life Coalition of Pennsylvania, Commonwealth, Fund, Illinois, Fair Courts America, GOP, Court, Pennsylvania Chamber, Business, Industry, American Civil Liberties Union Locations: HARRISBURG, Pa, Pennsylvania, Montgomery, Philadelphia, Yass, Wisconsin's

☆ Billionaire politicians have become 'shockingly common' around the world, new study finds
▼ + stars: | 2023-10-26 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

More than 11% of the world's more than 2,000 billionaires have run for election or become politicians, according to a study highlighting the growing power and influence of the super-wealthy. "Billionaire politicians are a shockingly common phenomenon," the study said. Outside the U.S., billionaire politicians are even more common. Terry Gou, the Taiwanese billionaire and founder of Foxconn, is running for president of Taiwan. Of course, billionaires wield even more political power through their (often secret) donations to support candidates, parties and super PACs.

Persons: Donald Trump, Terry Gou, Vivek Ramaswamy, Doug Burgum, Michael Bloomberg, Tom Steyer, Billionaire Rick Caruso, J.B, Pritzker, Andrej Babiš, Silvio Berlusconi, Bidzina Ivanishvili, Najib Mikati, Sebastián, Thaksin, Phil Ruffin, Larry Ellison, Nelson Peltz, Richard Uihlein, Jeffrey Yass, Stanley Druckenmiller, Cliff Asness, David Tepper, Bruce Kovner Organizations: Wisconsin Valley Science, Technology, Northwestern University, Democratic, Los Angeles, Tax Fairness, Billionaire Locations: Wisconsin, Mount Pleasant , Wisconsin, U.S, Illinois, Taiwan, Czech Republic, Italy, Georgia, Lebanon, Chile, Thailand

Previously, Democratic governors who had backed school choice measures had done so in compromise deals with Republican-controlled legislatures. Vouchers have long been viewed in stark partisan terms: Democrats and public school allies say they drain critical resources from public schools. Republicans and school choice advocates say they give freedom to families who may not like their local public schools. That had motivated public school advocates and Democrats to demand billions more for the poorest public schools, a quest that Shapiro has said he supports. Those fluent in the history of school vouchers could think of no other Democratic governor who had embraced them.

Persons: Josh Shapiro —, Shapiro, ”, Robert Enlow, ’ ”, Matthew Brouillette, Christopher Borick, Jeffrey Yass, Jeff Yass, Charlie Gerow, ” Shapiro, Joshua Cowen, Peter Schweyer, —, recriminations, “ cowering, Shapiro shrugged, we've, Marc Levy Organizations: —, Republican, Pennsylvania, Democratic, Republicans, Roman Catholic, Muhlenberg College Institute of Public, GOP, Fox News, Michigan State University, Republican Party, Senate Republicans, Lehigh . Teachers, AFSCME, SEIU, AFL, House Democratic, Wall Street Locations: HARRISBURG, Pa, Indianapolis, Pennsylvania, statehouses, Yass, Milwaukee, Wisconsin, “, Philadelphia

☆ Peltz, Druckenmiller, Navarro give big to Tim Scott PACs as DeSantis falters
▼ + stars: | 2023-07-31 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

A super PAC backing Republican presidential candidate Sen. Tim Scott, R-S.C. on Monday disclosed major donations from some of the nation's wealthiest business leaders. Between April and June this year, he gave $80,000 to the PAC backing Scott, who only officially entered the race in May. He also gave $15 million to Club for Growth Action, a separate super PAC that is taking on Trump's latest run for president. Rowan donated $250,000 to a different pro-Scott super PAC, Trust In The Mission (TIM) PAC, last quarter. Ben Navarro, a South Carolina businessman and CEO of Sherman Financial Group, donated $5 million to the same committee.

Persons: Sen, Tim Scott, Scott, Nelson Peltz, Jeffrey Yass, Stanley Druckenmiller, Peltz, Trump, Ron DeSantis, GOP megadonor, Druckenmiller, Marc Rowan, Rowan, Ben Navarro Organizations: PAC, Wall Street, Scott Opportunity, Federal, Commission, Trump, Trian Fund Management, Capitol, Florida Gov, GOP, Susquehanna International Group, Scott, for Growth, Opportunity Matters, Hamptons, Apollo Global Management, Trust, Sherman Financial Group Locations: Florida, Yass, South Carolina

☆ Factbox: How Wall St and billionaires have donated to U.S. elections
▼ + stars: | 2022-11-08 | by ( John Mccrank | ) www.reuters.com time to read: +4 min

Prior to the U.S. Supreme Court's 2010 Citizens United ruling, which struck down limits on political contributions by corporations or unions, political contributions of billionaires made up around 3% of overall political contributions, she said. Griffin said in a statement: "I hope that my political engagement will help to protect the American Dream. * Crypto-billionaire Sam Bankman-Fried of FTX was the sixth-largest donor, at $39.8 million with the vast majority going to help Democrats. * Elliott Management founder Paul Singer spent $19.7 million to support Republicans, making him the 15th-largest donor. * Renaissance Technologies founder Jim Simons, together with Marilyn Simons, were the 20th-largest donors, spending nearly $16 million to help Democrats.

☆ American billionaires spent a record $880 million on the U.S. midterm elections
▼ + stars: | 2022-11-03 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

America's billionaires spent a record $880 million on the U.S. midterm elections so far, with most of their spending favoring Republicans, according to a new report. They have given a total of $3.5 million to a single-candidate super PAC in Wisconsin supporting GOP Sen. Ron Johnson. A relative newcomer to the billionaire political class is Sam Bankman-Fried, the 30-year-old crypto mogul. He donated $40 million this cycle, most of it to a super PAC he created called Protect Our Future. Hedge-fund billionaire Stephen Mandel of Lone Pine Capital has spent $17.7 million on Democratic groups, including the super PAC Future Forward.

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