Top Donors in the 2024 US Presidential Election

Overview of Donations

As the 2024 election draws near, organizations are investing millions of dollars to back their preferred party or, in some instances, bipartisan groups that promote their industry. A compilation of the 50 leading organization donors and their expenditure was made by The Washington Post, using data from the Federal Election Commission for the period from January 1, 2023, to August 20, 2024. The top 10 donors are mapped out in a chart by Julie Peasley from Visual Capitalist.

Megadonors Backing Bipartisan Groups

Crypto firms Coinbase and Ripple primarily donated to Fairshake, a super political action committee (PAC) that supports the campaigns of crypto-friendly congressional candidates. Venture capital firm Andreessen Horowitz also backed Fairshake. The total contributions from these three megadonors amounted to $180.1 million.

Megadonors Supporting Partisan Groups

Most of the donations were directed towards partisan groups. The Empower Parents PAC and Koch Industries were the largest contributors to Republican organizations. These firms made notable donations to Never Back Down Inc. ($82.5 million from Empower Parents PAC), Americans for Prosperity Action, Congressional Leadership Fund, and Senate Leadership Fund. On the other hand, the remaining five of the top 10 megadonors backed Democratic groups. The most significant beneficiaries were Democracy PAC, which received $60.0 million from Fund for Policy Reform, and Future Forward PAC, which received $55.9 million from Future Forward USA Action.

Additional Resources

For those interested in this topic, there is a visualization available that examines the most trusted sources for government information in the U.S.

Bottom Line

The influence of financial contributions in political campaigns is undeniable. The 2024 election has seen a significant amount of funding from organizations, particularly from the crypto industry. This highlights the increasing importance and influence of cryptocurrency in the political landscape. What are your thoughts on this development? Do you think this trend will continue in future elections? Share this article with your friends and discuss. Don't forget to sign up for the Daily Briefing, available every day at 6pm.