US Election Contributions By Corporate Employees: A Visualization

Political Contributions in the Race Between Kamala Harris and Donald Trump

As Kamala Harris and Donald Trump continue their closely contested race, political donations are now tilting towards the Democratic party. Since President Joe Biden withdrew his nomination in July, there has been a surge of donations supporting Harris's presidential campaign. The vice president managed to overcome Trump’s fundraising advantage in less than a month, with 66% of contributions coming from first-time donors.

Political Donations from a Corporate Perspective

But what insights can be gleaned when political donations are examined from a corporate standpoint? A graphic based on data from Quiver Quantitative reveals the top companies by employee election contributions in 2024.

Top 10 Corporate Employee Contributions

The following companies have seen the highest political donations from their employees this year: News Corp, the parent company of Fox News and The Wall Street Journal, has seen its employees contribute overwhelmingly to the Democratic party, despite being a conservative-leaning conglomerate. In total, political donations stand at over $8.3 million, the highest in corporate America. The corporation itself has evenly divided donations between both parties in recent years, allowing employees to contribute to political associations as they wish.

Noteworthy Contributors

Stephen Schwarzman, CEO of private equity giant Blackstone, is one of Donald Trump’s most significant corporate supporters. Like their CEO, Blackstone employees are supporting the former president, likely due to Trump’s pro-business policies and proposed tax cuts. On the other hand, employees at big tech companies and other large financial firms are donating substantially to 2024 election campaigns. Netflix, Alphabet, and Microsoft employees heavily lean Democratic, while employees at Charles Schwab and First Bank favor Trump. Over the summer, former Alphabet chief executive, Eric Schmidt, made a six-figure contribution to the Democrat campaign.

Interestingly, software giant Palantir is the most evenly divided, with employees slightly favoring the Republican party. Palantir co-founder Joe Lonsdale is a major supporter of Donald Trump, contributing to Elon Musk’s America PAC, alongside the Winklevoss twins and other tech titans.

Further Insights

For more information on this topic from a corporate perspective, you can explore this graphic on the companies with the most PAC donations in 2024.

Bottom Line

Political donations from corporate employees provide an interesting perspective on the political leanings within different industries. This data can offer insights into the political climate and the potential influence of corporations on election outcomes. What are your thoughts on this matter? Feel free to share this article with your friends and engage in a discussion. Remember, you can sign up for the Daily Briefing, which is delivered every day at 6pm.