Romney Beats Newt by Wide Margin, Among Billionaires

Pay no attention to those Iowa Caucus results which will undoubtedly show Newt Gingrich trouncing Mitt Romney. Romney is going to win the GOP nomination and face President Obama in the general election. Yup, that’s what’s going to happen if you believe in the theory of “Follow the billionaire campaign contributions”.

The Washington Post was nice enough to go rooting through the Federal Election Commission (FEC) donor records and then matched them up against The Forbes Billionaires List and here’s what they came up with.

Billionaire Campaign Donors

Billionaire Campaign Donors

Click Here to Read Washington Post Story How Romney Wins Big Among Billionaire Donors

President Obama runs a solid second to Romney in the chase for billionaire campaign funds, but when it comes to collecting small donations from a broad base, he’s the undisputed champion.
One caveat to keep in mind is that the FEC records are from September. At that time, Newt’s polling was still languishing in the single digit range. The next cycle of FEC records might well show that more billionaires have jumped on his bandwagon.

Take note how Ron Paul is the only one who hasn’t broken the ice yet. Even Rick Santorum has one (Richard Mellon Scaife?). How ironic, the guy who would most fiercely defend the right of billionaires to buy votes (excuse me, express their freedom of speech), gets zero billionaire love.

Update – 1/9/2012 Newt Didn’t Quite Trounce Romney in Iowa, and Ron Paul has support of Maybe-a-Billionaire Jim Rogers

I’m sure glad we didn’t pay any attention to those Iowa Caucus results.(Newt Gingrich would trounce Mitt Romney.) Oh wait a minute, it turns out that Newt was the trouncee rather than the trouncer.

We also guessed wrong about Rick Santorum’s sole billionaire supporter. According to OpenSecrets.org, Richard Mellon Scaife is among the 42 billionaires supporting Romney, not fellow Pennsylvanian Santorum.

Santorum’s largest source of campaign cash is The Red White ansd Blue Fund, which derives much of its financial support from Foster Friess. While The Daily Kos describes Friess as the “Billionaire Who Bought Iowa for Santorum, his name does not appear anywhere on the Forbes Billionaire list.

Likewise, outspoken commodities trader, Jim Rogers, said “In this election if Ron Paul gets anywhere near the nomination I would certainly support him. He is the only one that I’ve seen in American politics that seems to have a clue about what’s going on.”

The Examiner refers to Rogers as “Billionaire investor Jim Rogers”. There is little doubt that Rogers is a very rich guy, but like Foster Friess, he doesn’t make The Forbes List. It should also be noted, Rogers’ support of Ron Paul is strictly “moral”. So far at least, there is no evidence to suggest that he has made any financial contributions to the Paul campaign.

Maybe a billionaire Jim Rogers Supports Ron Paul

Maybe a Billionaire Jim Rogers Supports Ron Paul

5 Responses to “ “Romney Beats Newt by Wide Margin, Among Billionaires”

  1. Paul says:

    Perhaps it’s not a coincidence.  The big banks aren’t flooding his campaign with cash either.  Perhaps Paul’s platform isn’t quite as cushy to billionaires or big banks as liberals seem to believe.

  2. dweb says:

    > How ironic, the guy who would most fiercely defend the right of billionaires to buy votes (excuse me, express their freedom of speech), gets zero billionaire love.
    Not ironic or accurate. Dr. Paul is the candidate who most threatens the 1%. Calling for an end to corporate welfare is central to his platform. He does not appeal to these establishment types like Newt/Mitt or Barack do precisely because they (the billionaires) cannot buy him out.
    Obama called for “Hope” and “Change” and we Americans elected him based on those ideas; meanwhile, he was stuffing his pockets with Goldman Sachs money (his largest contributor, mind you) and snickering behind our backs. Enough talking the talk, elect a man who walks the walk. Vote Ron Paul!

  3. Ragnarok says:

    How ironic, the guy who would most fiercely defend the right of billionaires to buy votes (excuse me, express their freedom of speech), gets zero billionaire love.

     Maybe because it won’t be like you dream it will? The real irony is that billonaires don’t want free market and REAL capitalism. They are better served by a government that forces anyone else to play by their own rules.

  4. Hank Xavier says:

    “President Obama runs a solid second to Romney in the chase for billionaire campaign funds, but when it comes to collecting small donations from a broad base, he’s the undisputed champion.”

    He may be ahead, but I think your bias is showing when you don’t mention that Ron Paul is also a champion grassroots fundraiser, and in fact holds the record for most donations in one day. I think you also miss the reason behind why Paul isn’t supported by the billionaire establishment. It isn’t because he is the candidate that would most protect them as you claim, but is the candidate that most threatens their hegemony in the market because his record indicates he will clamp down on corporatism in government. How do you think those billies got their billies in the first place? 

  5. AC says:

    Based on this, I’d vote for Ron Paul.

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