10 Companies Making Massive Donations to Political Campaigns

Mandatory Credit: Photo by Shutterstock (10800061s)United States President Donald J.
Mandatory Credit: Photo by Shutterstock (10800061s)United States President Donald J.

Following the new controversial voting law in Georgia and the slew of companies — from Delta to Coca Cola– voicing their disapproval, Republican leader Mitch McConnell told companies to “stay out of politics.”

“Our private sector must stop taking cues from the Outrage-Industrial Complex. Americans do not need or want big business to amplify disinformation or react to every manufactured controversy with frantic left-wing signaling,” he said in a statement.

However, McConnell was quickly reminded about the Citizens United vs. Federal Electoral Commission case, which he supported in 2010, that enables corporations and other outside groups to spend unlimited funds on elections. The argument is being made both ways.

Here’s a look at 10 companies — and the people behind them — that made some of the biggest political donations during the 2020 election cycle.

Check Out: 5 Politicians Bankrolled by Huge Companies

Mandatory Credit: Photo by Paul Sakuma/AP/REX/Shutterstock (6269613c)Larry Ellison Oracle CEO Larry Ellison speaks at the SPARC SuperCluster conference at Oracle headquarters in Redwood City, CalifOracle Ellison, Redwood City, USA.
Mandatory Credit: Photo by Paul Sakuma/AP/REX/Shutterstock (6269613c)Larry Ellison Oracle CEO Larry Ellison speaks at the SPARC SuperCluster conference at Oracle headquarters in Redwood City, CalifOracle Ellison, Redwood City, USA.

Oracle (Larry Ellison)

Ellison, Oracle’s co-founder and chairman, donated $7.2 million to conservative PACs, including to the Opportunity Matters Fund super PAC, the Security is Strength PAC, which supported Lindsey Graham’s campaign, and the Better Future Michigan Fund PAC, which supported John James’s campaign.

See: Billionaires vs. the Rest of Us — How Did Finances Change Due to COVID-19

WWE championship
WWE championship

World Wrestling Entertainment (Vince & Linda McMahon)

The McMahons donated $17.5 million to conservative PACs. They include the Iowa Values Action PAC, which supported Joni Ernst, America First Action, which supported Donald Trump, and the Security is Strength PAC, which supported Lindsey Graham.

Check Out: Popular Companies Set to Make a Comeback in 2021

CIRCA AUGUST 2014 - BERLIN: the logo of the brand "Marvel", Berlin.
CIRCA AUGUST 2014 - BERLIN: the logo of the brand "Marvel", Berlin.

Marvel Entertainment (Laura Perlmutter)

Perlmutter gave $22.4 million to conservative PACs, including the Security is Strength PAC, which supported Lindsey Graham, the Valor Project super PAC and the Miles of Greatness Fund super PAC, which supported Ronny Jackson.

Related: Google Halts Donations to Republicans Who Voted Against Election Results

NEW YORK, NY - DECEMBER 02:  Martha Stewart and James Simons, chairman and founder of Renaissance Technologies LLC, attend the Winter Ball for Autism at Metropolitan Museum of Art on December 2, 2013 in New York City.
NEW YORK, NY - DECEMBER 02: Martha Stewart and James Simons, chairman and founder of Renaissance Technologies LLC, attend the Winter Ball for Autism at Metropolitan Museum of Art on December 2, 2013 in New York City.

Renaissance Technologies/Simons Foundation (James Simons)

James Simons, founder of the Renaissance Technologies hedge fund, which has $60 million in assets under management, donated $24.5 to million liberal PACs, including the Priorities USA Action PAC, the Strategic Victory Fund Super PAC and the Senate Majority PAC.

Find: Hedging Your Bet? Everything You Need to Know About Hedge Funds

The Blackstone Group (Stephen Schwarzman)

Schwarzman, chairman and CEO of private equity firm The Blackstone Group, donated $33.5 million to several conservative PACs and Super PACs. They include the 1820 PAC, the Senate Leadership Fund and America First Action.

Explore: 150 CEOs from Goldman Sachs, BlackRock and More Urge Congress to Approve $1.9 Trillion Stimulus

EDITORIAL IMAGE - PREMIERMandatory Credit: Photo by Pedro Fiuza/Sipa/Shutterstock (9212716bo)Asana Co-Founder & CEO Dustin MoskovitzWeb Summit day 3, Lisbon, Portugal - 08 Nov 2017.
EDITORIAL IMAGE - PREMIERMandatory Credit: Photo by Pedro Fiuza/Sipa/Shutterstock (9212716bo)Asana Co-Founder & CEO Dustin MoskovitzWeb Summit day 3, Lisbon, Portugal - 08 Nov 2017.

Asana (Cari Tuna and Dustin Moskovitz)

Asana was founded by former Facebookers Dustin Moskovitz and Justin Rosenstein. Moskovitz and his wife, Cari Tuna, gave $49.5 million to liberal PACs, including Future Forward USA, MoveOn.org, Real Justice PAC and the Senate Majority PAC.

Learn: Where Top Tech Billionaires Donated for the 2020 Election

NEW YORK, NY - NOVEMBER 12:  Founder and CEO at Citadel LLC Kenneth C.
NEW YORK, NY - NOVEMBER 12: Founder and CEO at Citadel LLC Kenneth C.

Citadel (Kenneth Griffin)

Griffin, the founder and CEO of hedge fund Citadel, which has $38 billion in assets under management, gave $66 million to several conservative PACs and super PACs, according to OpenSecrets.org.

PACs receiving the donations include the National Victory Action Fund, the Georgia Action Fund, the Better Future Michigan Fund and the Congressional Leadership Fund.

Find: Corporate America Hits Republicans Who Opposed Election Certification Right Where It Hurts — in the PAC

Democratic presidential candidate Tom Steyer speaks at
Democratic presidential candidate Tom Steyer speaks at

NextGen (Thomas Steyer)

NextGen, which was “created to build the grassroots power in key states and districts to elect pro-climate Democrats into office,” by Tom Steyer, gave $69 million to various PACs, including the Working Families Party PAC, the Black PAC and the Black Economic Alliance PAC, according to OpenSecrets.org.

Discover: With Record-Setting Spending in 2020, Which Candidate Raised the Most in Your County?

Michael Bloomberg
Michael Bloomberg

Bloomberg L.P. (Michael Bloomberg)

Bloomberg gave $152 million to various Democratic PACs, including the Independence USA PAC, the Black PAC, the Somos PAC and the Women Vote Super PAC, according to OpenSecrets.org.

A Look Back: Bloomberg and 7 Millionaires Going on an Election Spending Blitz

Mandatory Credit: Photo by Patrick Semansky/AP/Shutterstock (10494516m)President Donald Trump speaks with Las Vegas Sands Corporation Chief Executive and Republican mega donor Sheldon Adelson before speaking at the Israeli American Council National Summit in Hollywood, FlaTrump, Hollywood, USA - 07 Dec 2019.
Mandatory Credit: Photo by Patrick Semansky/AP/Shutterstock (10494516m)President Donald Trump speaks with Las Vegas Sands Corporation Chief Executive and Republican mega donor Sheldon Adelson before speaking at the Israeli American Council National Summit in Hollywood, FlaTrump, Hollywood, USA - 07 Dec 2019.

Las Vegas Sands/Adelson Drug Clinic (Sheldon and Miriam Adelson)

Las Vegas Sands CEO Sheldon Adelson, who died in January, and his wife Miriam Adelson, set a new record for donations from individuals in a single election cycle, giving $215.1 million. The Adelsons almost singlehandedly funded Preserve America PAC, the newest pro-Trump super PAC, according to OpenSecrets.org.

More from GOBankingRates

This article originally appeared on GOBankingRates.com: 10 Companies Making Massive Donations to Political Campaigns

Advertisement