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Dark Money

All articles tagged with #dark money

Texas Senate runoff festers with record ad buys from elusive donors
politics11 days ago

Texas Senate runoff festers with record ad buys from elusive donors

Texas Tribune outlines a record‑shattering, multi‑million ad battle in the Cornyn–Paxton GOP Senate runoff, funded by a sprawling network of campaigns, PACs and largely opaque dark‑money groups. The piece highlights major donors and groups (including Bush, Murdoch, Ross Perot Jr., the Waltons, Harlan Crow, John Nau, Stephen Schwarzman) and donor‑funding mechanics that let Cornyn outspend Paxton overall, while both sides unleash aggressive attack ads. It also notes the role of 501(c)(4) organizations in masking donors and compiles spending data from the FEC and AdImpact up to early May.

via The Texas Tribune|
#campaign-finance#cornyn#dark-money
Megadonors Reshape 2026 Midterms With Hidden Money Web
politics1 month ago

Megadonors Reshape 2026 Midterms With Hidden Money Web

CBS News outlines how billionaire donors and opaque political groups are shaping fundraising ahead of the 2026 midterms, highlighting the Mandels’ Democratic giving and the intertwined Majority Democrats PAC/The Bench, alongside MAGA Inc. and other Republican outfits, all within a murky donor network and a weakened FEC that raises concerns about transparency and possible coordination.

via CBS News|
#billionaires#campaign-finance#dark-money
politics1 month ago

DNC punts on Israel policy as AIPAC influence looms

Democratic National Committee members rejected a symbolic resolution to curb AIPAC and dark-money groups in primaries and deferred broader Middle East policy measures, sending them to a nascent working group—highlighting a broader struggle within the party between pro-Israel influence and a base pushing for a tougher, more independent stance.

via Politico|
#aipac#dark-money#dnc
Trump-Backed AI Group Bets $100M on Midterm Push
politics1 month ago

Trump-Backed AI Group Bets $100M on Midterm Push

A Trump-aligned nonprofit, Innovation Council Action, plans to spend at least $100 million this year to advance the White House’s AI policy agenda, potentially launching a super PAC; led by Taylor Budowich with backing from David Sacks, the group seeks to influence lawmakers on AI and data-center issues and identify friendly legislators while maintaining donor anonymity.

via The New York Times|
#ai#dark-money#midterms
Illinois Primaries Spotlight AIPAC Influence Amid Israel-Iran Tensions
politics2 months ago

Illinois Primaries Spotlight AIPAC Influence Amid Israel-Iran Tensions

In Illinois’ Democratic primaries, pro-Israel groups including AIPAC and shadow PACs are pouring millions to back or defeat candidates, signaling a test of influence as US voters grow wary of Israel policies and Iran-related conflicts; observers say AIPAC’s power may be waning but spending and tactics continue to shape several races, notably Kat Abughazaleh vs. Daniel Biss, with broader implications for the party’s foreign policy stance.

via Al Jazeera|
#aipac#dark-money#illinois-primaries
"Anonymous Donations and Fundraising Shake Up 2024 Presidential Race"
politics2 years ago

"Anonymous Donations and Fundraising Shake Up 2024 Presidential Race"

A $64 million anonymous donation to the Impetus Fund, which ultimately supported Joe Biden's 2020 presidential campaign, highlights the growing influence of "dark money" in U.S. elections. Despite efforts to uncover the donor's identity, the source remains unknown, illustrating the opaque nature of current campaign finance systems. Critics argue that such secrecy undermines transparency and public trust, while both Democratic and Republican campaigns continue to benefit from these undisclosed funds. As the 2024 election approaches, the role of dark money is expected to be even more significant.

via CBS News|
#2024-presidential-election#anonymous-donations#campaign-finance
"Early AI Investor's Non-Profit Emerges as Top Donor to Pro-Biden Dark-Money Group"
politics2 years ago

"Early AI Investor's Non-Profit Emerges as Top Donor to Pro-Biden Dark-Money Group"

A husband-and-wife duo with ties to AI investments and cryptocurrency trading have emerged as major backers of the dark-money group supporting President Joe Biden, with their non-profit, BEMC 4 Association, donating $7.2 million to Future Forward USA Action in 2022. Future Forward, a Super PAC, has become a key supporter of the Biden-Harris agenda and 2024 efforts, raising a combined $208 million in 2023. The couple, who work at Jane Street, have also quietly increased their political spending, supporting various Democratic Party groups and candidates. The influence of dark money in politics has been criticized by Biden, despite benefiting from such groups, and the trend is set to continue with Future Forward planning the largest ever political advertising campaign by a Super PAC in 2024.

via CNN|
#ai-investments#dark-money#future-forward
"2024 Election: Mysterious Crypto Group's Lobbying Surge"
cryptocurrencypolitics2 years ago

"2024 Election: Mysterious Crypto Group's Lobbying Surge"

A new mysterious nonprofit group called the Cedar Innovation Foundation, backed by the crypto industry, has set up a mailing address near Washington, D.C., and is ramping up lobbying efforts ahead of the 2024 elections. The group, heavily funded by crypto industry players, has launched advertisements against lawmakers critical of crypto and quietly hired strategists to fight on its behalf. With the crypto industry aiming to influence Congress and spending millions on lobbying, the foundation's efforts have drawn criticism from opponents who view it as a "dark money" campaign.

via CNBC|
#2024-election#cryptocurrency#cryptocurrencypolitics
"Sam Bankman-Fried's Trial Exposes Dark Money Alliances and Financial Deceit"
politics2 years ago

"Sam Bankman-Fried's Trial Exposes Dark Money Alliances and Financial Deceit"

Former FTX CEO Sam Bankman-Fried and his allies donated $50 million to politically active groups that do not disclose their donors, according to recently revealed documents. Bankman-Fried used a private signal chat to request contributions be made in someone else's name, while his mother encouraged donations to be made in that person's name as well. Bankman-Fried faces federal fraud charges and allegations of using FTX customer funds to finance over $100 million in political giving. He publicly supported Democratic causes while secretly funding conservative dark money groups. Bankman-Fried's former colleagues also made significant donations to Republican-aligned organizations. FTX itself donated to various obscure "dark money" groups linked to Republican senators.

via CNBC|
#cryptocurrency#dark-money#ftx
"Sam Bankman-Fried's Father Linked to Controversial Democratic 'Dark Money Network'"
politics2 years ago

"Sam Bankman-Fried's Father Linked to Controversial Democratic 'Dark Money Network'"

Sam Bankman-Fried's father, Joseph Bankman, allegedly held an advisory role at Arabella Advisors, a top Democratic dark money network, according to a lawsuit filed by FTX, Bankman-Fried's former company. FTX is seeking to recoup money owed to pay debts, claiming that Bankman and his wife exploited their access and influence within the company. Arabella Advisors manages a nonprofit network that raises over a billion dollars in anonymous cash annually and supports left-wing causes. The allegations have raised concerns about the extent of Bankman-Fried's political influence through the powerful liberal dark money network. Arabella Advisors denies that Bankman had any role at the firm. Bankman-Fried, a prolific supporter of Democratic causes, is facing multiple charges, including fraud and money laundering.

via New York Post |
#arabella-advisors#dark-money#joseph-bankman
"Former Ohio Speaker Householder Sentenced in Bribery Scheme: Ohioans Pay the Price"
politics2 years ago

"Former Ohio Speaker Householder Sentenced in Bribery Scheme: Ohioans Pay the Price"

Former Ohio House Speaker Larry L. Householder is set to be sentenced for his involvement in a $60 million bribery scheme with FirstEnergy Corporation, which resulted in a $1.3 billion bailout for two struggling nuclear power plants. Prosecutors have recommended a sentence of up to 20 years. The case highlights the pervasive issue of dark money in politics and the susceptibility of state legislatures to manipulation by special interests. The investigation into the scandal is ongoing, and FirstEnergy has faced significant fines and legal consequences.

via The New York Times|
#bribery-scheme#corruption#dark-money
"Dark Money: Power Companies' $215m Political Influence"
politics2 years ago

"Dark Money: Power Companies' $215m Political Influence"

US power companies have donated at least $215m to dark money groups in recent years, according to an analysis of 25 for-profit utilities. While such donations to barely regulated non-profit groups are legal, a number of utilities have faced criticism for it. Dark money giving to tax exempt groups has helped utilities increase electricity prices, hinder solar schemes and helped elect sympathetic legislators in recent years. Critics argue the dark money spending is kept private, in part to ensure the disruptive transition to green energy happens on the companies’ terms or not at all, and to hinder oversight.

via The Guardian US|
#dark-money#environmental-issues#political-donations