New York billionaires can have anything they want in the city that never sleeps, but what they really desire is to have influence on the 2016 presidential elections.
Some say wealthy donors are looking to buy a president, while others simply say they want to elect a like-minded candidate and the best way to do that is to fund them.
These billionaires are scouring the field like they run their billion dollar businesses, with a careful eye on which candidate benefits them most.
“Everyone wants to pick a winner,” says John Catsimatidis, who has an estimated net worth of more than $3 billion and has recently hosted a parade of potential White House candidates at his home, including Florida Sen. Marco Rubio, Rick Perry of Texas and George Pataki of New York, according to the Daily News.
In the past, Catsimatidis raised money for Mitt Romney in the 2012 elections, but this time he has his eye on Wisconsin Gov. Scott Walker. However, he has commented on having support for Democrat Hillary Clinton for years and recently contributed to her cause. “I’ve done a few things currently, because I think she has a lot of common sense,” he told the Daily News.
Catsimatidis isn’t the only billionaire prepared to drop millions for the 2016 presidential elections. The Koch brothers have also stated that they will be donating nearly $900 million to the Republican side of the presidential election.
Although billionaires throughout the country are seeking to place large quantities of money on the contender of their choice, it may not be the best move for the candidate.
For candidates such as Gov. Chris Christie and Hillary Clinton, this will support the theory that they are “out of touch” with the American public as they accept large sums of money to fund their already glamorous lives.
“Having a billionaire behind you helps with credibility, because the ultra-rich are seen as smart and accomplished. But having their support can be problematic if your policy stances make it look like you are under the thumb of the rich,” Brookings Institution’s Darrell West, author of “Billionaires: Reflections on the Upper Crust,” was quoted as saying.
When it comes to “billionaire activism,” West notes, “the key differential is by party: In 2012, 80% of the large contributions to super PACs went to Republicans. Democrats may get buried by GOP cash in 2016.”
The Koch brothers have yet to decide on a specific candidate, but they have held events in the West Coast to gather potential Republican contenders.
The brothers seek, spokesman Matt Lloyd said, “To further a more free society by advancing ideas and policies that help people improve their lives, especially the most disadvantaged.”
Hedge fund billionaire Paul Singer and Michael Bloomberg are uncommitted, but Home Depot’s Ken Langone has decided upon Gov. Chris Christine.
Donald Trump, the man worth $4 billion, is also undecided despite many requests from nominees but he theoretically could place a bet on himself.
It may seem like the majority of the donations are headed to the Republican nominations, but Hillary Clinton is also gaining some traction. The 2016 draft PAC has already received the maximum $25,000 donation from local members of the ten-figure club, including financier George Soros.
“Hillary will be able to count on supporters from all walks of life, should she run for president,” said “Ready” PAC spokesman Seth Bringman. “We have sought to show her that both small-dollar and large-dollar donors will be ready, because it will take everyone’s effort to help her win.”
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