Restricted by law from giving large amounts directly to candidates’ campaigns, wealthy individuals can instead donate to political action committees, better known as super-PACs.
George Soros donated $6 million to a super-PAC financing US Democratic presidential front-runner Hillary Clinton last month, and Haim Saban, an Israeli-American media tycoon, and his wife Cheryl have contributed a total of $5 million to Clinton’s super-PAC.
Press TV reports:
Soros has now provided a total of $7 million in this election cycle to Priorities USA Action, a super-PAC which raised $41 million on behalf of Clinton in 2015, according to the committee’s statement issued on Sunday.
The super-PAC raised $25.3 million during the last 6 months, and Soros’s contribution accounted for almost a quarter of its funding haul.
Haim Saban, an Israeli-American media tycoon, and his wife Cheryl have contributed a total of $5 million to Clinton’s super-PAC.
Clinton has written a letter to Saban, pledging to speak out publicly against the boycott, divestment and sanctions (BDS) campaign aimed at Israel.
Wealthy individuals, who are restricted by law from giving large amounts directly to candidates’ campaigns, donate to political action committees, commonly known as super-PACs.
In the 2010 Citizens United case ruling, the US Supreme Court allowed unlimited independent spending by corporations in elections.
According to a study published by the New York Times, wealthy individuals and corporations have begun to replace powerless people as direct beneficiaries of the US political system and the Constitution.
Clinton is maintaining a slim lead over Senator Bernie Sanders in Iowa, according to a poll released on Saturday.
Clinton beat out rival Sanders in the Des Moines Register/Bloomberg poll. She has 45 percent support, with Sanders at 42 percent.
On Saturday, The New York Times endorsed Clinton for the 2016 Democratic nomination, a potential boost for the candidate two days before the Iowa caucuses.