Top 10 Organizations Donate Over $255m Towards US 2020 Election Campaigns | Lagos Post Online

Top 10 Organizations Donate Over $255m Towards US 2020 Election Campaigns

Data presented by Buy Shares indicates that the top ten organizations have contributed about $255.20 million towards this year’s  U.S elections campaign. The donations are as of September 8, 2020.

Democratic Party receives more donations

The Democratic Party has received the highest contribution at $135.59 million while the Republican Party has received $119.61 million. Across both parties, Uline Inc’s $40.09 million contributions towards the Republican Party campaign is the highest.

Other top donors towards the Republican Party include Blackstone Group ($31.97 million), American Action Network ($19.88 million), Las Vegas Sands ($14.06 million), and Adelson Clinic for Drug AbuseTreatment & Research ($13.59 million).

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Elsewhere, Fahr LLC is the largest contributor towards Democratic Party campaigns at $39.65 million. Other leading donors include Sixteen Thirty Fund ($34.33 million), Paloma Partners ($21.76 million), Senate Majority PAC ($21.41 million), and Carpenters & Joiners Union ($18.42 million).

To date, the impact of contributions to campaigns is not yet clear. According to the research report:

“There is still debate if the organization’s donations influence politics. According to experts, successful companies usually bet their contributions towards the winning candidates. On the other hand, small firms are likely to back candidates who will lose. Political pundits argue that big companies are in a better position at foreseeing future events. To a large extent, the company’s usually support candidates or political parties that are likely to support their priorities. Additionally, in some incidents, stocks of companies that backed the winning candidate might rise after the election. The boost in stock prices tends to attract investors.”

Political contributions are mainly used to cover the arising expenditure like the cost of travel, political consulting, and the direct costs of communicating.
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