Ken Griffin, Citadel at CNBC’s Delivering Alpha,Sept 28, 2022.
Scott Mlyn|CNBC
Citadel’s billionaire CEO, Ken Griffin, is among Wall Street’s greatest political donors in the 2022 midterms, offering more than $100 million towards state and federal prospects throughout the nation considering that April 2021, project financing records reveal.
The $50 million Griffin has actually contributed to Republicans running in federal races alone make him the celebration’s single greatest private donor from the financing market and the third-biggest political donor to federal prospects in this election cycle, according to information tracked by project financing guard dog OpenSecrets.
Only Soros Fund Management creator George Soros and shipping mogul Richard Uihlein have actually provided more to prospects running for the U.S. House orSenate Soros has actually contributed over $128 million to Democrats while Uihlein has actually provided $53 million to Republicans, according to OpenSecrets.
Griffin, nevertheless, has actually invested another $50 million throughout this election cycle– which ranges fromJan 1, 2021 through completion of this year– on the stopped working Illinois gubernatorial project of Aurora, Ill., Mayor Richard Irvin, who lost in the Republican main, according to state project financing records.
Citadel revealed strategies this summer season to move its head office from Chicago to Miami, as the Windy City has a hard time to stop an increase in criminal offense. Griffin has actually formerly stated part of his fight with IllinoisGov J. B. Pritzker is over the Democratic leader’s record on criminal offense. Griffin stated at a DealBook conference in 2015 that when he raised the criminal offense problem to Pritzker, “he took the moment to call me a liar.”
Zia Ahmed, a representative for Griffin, informed CNBC in a declaration that the Citadel CEO is intending to “broaden the tent of the Republican Party.”
“Ken wants to elevate talented candidates and broaden the tent of the Republican Party to make it more representative of our country,” Ahmed stated. “He supports leaders who will focus on education, job creation, public safety and a strong national defense so that every individual has access to the American dream.”
Democratic political operatives have actually taken goal at Griffin, specifically as he’s attempted to make an effect on elections.
The Democratic Governors Association, an outdoors group that backs Democrats, arranged opposition research study on Griffin as he was choosing who to support in the Illinois Republican main for guv. The research study, which was evaluated by CNBC, is entitled “Ken Griffin Has Been Playing Kingmaker In IL Politics With No Consequences.” It’s a collection of public files and reporting that consisted of a concentrate on Griffin’s divorces. Pritzker, who has an approximated net worth of $3.6 billion, contributed $24 million to the group as Griffin transferred to back Irvin, according to records submitted to the internal revenue service.
In a declaration to CNBC, the Democratic guvs’ group compared Griffin’s contributions to those of Charles Koch and his sibling, the late DavidKoch They stated that Griffin is worthy of examination due to him ending up being a significant donor for Republicans.
“Much like when the Koch Brothers were the Republican Party’s number one donor it was important for the public to understand how they were trying to use their money to further their own special interests,” a Democratic Governors Association representative stated after being inquired about the opposition research study. “Ken Griffin is now the largest donor in the GOP and deserves the same kind of scrutiny.”
Senate Minority Leader Mitch McConnell, R-Ky, and other GOP leaders have actually independently courted Griffin as one of their crucial and profitable donors this cycle, as Republicans attempt to reclaim both the U.S. House and Senate, according to individuals knowledgeable about the discussions.
Democrats manage the House and Senate, however by slim margins. The Senate is divided 50-50 with Democrats counting on Vice President Kamala Harris to break any ties. Cook Political Report labels Senate seats held bySens Raphael Warnock, D-Ga, Catherine Cortez Masto, D-Nev, and Ron Johnson, R-Wis, as toss-ups. In the House, Democrats have a nine-seat bulk. But the Cook report tasks that 30 of the chamber’s 435 seats are up for grabs.
Data from AdImpact reveals the basic election defend control of the Senate has actually cost over $1 billion with practically 30 days delegated go up until ElectionDay In overall, federal prospects and PACs have actually invested in excess of $6.4 billion on the 2022 midterms, putting them on track to be the most pricey ever.
Republican leaders are relying on Griffin to take the lead after 2 of the GOP celebration’s most prominent donors have actually passed away: previous executive vice president of Koch Industries David Koch at 79 in August 2019 and gambling establishment mogul Sheldon Adelson at 87 in January 2021.
CEO and chairman of gambling establishment business Las Vegas Sands Sheldon Adelson (L) listens as United States President Donald Trump provides remarks at a Keep America Great rally in Las Vegas, Nevada, on February 21, 2020.
Jim Watson|AFP|Getty Images
“He likes being a player” in politics, a Koch political consultant informed CNBC when inquired about Griffin’s efforts to sway the midterms. Griffin stated in a 2012 interview with the Chicago Tribune that he understood David Koch and his sibling Charles for “a number of years” and routinely went to the Koch network workshops, where magnate would gather with the group’s donors.
The Koch’s policy network has actually invested numerous countless dollars over the previous years on projects.
David Koch
Carlo Allegri|Reuters
Griffin, 53, has “youth on his side and probably $35 billion,” the Koch consultant stated. “He could step up but those are big shoes to fill.” Forbes price quotes Griffin has a net worth of $305 billion.
Among Wall Street executives, the next greatest GOP donors consist of Blackstone CEO Steve Schwarzman with $20 million in contributions and Paul Singer, the creator of Elliott Management, who’s contributed $14 million throughout this election cycle. Jeffrey Yass, the co-founder of Philadelphia based trading company Susquehanna International Group, has actually contributed over $30 million.
McConnell and celebration authorities this summer season were anticipating Griffin to cut a multimillion-dollar check to the Senate Leadership Fund, according to those knowledgeable about McConnell’s thinking. Though McConnell does not run the incredibly PAC, which is committed to assisting Republicans get chosen to the Senate, it’s carefully lined up with the senator and run by his previous chief of personnel, Steven Law.
Griffin contributed $10 million to the PAC in 2 equally split checks sent out in December and March, Federal Election Commission filings reveal. Griffin cut another check to the PAC in the 3rd quarter, according to an individual near the billionaire, however they would not state just how much and the PAC does not require to divulge its latest fundraising records to the FEC up untilOct 15.
Griffin likewise just recently contributed to the Congressional Leadership Fund, an incredibly PAC support House Republican prospects, that individual stated, decreasing to state just how much. FEC records reveal Griffin contributed over $18 million to that group fromJan 1, 2021 through June.
An agent for McConnell did not return an ask for remark.
Griffin offered $5 million in 2015 to a different political action committee support FloridaGov Ron DeSantis’ 2022 reelection quote and an extra $5 million to the Republican Party of Florida in August, according to state project financing records.
During CNBC’s Delivering Alpha Conference, Griffin showed that he’s ended up being so near DeSantis that his group informed the guv that Griffin didn’t concur with DeSantis’ choice to fly 2 airplanes of Central and South American migrants to Martha’s Vineyard.
“I don’t agree with what he did,” Griffin stated when asked at the conference about DeSantis shipping migrants toFlorida “I’m certain that my team’s communicated that to him,” he included. He likewise stated he was open to ending up being Treasury secretary if the nation was experiencing a recession. DeSantis hasn’t eliminated running for president in the upcoming 2024 election.
