Political action committees providing additional funding to Republican congressional candidates entered the stretch run of the 2024 election season with a slight cash-on-hand advantage over opposing PACs backing Democratic candidates.
Between July 15 and July 20, four funds unofficially boosting the campaigns of Democratic and Republican candidates running for the House and Senate issued quarterly and monthly statements with the Federal Election Commission. Those forms showed conservative-leaning funds outraised liberal PACs and headed into July with about $15 million more in the bank.
Two political action committees work to support Democratic candidates: the super PAC, Senate Majority PAC, and the hybrid PAC, House Majority PAC. Their conservative counterparts—the hybrid PAC Congressional Leadership Fund and the super PAC Senate Leadership Fund—help fund Republican campaigns. None of the PACs are officially associated with the political parties.
On July 15, the Congressional Leadership Fund and the Senate Leadership Fund told the FEC they together raised about $106.6 million between April and June 2024. Collectively, the two funds held about $227.9 million at the end of June.
Conservative Donors
GOP megadonor Paul Singer sent a $10 million check to both the Congressional and Senate Leadership Fund in June.Singer, the founder of Elliott Investment Management LP, is a regular supporter of conservative causes. In December, Singer sent $5 million to the SFA Fund, which supported the former U.S. Ambassador to the U.N.’s run for president.
The biggest check of the quarter for either conservative fund came from One Nation. In June, the 501(c)(4) nonprofit sent $18.4 million to the Senate Leadership Fund.
One Nation is closely linked to the Senate Leadership Fund. According to its most recent tax filing, both the Fund and One Nation are led by Steven Law.
Miriam Adelson, the widow of late GOP megadonor Sheldon Adelson, sent $5 million to the Congressional Leadership Fund and $10 million to the Senate Leadership Fund in May.
Representatives of Adelson previously told The Epoch Times the donor plans on making significant contributions to Republican causes and will financially support the reelection of former President Donald Trump.
Ken Griffin, the CEO of Citadel, sent $10 million to the Congressional Leadership Fund in May and $7.5 million to the Senate Leadership Fund in March.
According to the watchdog organization OpenSecrets, Griffin is the fourth largest individual donor of the 2024 election cycle. He has not donated to Trump’s campaign so far, but he did support Nikki Haley’s.
A number of donors sent checks of $2 million or more to either fund.
American Action Network, a 501(c)(4) nonprofit, sent $2.5 million to the Congressional Leadership Fund in June. Both the nonprofit and the hybrid PAC are led by Daniel Conston, according to the IRS and the Fund.
Brothers Christopher Reyes and Jude Reyes, the co-founders of Reyes Holdings LLC, both sent $2.25 million to the Senate Leadership Fund in June. According to donor records maintained by OpenSecrets, both brothers have supported the funds in past election cycles.
Both Rob Walton and Jim Walton gave $2 million to the Senate Leadership Fund in June. Both are heirs to the Walton family fortune.
Steven Schwarzman, the chairman and CEO of the Blackstone Group, sent $2 million to the Congressional Leadership Fund in April. Schwarzman gave millions to both groups in the past, according to donor records maintained by OpenSecrets.
Liberal Donors
Investor James Simons sent large gifts to both the liberal PACs before his death on May 10. At the beginning of May, Simons, a Wall Street legend and the founder of Renaissance Technologies, sent $3.5 million to the House Majority PAC and $2.5 million to the Senate Majority PAC.James Simons, most recently the president of Euclidean Capital, and his wife, Marilyn Simons, the president of the Simons Foundation, are significant backers of progressive groups, according to OpenSecrets donor records.
Fred Eychaner, one of the most prominent individual supporters of progressive politics in recent years, gave $2 million to the Senate Majority PAC and $3 million to the House Majority PAC during the quarter. According to OpenSecrets, Eychaner, the former leader of Chicago-based Newsweb Corp., is the 10th largest individual donor of the 2024 election cycle. This makes him the second-most generous contributor behind LinkedIn Corp. founder Reid Hoffman.
Stephen Mandel, the founder and president of Lone Pine Capital, sent $3 million to the Senate Majority PAC in May. According to OpenSecrets donor records, Mandel is a regular, seven-figure supporter of progressive PACs.
A pair of donors broke the $2 million mark during the second quarter, too.
In the quarter, Elizabeth Simons, daughter of James Simons, and Jeff Skoll, an investor and former film producer, sent $2 million to the Senate Majority PAC.
Simons co-founded the Heising-Simons Foundation with her husband, Mark Heising. That group focuses on climate, education, human rights, and science philanthropy.
Skoll, who told the FEC he is currently a member at Sequoia Holdings LLC, founded Participant Media LLC in 2004. The production company announced its closure in 2024 but was known for making films with a progressive worldview, such as “An Inconvenient Truth” and “Food Inc.” It produced Oscar winners like “Green Book” and “Spotlight.”
