Billionaires for Bush - 116
August 07, 2004
By: Jonathan Salant
Bloomberg News
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Election 2004
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Campaign Financing and Lobbying
President George W. Bush received donations from 79 percent of the U.S. billionaires who contributed to a presidential campaign this year, while Democrat John Kerry was backed by 21 percent, a study says.
Bush received contributions from 116 billionaires, including Bill Gates, chairman of Redmond, Wash.-based Microsoft Corp., who was listed by Forbes magazine as the world's richest person, and Frederick Smith, chief executive of FedEx Corp., according to PoliticalMoneyLine, which tracks campaign donations.
Kerry got donations from 31 billionaires, including Warren Buffett, chairman of Omaha- based Berkshire Hathaway Inc., and the world's second- richest person; Eli Broad, chairman of AIG SunAmerica Inc., a subsidiary of New York-based American International Group Inc.; and David Geffen, co-founder of Glendale, Calif.-based DreamWorks SKG, a movie studio.
Republicans often outscore Democrats in fund raising among corporate executives.
The 58-year-old Bush has 280 CEOs from Russell 1000 index companies, to 52 for the 60-year-old Kerry, a four-term Massachusetts senator, according to PoliticalMoneyLine, a nonpartisan group based in Washington.
Kerry, who accepted the Democratic presidential nomination last week, released a list of 204 executives who endorse his economic policies.
Of the 277 U.S. billionaires identified by Forbes magazine, 153 gave to a candidate, including six who gave to both Bush and Kerry.
Those giving to both candidates included Charles Dolan, chairman of Bethpage, N.Y.- based Cablevision Systems Corp.; and Donald Trump, chief executive officer of Atlantic City, N.J.-based Trump Hotels and Casino Resorts.
Another 124 billionaires, or 45 percent of the total, gave to neither candidate, including Ted Turner, the founder of Cable News Network and a former vice chairman of New York-based Time Warner Inc.; Roy Disney, chairman of Shamrock Holdings Inc. and a former director of the Walt Disney Co., founded by his uncle; and Forrest Mars Jr., chairman of Mars Inc.
"I'm always surprised at the separation of the business world from politics in a number of wealthy people," said Kent Cooper, co- founder of PoliticalMoneyLine. "To them, politics is a different world, and the business mind has a hard time understanding how politics works."
Kerry has the support of two billionaires who did not give to either presidential campaign: Steve Jobs, chief executive officer of Cupertino, Calif.-based Apple Computer Inc., and Barry Diller, chairman of New York-based IAC/InterActiveCorp, an Internet commerce and television shopping company.
A Kerry campaign spokesman declined to comment.
Calls to the Bush campaign were not returned.
Wealthy donors
116 Number of billionaires who made donations this year to President Bush.
31 Number of billionaires who made donations this year to Democratic presidential nominee John Kerry.
6 Number of billionaires who made donations this year to both Bush and Kerry.
http://billionairesforbush.com/index.php