American Crossroads Backed Almost Entirely by Billionaires

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Tuesday, September 28, 2010 at 9:26 am

The latest FEC filings from American Crossroads continue to tell a similar story: the nonprofit political spending group is funded almost entirely by billionaires. Salon did the math yesterday and calculated that in August the group took in approximately $2.6 million in total, and that a full $2.4 million — or 91 percent — came from just three billionaire beneficiaries:

We’ve previously reported that the group is getting a staggering amount of support from billionaires, several of whom made their fortune in the energy industry and live in Texas. Last month Trevor Rees-Jones, president of Dallas-based Chief Oil and Gas, contributed another $1 million to American Crossroads, on top of the $1 million he gave earlier this year. Fellow billionaire Robert Rowling, CEO of the company TRT Holdings, also gave Crossroads his second $1 million donation in August.

The only new name on the list is American Financial Group, a Cincinnati-based firm owned by nonagenerian Carl Linder. Forbes put Linder’s net worth at $1.7 billion this year, a fortune built up through the growth of United Dairy Farmers. He previously owned Chiquita and currently owns a stake in the Cincinnati Reds. American Financial Group gave American Crossroads $400,000 last month.

Another new billionaire to add to the list of Crossroads backers is Jerry Perenchio of Bel Air. He is worth $2.1 billion, the bulk of which was made off the sale of Spanish language TV station Univision, according to Forbes. He is a major Republican donor who was co-chair of John McCain’s national finance committee. Perenchio gave American Crossroads $1 million in July.

Of course, the groups’s sister organization, a 501(c)4 called American Crossroads GPS, has quite possibly been raising even more. Because the group is only required to file with the IRS, however, we may never know the sources of its funding.

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29 Comments

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Bruce Dohner
Comment posted September 28, 2010 @ 6:01 pm

This is Bruce Dohner from Colorado and I just want to say I think you need to keep your money out of our local elections. In addition I think you should put some true statements in your mis-stated adds. And by the way if we would stop sending out tax money to all and I mean all the countries of the world we could have all the funds we need to take care of our citizens.


youmustbejoking
Comment posted September 29, 2010 @ 11:06 am

I hope their money is thrown down a black hole and does no good for the rethuglicans. No group should be allowed to buy elections, which is precisely what they are trying to do. I've seen their ads where I live= they have no business being able to butt into local elections. May they all go broke and rue the day they gave so much money to influence elections.


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Comment posted October 4, 2010 @ 6:05 am

How much did George Soros donate to Democrats? How much of it was illegal campaign contributions on thousands of $50 gift cards from offshore locations. How many millionaires and billionaires on Wall Street donated to the Democrats, and how much did they donate?
Democrats are hypocrites!


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Sdfsd
Comment posted October 4, 2010 @ 2:23 pm

Sasquatch you idiot. This article is not about Democrats. Nor does anything state that Democrats do not take large amounts of cash. You come up with hypocrite from your own sour reactions as a pathetic attempt to hide the horrible reputation of the Republican party. Grow a pair.


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Bansf1
Comment posted October 7, 2010 @ 4:58 am

Bruce,

I agree with what you say but we don't really send too many tax dollars to other countries as aid. What we do is pay our own corporations offensive amounts of money to provide aid and infrastructure improvements to other companies. Then we (the taxpayers) are told what great humanitarians we are while we actually line the pockets of our own richest citizens at the taxpayers expense. Sick, isn't it. No wonder Americans are viewed as arrogant and selfish.

Sdfsd,

I also agree with you. This isn't a battle between parties but instead a battle between the wealthy and the rest of us. If you aren't a billionaire then you are one of the rest of us. The only way they can win is by convincing us to give them our votes and all of our money. We have the numbers on our side. Unfortunately most of “us” will belive anything we're told and are happy to fight amongst ourselves instead of tracking down the real villians and taking the wealth back for the people.


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Lori Laurene McMaster
Comment posted October 14, 2010 @ 1:57 pm

Bruce, I agree. They are in our state and Washingtonian do not like it. I have to mute the tv or turn the channel. Like intitiative 1098 gives a tax break for singles who make under 200.000 and couples 400,000 per year. and it can't be changed unless the people vote for it to change. The ads from Crossroad are out right lyeing. It is just like initative 1053; I agree texas stay in texas and Karl Rove, you are a really bad man and for the people who are being paid to condone this karma will return your kindness.

Lori L McMaster


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