In December 2014, Jeb began fundraising for his Presidential race. Like many candidates, he has taken advantage of a loophole in federal election fundraising laws to set up a Super Political Action Committee (PAC), called Right to Rise. That allowed Jeb to meet with supporters ahead of formally announcing his campaign. As of June 30th 2015, Right to Rise has raised over $103 million. In addition, Jeb's proper, legal campaign raised $11 million since he announced his candidacy.
Many Jeb Bush supporters are people and companies directly or indirectly involved in the real estate business, owing largely to Jeb's 35 years in the industry. For example, John C. Cushman III, Chairman of Cushman & Wakefield and Stephen Schwarzman, Chairman and CEO of the BlackStone Group LP (BX) have contributed $300,000 and $100,000 respectively to Right to Rise. (See also: How Much Does It Cost To Become President?)
They weren't, however, the biggest contributors. Helen Schwab, wife of Charles Schwab, donated $1.5 million to Right to Rise. Miguel Fernandez contributed more than $3 million, making him the largest individual contributor to Right to Rise. Robert Penske gave $250,000. Tom Benson, owner of the New Orleans Saints, donated $100,000. Jeb’s brother George gave $95,000 and their father threw in $125,000. Bank of America Corp (BAC) Chief Operating Officer (COO) Thomas Montag donated $100,000.
Montag wasn’t the only financial services bigwig who gave money to Right to Rise. Federal Election Commission records show that numerous employees of Bank of America, Citigroup Inc (C), Goldman Sachs Group Inc (GS), JPMorgan Chase & Co. (JPM), Metlife Inc. (MET) and Morgan Stanley (MS) contributed to his campaign, with one Barclay’s employee donating $250,000.
Marco Rubio's highly touted debate performance on Wednesday has already yielded a significant tangible benefit: The Republican presidential candidate has snagged the support of mega-donor Paul Singer, in a move that will be widely seen in the political world as a blow to struggling rival Jeb Bush. One of the party's most prolific and hard-to-please donors, Singer gave more than $16 million to candidates and political committees in the last four years, according to records on file with the Federal Election Commission. Fiscally conservative and socially moderate, the hedge-fund manager has donated to conservative candidates and causes, such as pro-Israel groups, former Ambassador John Bolton, and the Tea Party Patriots, but he has steered many of his contributions to his own super political action committee, American Unity, which supports Republicans who back gay rights. He gave $1 million to Restore Our Future, the super-PAC supporting Mitt Romney's 2012 presidential campaign, and he supported former New York City Mayor Rudy Giuliani's 2008 White House bid.
An interesting FR article about mega donor Paul Singer posted by yours truly earlier today.:
How does Gov Kasich feel about Jeb buying Ohio?
Look for Trump’s poll numbers to go up in Ohio.
Was visiting Ohio last week and Jeb’s TV ads were already plastering the airwaves.
If Jeb Bush wipes out Kasich, I am NOT going to cry!
All part of Jeb’s clever plan to switch parties in January and run against Hillary in the Democrat primaries.
The Cheap Labor Express can spend whatever they want, they will be unable to elect Yeb!
I like the commercial where Jeb! runs around all hyperactive and shouting for some undefined reason.
It’s hysterically pathetic, really funny stuff.