
There is absolutely no doubt anymore that a close collection of billionaires surrounding Mitt Romney is raising obscene amounts of money to put one of their own in the White House. Rolling Stones' Tim Dickinson has conducted brilliant research and written a powerful article about the 16 billionaires who have made it a mission to elect Mitt Romney.
Dickerson opens with
Presidential politics has always been a rich man's game. But now, thanks to the Supreme Court ruling in Citizens United that upended decades of limits on campaign donations, financing a presidential race is the exclusive domain of the kind of megadonor whose portfolios make Mitt Romney look middle-class. "I have lots of money, and can give it legally now," Texas billionaire and top GOP moneyman Harold Simmons recently bragged to The Wall Street Journal. "Just never to Democrats."
The journalist summarizes the "Billionaire 16":
That capitulation is evident in Romney's campaign. Most of the megadonors backing his candidacy are elderly billionaires: Their median age is 66, and their median wealth is $1 billion. Each is looking for a payoff that will benefit his business interests, and they will all profit from Romney's pledge to eliminate inheritance taxes, extend the Bush tax cuts for the superwealthy – and then slash the top tax rate by another 20 percent. Romney has firmly joined the ranks of the economic nutcases who spout the lie of trickle-down economics. "Support from billionaires has always been the main thing keeping those charlatans and cranks in business," Krugman noted. "And now the same people effectively own a whole political party."
Below are just four of the sixteen but click here to see all of "Billionaire 16":
THE COKE DEALER: William Koch
Position: The "other" Koch brother, Bill, sold his stake in Koch Industries to brothers David and Charles in the 1980s. He now runs Oxbow Carbon, a global dealer in petroleum coke, a cement-manufacturing fuel that's high in climate-warming carbon dioxide.
Age 72
Fortune $4 billion (Forbes 400 rank: 81)
Past Donations Koch and his wife gave $70,000 to House Speaker John Boehner last year. Boehner "looks out for business interests," a Koch deputy explained.
Current Donations Gave $2 million to Romney's Super PAC, including $250,000 in his own name, $750,000 through Oxbow Carbon and another $1 million through a subsidiary. A sister company of Oxbow operates a Colorado mine that sells coal to the federal government – meaning that its campaign contribution is subsidized, in part, by taxpayers.
What He Wants To pollute for free. Koch's fortune is tied up in some of the nation's dirtiest industries. He blasts the EPA, which has been trying to crack down on carbon pollution, as "hyperaggressive."
How He Lives His wine collection, which includes 40,000 bottles, is worth $12 million. Owns a mansion in Palm Beach, a vacation villa in Cape Cod, four properties near Aspen worth $47.5 million, and a cattle ranch in Colorado decorated with an Old West ghost town that he bought for $3 million and moved to his land. Purchased the only known photograph of Billy the Kid.
THE WASTE BARON: Harold Simmons
Position Traffics in toxic chemicals and hazardous waste as head of Contran; owns one of the world's largest producers of titanium. A former corporate raider nicknamed "Ice Man," he pioneered the leveraged-buyout tactics that decimated American industry.
Age 81
Fortune $9.8 billion (Forbes rank: 33)
Past Donations Spent $3 million to Swift-boat John Kerry in 2004, and another $2.8 million in 2008 on "issue ads" linking Obama to Sixties radical Bill Ayers. "If we had run more ads," he lamented, "we could have killed Obama."
Current Donations Before backing Romney with $800,000, Simmons made $1 million bets on Rick Perry, Newt Gingrich and Rick Santorum. His total giving of $16.7 million makes him the GOP's second-largest investor after Adelson. Most of the cash went to American Crossroads, the Super PAC founded by Karl Rove that has close ties to the Romney campaign.
What He Wants Plans to store radioactive waste from 36 states in an underground dump in Texas; has been sued repeatedly by the Justice Department for failing to clean up contaminated Superfund sites. Calls Obama "the most dangerous American alive, because he would eliminate free enterprise in this country."
How He Lives Doles out $100 bills to panhandlers. Jets between his coastal estate in California, his Arkansas ranch stocked with 35 bears and 100 elk, and his $4 million mansion on a private lake in Dallas, surrounded by 17,000 tulips.
THE PYRAMID SCHEMER: Frank VanderSloot
Position CEO of Melaleuca Inc., a "multilevel marketing" firm based in Idaho that sells off-brand cleaning products and nutritional supplements. Moonlights as a megarancher of cattle and quarter horses.
Age 63
Fortune Melaleuca's annual revenues last year totaled $1 billion. VanderSloot is the 86th-largest private landowner in the United States, holding 110,448 acres.
Past Donations More than $500,000 to Republicans, including $8,100 to former GOP senator Larry Craig of Idaho.
Current Donations Melaleuca and three Asian subsidiaries gave a combined $1 million to Romney's Super PAC. VanderSloot also serves as a national finance co-chair of the Romney campaign.
What He Wants Fewer consumer protections. The FDA has rebuked Melaleuca for making "false and misleading" claims about its supplements, and the company has signed a consent decree agreeing to "not engage in the marketing and promotion of an illegal pyramid." VanderSloot is also an anti-gay crusader: He tried to kill a PBS program for promoting "the homosexual lifestyle," and gave big bucks to pass California's ban on same-sex marriage.
How He Lives Owns a 17-bedroom home in Idaho Falls. Breeds Angus cattle in Idaho and quarter horses in Utah.
THE KING OF CHICAGO: Kenneth Griffin
Position CEO of Citadel LLC, a hedge fund that accounted for nearly eight percent of all U.S. trading before the crash.
Age 43
Fortune $3 billion (Forbes rank: 171)
Past Donations A Chicago power broker, Griffin gave $200,000 to Rahm Emanuel's mayoral bid.
Current Donations Gave $1 million to Restore Our Future, plus another $1 million to American Crossroads. Believes that he and his fellow billionaires "actually have an insufficient influence" on the political process.
What He Wants An end to the Volcker Rule and Dodd-Frank, reforms that seek to rein in Wall Street excesses. Complains that "every bank in the United States is really under the thumb of the government." Has donated $1.5 million to Americans for Prosperity, a Koch brothers outfit that lobbies against environmental regulations.
How He Lives Held his wedding reception at Versailles. Owns a $7 million penthouse in Chicago, a $40 million apartment in New York, a mansion in Aspen and a vacation estate in Hawaii. Bought a Jasper Johns painting for $80 million.