Given the immense spectacle that is the road to the White House, campaigning in the U.S. in an incredibly expensive endeavor. But it’s important to take note of who is financing a political campaign, as it can shed light onto who has a candidate’s ear, and where a potential president’s priorities lie.
This is a list of the top five corporate donors to the Joe Biden 2020 Presidential Campaign. It is illegal for an organization to directly donate to a campaign so the top contributors have been calculated by tracking money from the company to the campaign through individuals who own the company, family members of company executives and owners, and the organizations’ PACs, or political action committees. These numbers also take into account each corporation’s subsidiaries.
Many of the top 20 contributors to the Biden campaign are organizations and hedge funds that represent individuals, and therefore are not included on the list because they don’t really represent a corporate donation. For example, Euclidean Capital donated a whopping $3,002,894, making it the 6th largest donor to the Biden campaign. However, the “family office,” as it’s called, acts as a private equity investment channel for the billionaire James Simons, who has also contributed through another hedge fund, Renaissance Technologies. Simons’ close personal hold on both of these funds qualify his giving as individual donations, and not corporate contributions.
Similarly, the American Federation of Teachers, the American Federation of State/County/Municipal Employees, and the International Brotherhood of Electrical Workers are all in the list of top donors, but have been excluded due to the fact that they are unions. Still, their support for Biden’s candidacy is not insignificant.
Without further explanation, here are Biden’s top 5 corporate contributors according to data collected by OpenSecrets.org:
1. Paloma Partners – $8,005,555
Paloma Partners Management Co is an investment consulting company. The firm also offers services for risk management, accounting, and tax compliance. It is based in Greenwich, Connecticut.
2. Simon Property Group – $4,109,625
Simon Property Group is a commercial real estate company and the largest shopping mall operator in the country. Headquarters are in Indianapolis, Indiana.
3. Marcus & Millichap – $3,006,894
This is another real estate business, offering brokerage services and consulting for commercial property. It is based in Calabasas, California, but works with properties across Canada and the U.S.
4. Choice Hotels International – 2,009,442
This hospitality giant franchises hotel properties in several countries. One of the largest hotel chains in the world, this conglomerate owns brands like Quality Inn, MainStay Suites, Econo Lodge, and Vacation Rentals by Choice Hotels. The company is based in Rockville, Maryland.
5. Masimo Corp – $1,750,000
Masimo is a medical device company specializing in noninvasive patient monitoring technologies. This means they work on technologies that measure people’s vitals, hemoglobin and brain functioning without invasive procedures. The company also works on hospital automation technology. Masimo is based in Irvine, California.