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A small core of super-rich individuals is responsible for the record sums cascading into the coffers of super PACs for the 2016 elections, a dynamic that harks back to the financing of presidential campaigns in the Gilded Age.
Close to half the money — 41 percent — raised by the groups by the end of February came from just 50 mega-donors and their relatives, according to a Washington Post analysis of federal campaign finance reports. Thirty-six of those are Republican supporters who have invested millions in trying to shape the GOP nomination contest — accounting for more than 70 percent of the money from the top 50.
In all, donors this cycle have given more than $607 million to 2,300 super PACs, which can accept unlimited contributions from individuals and corporations. That means super PAC money is on track to surpass the $828 million that the Center for Responsive Politics found was raised by such groups for the 2012 elections.
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San Francisco environmentalist and former hedge-fund manager Tom Steyer is the biggest super PAC donor of 2016. (Jahi Chikwendiu/The Washington Post)
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