Axios: “In an election that both sides see as existential, the moral guardrails for political spending are vanishing. Today’s billionaires are shredding populist taboos, driving news cycles and increasingly shaping the terms of American democracy.” “The big picture: 150 billionaire families have spent a total of $1.9 billion in support of presidential and congressional candidates this cycle.” “That’s $700 million (or 58%) more than the $1.2 billion spent by more than 600 individual billionaires during the 2020 election.” The Financial Times reports that billionaires had contributed at least $695 million, or 18%, of the total funds raised by the presidential candidates and allied groups. Politico: Mark Cuban shows Democrats what they’ve been missing.
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