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Billionaires Pour $3 Billion Into 2024 Election Fight

3/10/2026

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Summary

Story summary

Billionaires contributed nearly $3 billion to 2024 U.S. federal elections, about 19% of total spending.
The contributions came from 300 billionaires and families, averaging $10 million each.
Stephen Schwarzman, CEO of Blackstone, donated $8 million to Republican candidate Tim Sheehy.
The rise in billionaire donations follows the 2010 Citizens United decision, triggering warnings of corruption and calls for reforms.

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Story summary

Billionaires contributed nearly $3 billion to 2024 U.S. federal elections, about 19% of total spending.
The contributions came from 300 billionaires and families, averaging $10 million each.
Stephen Schwarzman, CEO of Blackstone, donated $8 million to Republican candidate Tim Sheehy.
The rise in billionaire donations follows the 2010 Citizens United decision, triggering warnings of corruption and calls for reforms.