Billionaires made 19 percent of all reported federal campaign contributions in 2024, a Times analysis shows, and even more in some local elections. Wealthy donors are reaping the rewards.
New York’s economic development policy was all about developing the pocketbooks of campaign donors and leaving working class and poor New Yorkers behind, cutting out small businesses, favoring cronies, leaving communities struggling for resources.
The dozen donors gave a combined $3.4 billion to national candidates and causes.
Despite the mixed impact that big-money groups have had on the presidential contest so far the biggest surge of cash is likely to come this fall, when millionaires and billionaires aligned with both parties fully engage in the fights for control of the White House and Congress.
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