Biden Powered By $145 Million in 'Dark Money'
Where is Biden's money coming from? Don't ask. Really, don't.
Joe Biden had spent the entire election hiding the names of his bundlers, the big money fundraisers who fueled his campaign, until releasing them right before Election Day.
The Biden Inaugural Committee listed all the donors, but without any of the dollar amounts. The Biden Institute and the Biden Center won't disclose their donors.
The Biden Institute, a policy research center founded by Joe Biden at the University of Delaware, has no plans to disclose its donors after the president-elect takes office, Politico reported on Monday.
The Biden Institute, which had many of Biden’s incoming administration staffers on its payroll, is part of a network of foundations and policy centers that he established after his vice presidency.
The institute is currently in the middle of a large fundraising push to raise $20 million that is expected to continue well into Biden’s presidency.
And then there's the $145 million dark money machine.
Biden’s winning campaign was backed by $145 million in so-called dark money donations, a type of fundraising Democrats have decried for years. Those fundraising streams augmented Biden’s $1.5 billion haul, in itself a record for a challenger to an incumbent president.
Overall, Democrats in this election cycle benefited from $326 million in dark money, according to the Center for Responsive Politics. That was more than twice the $148 million that supported Republican groups.
The oligarchy has deep pockets.
Future Forward PAC, a super-PAC that spent $104 million backing Biden, got $46.9 million from Facebook Inc. co-founder Dustin Moskovitz, $3 million from Twilio Inc. Chief Executive Officer Jeff Lawson and $2.6 million from Eric Schmidt of Alphabet Inc, the parent company of Google. But its biggest source of funds was its sister nonprofit, Future Forward USA Action, which contributed $61 million. The names of those who put up the $61 million don’t have to be disclosed.
It's really surprising that a corrupt industry coming under regulation from the Trump administration put a whole lot of money into ousting it, and censoring and deplatforming him.