The Huge Amounts CEOs Are Spending on Midterms

Top brass at many S&P 500 companies have contributed millions.

In less than a week, Americans will cast their votes in what’s poised to be the most expensive midterm election in history, according to a CNN report. Not only is the money behind the election coming from political action committees and brands like Walmart, Disney and Target, but also from wealthy individuals, including S&P 500 CEOs.

Millions of dollars are being poured into the election by the top brass at major companies, according to data released by MarketWatch. Companies whose CEOs have contributed include Netflix, Twenty-First Century Fox and Amgen, with the top contributor — by far — being Amazon’s Jeff Bezos, who has contributed over $10 million.

CEOs Spending the Most on Midterms

Jeff Bezos’ contribution is by far the biggest, with all other CEO contributions remaining in the six-figure range. Here’s a look at the top S&P 500 CEO contributors so far:

Jeff BezosAmazon$10.16 million
John HessHess Corporation$877,600
Stephen Alan WynnWynn Resorts Unlimited$797,468
Reed Hastings Jr.Netflix$571,600
James Rupert MurdochTwenty-First Century Fox$506,667
Stephen LuczoSeagate Technology$469,825
Steven RothVornado Realty Trust$444,900
Leslie WexnerL Brands$359,700
Timothy WentworthExpress Scripts Holdings$262,594
Robert BradwayAmgen$246,356
Christopher CraneExelon Corporation$214,661
Marc BenioffSalesforce$202,233
Kenneth FrazierMerck & Co.$196,962
Mark AllesCelgene Corporation$195,683
Daniel AmosAflac Incorporated$187,019
Ian ReadPfizer$181,833
Joel MarcusAlexandria Real Estate Equities$175,400
Safra CatzOracle Corporation$173,433
Hock TanBroadcom$168,990
David ZaslavDiscovery$143,600

Other top contributors include Walt Disney’s Robert Iger, who contributed $111,800; Berkshire Hathaway’s Warren Buffett, who contributed $104,900; and Chevron Corporation’s John Watson, who contributed $99,825.

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Which Political Parties Are Getting the Most CEO Contributions

Interestingly, Bezos contributed the majority of his money to nonpartisan groups, with only about 0.11 percent of his contribution going to partisan groups; the $10,800 given to partisan groups was split evenly between the Democratic and Republican parties. The lion’s share of his contribution has gone to Honor Fund, a nonpartisan super PAC that backs candidates from both parties who are military veterans.

The next biggest contributor, Hess of the Hess Corporation, gave the majority of his contributions to the Republican party, as did Wynn of Wynn Resorts Unlimited. Netflix’s Hastings Jr., meanwhile, gave his entire contribution to the Democratic party. Twenty-First Century Fox’s Murdoch gave the majority of his contribution to nonpartisan groups, and gave 1.32 percent to the Democratic party.

Click to keep reading about stocks that are booming thanks to the midterm elections.

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