Right to Rise, the super-PAC backing former Florida governor Jeb Bush, reported raising over $100 million in the first six months of this year.
According to the super-PAC’s fundraising summary of June 30, released Thursday, over $103 million dollars has been raised, of which more than $98 million counts as cash on hand.
Strikingly, however, the statement states that the money was raised by just 9,900 donors - and 9,400 of them donated $25,000 and below.
Quaking in their boots, Mother Jones, the staunchly liberal and strongly left-leaning U.S. magazine, reported that the haul is a record for a super-PAC and “more than almost every presidential candidate has ever raised for their primary campaigns.”
Adding to Right to Rise’s immense total, the official Bush campaign has raised $11.4 million in its first 16 days - and, to put Bush’s campaign numbers in context, the magazine continues, Mitt Romney’s “entire primary effort in 2008 cost $107 million; Hillary Clinton’s cost $245.7 million.”
In contrast, Donald Trump, who is also running for the GOP presidential nomination, has asserted that he is paying for his campaign out of his own pocket.
“I’m using my own money. I’m not using the lobbyists. I’m not using donors. I don’t care. I’m really rich,” the billionaire real estate mogul and reality TV personality said in his announcement speech.
Despite Trump’s confident assertion - one he can surely back up given his estimated net worth of $4.1 billion, according to Forbes - his campaign has attracted two super-PACs: Citizens for Restoring USA, which was filed in April, and Make America Great Again, which was commissioned on June 30.
Under federal U.S. law, an individual donor is restricted to contributing more than $5,400 to a candidate’s presidential run - $2,700 for a party primary and $2,700 for the general election, according to the New York Post.
But, as long as it doesn’t coordinate with a campaign, an independent super-PAC can acquire and dedicate millions of dollars in spending to boost or oppose candidates of its choosing.