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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Leadership

Spending in the 2016 Presidential Election Has Already Hit $1 Billion

Claire Zillman
By
Claire Zillman
Claire Zillman
Editor, Leadership
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Claire Zillman
By
Claire Zillman
Claire Zillman
Editor, Leadership
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April 22, 2016, 6:03 AM ET
Democratic Presidential Candidates Debate In Milwaukee
Photograph by Win McNamee—Getty Images
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With more than six months left before the 2016 general election, spending in the ongoing race for the White House has already hit 10 digits.

A report from the Center for Public Integrity found that through March, presidential candidates and affiliated super PACs had spent $1 billion, according to a review of federal campaign finance filings.

The once-crowded and still heated Republican primary has accounted for nearly two-thirds of that sum, as more than a dozen contenders once sought the party’s nod. One of the three GOP candidates still in the race, Texas Senator Ted Cruz, has racked up the highest Republican spending total—a staggering $70 million.

 

Democratic White House hopefuls have also burned through a good amount of cash. Together, former Secretary of State Hillary Clinton and Vermont Senator Bernie Sanders have spent $326 million, with that sum split pretty evenly between the two campaigns. Sanders had raised $118 million through March 31 from thousands of donations of $200 or less. Those small-dollar donors account have helped keep him competitive with frontrunner Clinton by making up nearly two-thirds of his total yield. Overall, he’s raised $186 million, just $870,000 behind Clinton, who’s relied more heavily on bigger donors.

About the Author
Claire Zillman
By Claire ZillmanEditor, Leadership
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Claire Zillman is a senior editor at Fortune, overseeing leadership stories. 

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