Monday, 26 January 2015
Last updated 1 hour ago
Jun 5 2012 | 12:59pm ET
Deep pocketed donors have long played a role in national politics, but perhaps no group has become more influential in this election cycle than the financial titans known as asset managers.
In this series, Money Managers and their Donation Dollars, we take a close look at hedge fund managers, private equity executives and their less glamorous but equally powerful Wall Street counterparts to discover who is supporting Romney and who is backing Obama—why, and for how much.
David Shaw, D.E. Shaw Group
David E. Shaw is not only a hedge fund manager (D.E. Shaw Group), but he’s also a scientist—one who has served on the President’s Council of Advisors on Science and Technology for Presidents Clinton (1994) and Obama (2009).
These days, in fact, Shaw has ceded responsibility for the day-to-day operations of his hedge fund business as he focuses on his role as chief scientist of D. E. Shaw Research, where he leads an interdisciplinary research group in the field of computational biochemistry.
Shaw has made $223,450 in political donations since 1990, almost all to Democrats and Democratic organizations with the exception of $8,500 to the Managed Funds Association Super PAC. So far in the 2012 campaign, the Managed Funds Association has made contributions worth $76,500—33% of which went to Democrats, 67% to Republicans.
Shaw gave $30,800 to the DNC Services Corp in both 2012 and 2011, as did his wife, Beth Kobliner Shaw. Each gave $5,000 to Barack Obama in 2011. As a “bundler” for Obama in 2012, Shaw has delivered between $200,000 and $500,000 (bundler contributions are reported as ranges, not exact amounts) to the president’s re-election campaign.
The contributions of Shaw, his wife Beth and their dependents to all federal candidates, PACs and parties since 1990 total $1,181,648.
Money Managers And Their Donation Dollars
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…