Looking at DeSantis’ megadonors
Governor has hauled in $102M for reelection bid
Gov. Ron DeSantis is amassing a staggering amount of cash for his reelection effort, making him a heavy favorite to win this year’s race for governor and cementing his status as a top Republican presidential prospect for 2024.
DeSantis has topped $100 million raised for the 2022 election, dwarfing the money raised by his three potential Democratic foes in Florida.
His campaign and political committee, both working for his reelection, have raised a combined $102 million through March, according to an Orlando Sentinel analysis of campaign finance records.
That sum is unheard of at this point in a Florida governor’s race, said Kevin Wagner, a political scientist at Florida Atlantic University.
“It is a staggeringly high amount,” he said. “Part of it has to do with his national profile. Part of it is he is very good at fundraising.”
DeSantis’ haul perhaps exceeds any other candidate running for governor in the United States, although such comparisons for state candidates are diffi
cult because of differing campaign finance laws.
Where the money is coming from
DeSantis has drawn from former President Donald Trump’s megadonor network, while also racking up smaller donations from people across the United States. The bulk of the money raised for DeSantis’ reelection effort has come through his Friends of Ron DeSantis political committee, which can accept unlimited contributions.
Evan Power, chairman of chairs for the Republican Party of Florida, attributed DeSantis’ fundraising success to his opposition to COVID19 restrictions, which sent his popularity soaring among conservatives.
“It obviously catapults him to the top tier of Republican leaders nationwide,” Power said of DeSantis’ fundraising performance. “I think it comes down to COVID. Florida is seen as a beacon of freedom. I have people from out of state who say how much they love our governor and wish their governor would be like ours.”
DeSantis has built his political brand through campaign merchandise that has spanned from “Don’t Fauci My Florida” drink koozies to an edgy golf ball set that proclaims “Florida’s governor has a pair.”
He’s also boosted his profile through fiery news conferences and Fox News appearances, making him a Republican foil to Democratic President Joe Biden. He’s extended his fundraising reach beyond Florida with events in California, Pennsylvania and other states.
DeSantis is leading the money race among governor candidates nationwide, according to OpenSecrets, a nonpartisan watchdog that tracks money in politics.
Texas Gov. Greg Abbott, another possible GOP presidential contender in 2024, is running close, having raised $93 million so far for his battle with Democratic candidate Beto O’Rourke, OpenSecrets reports.
DeSantis has secured backing from some of Trump’s top donors, including Home Depot co-founder Bernie Marcus; WeatherTech founder David MacNeil; and shipping supply magnates Dick and Liz Uihlein.
He’s picked up support among the nation’s wealthiest hedge fund managers and private equity bankers.
His top individual donor is Ken Griffin, founder and CEO of the Chicago-based investment firm Citadel LLC. Griffin cut DeSantis a $5 million check in April 2021.
Griffin hasn’t committed to backing DeSantis if he runs for president in 2024, although he said it was time for “America to move on” from Trump.
At an event in Chicago, Griffin praised DeSantis’ handling of the pandemic in its early days and his success in protecting the state’s economy. But he said he disagreed with DeSantis’ decision to block county-level mask mandates and his shift away from promoting vaccines.
“In this giant political mess he has made, he has lost the messaging point — and he has been really good on this — about the importance of vaccines,” Griffin said told the Economic Club of Chicago in October.
DeSantis has also found financial industry support from private equity billionaire, John W. Childs, and Hungarian-born business owner Thomas Peterffy, the richest person in Florida, according to Forbes.
Aside from megadonors,
DeSantis has raked in more than $1.4 million from people who donated $100 or less to his political committee. About 38% of contributors to his political committee listed an address outside Florida, according to the Sentinel’s analysis.
Notable Florida brands have chipped in too, including Disney, which has given $100,000 to DeSantis’ political committee with the most recent contribution in March 2021.
DeSantis and Disney have since clashed over what critics have called the “don’t say gay” law. Disney announced it is pausing its political contributions in Florida, while DeSantis has blasted the entertainment giant for what he calls “woke” stances on social issues.
DeSantis’ campaign did not respond to messages asking about fundraising and whether DeSantis will return Disney’s contributions.
Publix has given $150,000 to DeSantis’ reelection effort, while the Associated Industries of Florida and other pro-business groups have also given six-figure sums. DeSantis’ top contributor is the Republican Governors Association, which has provided more than $12 million.
DeSantis is not able to draw from his personal fortune like his predecessor Rick Scott. DeSantis reported a net worth of just over $348,800 in June. Scott, now a U.S. senator, spent about $73 million of his own money to boost his name recognition when he first ran for governor in 2010 and put another $12 million into his 2014 reelection campaign.