A super-PAC that raised $ 16.9 million to oppose one of Republican Senator Kelly Loeffler’s challengers in Georgia’s Nov. 3 special election received nearly two-thirds of its money from the one of the senator’s very, very close allies: her husband.
Jeff Sprecher, who is the CEO of financial firm Intercontinental Exchange, contributed $ 10.5 million to a super-PAC called Georgia United Victory, making him the group’s largest individual donor between July and Election Day, according to files filed with the Federal Election Commission. Wednesday.
Forbes valued in July that Sprecher and Loeffler are worth at least $ 800 million based on Sprecher’s stake in Intercontinental Exchange, which is worth around $ 500 million, and after accounting for more than a decade of dividend payments and sales of ‘actions. Loeffler loaned his own campaign at least $ 23 million ahead of the November election.
Other notable Georgia United donors ahead of the election included hedge fund founder Citadel Ken griffin, who donated $ 3 million, Georgian billionaire Bernie marcus ($ 500,000) and finance mogul Ken fisher ($ 20,000), according to FEC documents.
Super PACs like Georgia United can raise unlimited money from anyone and advertise for or against a particular candidate, although they cannot coordinate their spending with campaigns. While the group spent nearly $ 15 million on ads opposing Loeffler’s challenger, Republican Rep. Doug Collins, ahead of the November special election, it now appears to be expanding its mission to support both Loeffler and his fellow Republican Senator from Georgia, David Perdue.
Other super-PACs, like the pro-GOP Senate Leadership Fund, are also spending a lot of money on the January runoff election, which will decide which party controls the US Senate.