Since Democrat President Joe Biden announced his 2020 presidential run, there have been persistent rumors of puppet masters behind the scenes influencing his decisions. This article delves into the financial backers who are funding Biden's agenda, shedding light on the wealthy donors who have a significant influence on the administration.
The Rise of Oligarchy: Biden's 2020 campaign was historic, becoming the first to raise over $1 billion. This impressive financial backing has empowered America's wealthy elite, who, in turn, have been empowered by Biden. It's important to note that this alliance between wealth and politics stands in stark contrast to the Democratic Party's earlier stance against money's influence in Washington D.C.
The Influence of Dark Money: In the 2020 election cycle, Democrats raised a staggering $600 million more in "dark money" than their Republican counterparts. These numbers are expected to surge even higher in the 2024 elections. This influx of undisclosed funds has raised concerns about transparency and the true power dynamics at play.
Meet Biden's Billionaire Cabinet:
- Dustin Moskovitz - The Rising Power Player: With a net worth of $11.6 billion, Dustin Moskovitz, a co-founder of Facebook, has distinguished himself as a major power broker on the institutional left. In the 2020 election cycle, he contributed roughly $50 million, with $20 million going to the Future Forward PAC, a key supporter of Biden. This PAC played a pivotal role in the 2020 and 2022 elections. Moskovitz's influence extends to tech policy, including artificial intelligence, making him a significant player in shaping future regulations.
- Eric Schmidt - The Google Veteran: Eric Schmidt, with a net worth of $26.2 billion, spent two decades heading Google and its holding company, Alphabet. Google has been a major contributor to Democratic causes, with $11 million donated during the 2020 cycle. Schmidt also gave $775,000 to the Future Forward PAC. After leaving Alphabet, he focused on his philanthropic foundation, Schmidt Futures, which raised ethical concerns due to its connections within the Biden administration.
- Jeffrey Katzenberg - The Hollywood Connector: Despite being linked to Hollywood's decline, Jeffrey Katzenberg has continued to support Biden. He hosted events raising millions of dollars for Biden's campaign in 2020 and pledged all the resources Biden needs for his 2024 reelection. His influence over Biden has raised concerns in Hollywood, particularly during labor strikes. Katzenberg's financial support and influence on Biden highlight the close ties between the political and entertainment worlds.
- Laurene Powell Jobs - The Media Mogul: Laurene Powell Jobs, with a net worth of $13.7 billion, plays a crucial role in Democrat politics and media through her Emerson Collective. She donates to various social justice causes, funds left-wing media, and provides jobs for Biden and Obama administration officials. Her close relationship with Vice President Kamala Harris has increased her influence in the Biden administration, allowing her to shape climate-related spending and other policy matters.
- Reid Hoffman - The Silicon Valley Connector: Reid Hoffman, a billionaire from his involvement in PayPal and LinkedIn, is a prolific funder of Democrats. He uses nonprofits and discreet contributions to support left-wing causes. Hoffman has connections to Facebook and frequently collaborates with the Chinese Communist Party, raising concerns about his ethical standards. His involvement in left-wing organizations and tech deals highlights the intertwining of technology and politics.
- Tom Steyer - The Climate Activist: Tom Steyer, a former hedge fund manager, spent $73 million on left-leaning causes during the 2020 election cycle. His role as an advisor to Biden on climate change is notable. However, his investments in the fossil fuel industry and close ties to the Biden administration's staff raise questions about his commitment to combatting climate change.
Conclusion: The influence of wealthy donors on the Biden administration raises concerns about transparency, ethics, and the true power dynamics within the Democratic party. As Biden's 2024 reelection campaign approaches, these influential figures and their financial backing will continue to shape American politics, leaving many to question who truly holds the reins of power.
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