Wall Street pumped money into the most expensive House election ever – Business Insider

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paul singer frownPaul Singer, the billionaire founder of hedge fund firm Elliott Management. A spokesperson declined to say whether Singer had donated to the Georgia election, but data from the Center for Responsive Politics show that affiliates of the firm did. Steve Marcus/Reuters

Wall Streeters pumped money into the US’ most expensive ever House race, with most of the money going to the Republican candidate.

The election, on Tuesday, June 20, in Georgia’s 6th District, an Atlanta suburb, is set to replace the House seat of Tom Price, who recently left to become the new health and human services secretary.

The race, between Democrat Jon Ossoff and Republican Karen Handel, has raised at least $56.7 million, according to the Center For Responsive Politics, which tracks money in politics. That staggering figure is nearly double the second-most expensive House election in Florida in 2012, the group says.

The Georgia election is considered a referendum on Donald Trump’s win in November last year.

There are a number of donors affiliated with Wall Street names, including individuals affiliated with hedge fund firm Elliott Management, Wells Fargo and KPMG, who all donated to the Republican candidate.

Here’s a sampling from a more detailed list, per the Center for Responsive Politics. CRP notes that “the organizations themselves did not donate, rather the money came from the organizations’ PACs, their individual members or employees or owners, and those individuals’ immediate families.”

These numbers may increase as CRP processes more data from donor filings in the coming week, and it’s possible that some Wall Street donors haven’t yet shown up in CRP’s analysis, the group told Business Insider. Still, the data sheds light on who has put money into the race.

Karen Handel (R)

  • New York hedge fund firm Elliott Management – $2,700 
  • PricewaterhouseCoopers – $5,000
  • KPMG – $5,000
  • Wells Fargo – $2,950
  • Charles Schwab Group – $2,700
  • Arcus Capital Partners – $5,400

Jonathan Ossoff (D)

  • Sol Goldman Investments – $5,400
  • New World Capital – $5,400

Ossoff’s biggest donation – a tally of about $32,000 so far – came from people related to Emory University. Handel’s biggest donors came from people affiliated with Cooper Firm, Hennessy Automotive, Northwest Excavating and Rollins Inc. They all tied with donations of $10,800 each.