Tech Mogul Gives $1.6B To Dark Money GOP Group

August 22, 2022 Politics, Republicans

The New York Times reports:

A new conservative nonprofit group scored a $1.6 billion windfall last year via a little-known donor — an extraordinary sum that could give Republicans and their causes a huge financial boost ahead of the midterms, and for years to come. The source of the money was Barre Seid, an electronics manufacturing mogul, and the donation is among the largest — if not the largest — single contributions ever made to a politically focused nonprofit.

The beneficiary is a new political group controlled by Leonard A. Leo [photo], an activist who has used his connections to Republican donors and politicians to help engineer the conservative dominance of the Supreme Court and to finance battles over abortion rights, voting rules and climate change policy. This windfall will help cement Mr. Leo’s status as a kingmaker in conservative big money politics.

Pro Publica reports:

In practical terms, there are few limitations on how Leo’s new group, the Marble Freedom Trust, can spend the enormous donation. The structure of the donation allowed Seid to avoid as much as $400 million in taxes. Thus, he maximized the amount of money at Leo’s disposal.

Now, Leo, 56, is positioned to finance his already sprawling network with one of the largest pools of political capital in American history. Seid has left his legacy to Leo.

The Marble Freedom Trust is a so-called dark money group that is not required to publicly disclose its donors. It has wide latitude to spend directly on elections as well as on ideological projects such as funding issue-advocacy groups, think tanks, universities, religious institutions and organizing efforts.

Leo is the longtime co-chair of the Federalist Society and a confidant of Supreme Court Justice Clarence Thomas. The founder of the National Catholic Prayer Breakfast, Leo was also a key player in the nomination of Amy Coney Barrett.



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