The newly released campaign financial records show that employees of large technology companies are the main source of donations for Joe Biden’s presidential campaign, surpassing donations from employees of traditional democratic fundraising sources such as banks and law firms.
Employees of Google’s parent company Alphabet Inc., Microsoft Corporation, Amazon.com Inc., Apple Inc. and Facebook Inc. are the five largest sources of funding for employers in the Biden campaign and the joint fundraising committee. “Wall Street Journal”
Records show that Biden’s presidential campaign received at least $15.1 million from employees of these five technology companies. Both companies declined to comment.
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Previous Democratic presidential candidates Hillary Clinton and Barack Obama also received large donations from employees of technology companies, but the main source of their employees’ donations is not limited to the technology sector.
According to election records collected by the non-partisan CIA, in 2016, Mrs. Clinton’s largest sources of funding from those who identified corporate employers included employees of personal injury law firms JPMorgan Chase and JPMorgan Chase, as well as Google, Microsoft and Apple. Responsive politics.
Four years ago, the main sources of donations from Mr. Obama’s employees included Microsoft and Google, as well as Deloitte, Time Warner (now part of AT&T Inc.) and the law firm DLA Piper.
Although companies are prohibited from directly campaigning, their employees are free to donate as individuals and generally provide a window into workers who are politically active enough to donate across different industries.
From company employees to the current Republican Party Donald Trump’s 2020 presidential campaign, the main sources of funding are employees of American Airlines, Boeing, Bank of America, Lockheed Martin and Wells Fargo. Respond to the analysis of the political center.
|AAL||American Airlines Group||18.68||+0.97||+ 5.48%|
|Business Advisory Committee||Bank of America Corporation||34.54||+0.35||+ 1.02%|
|World Football Federation||FuGuo bank||37.83||+0.87||+2.35%|
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Republicans assert that large technology companies are biased against this, including allegations that companies using online platforms such as Facebook and Google censor online content to support liberal views.
Doug Heyer, a former spokesperson for the Republican National Committee, said: “There is a disconnect between the technology industry and many Republicans.” “We don’t like Silicon Valley-they don’t like us either.”
In the past, Facebook, Google and other technology platforms denied that the politics of employees affected the way their business operated.
Some Democrats believe that these companies are already too large, and their platforms have allowed the spread of false political information, which has helped Trump.
Google, Facebook and Amazon have become targets of antitrust investigations, and Congress, with the support of both parties, may take measures to weaken their influence. Facebook CEO Mark Zuckerberg (Mark Zuckerberg), Twitter Inc. CEO Jack Dorsey (Jack Dorsey) and Alphabet CEO Sundar Pichai (Sundar Pichai) Ready to testify on the House panel next month.
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Mr. Biden has stated that he supports the abolition of the broad legal immunity that technology companies currently enjoy for information transmitted through their networks.
As the Biden administration settles down, technology companies are waiting for critical tasks from the heads of the Federal Trade Commission and the Department of Justice’s antitrust department. Advisors to the two companies said these appointments may determine the government’s aggressiveness in existing or new investigations.
The Wall Street Journal’s analysis is based on the latest data from the Federal Election Commission, which covers the 2020 election cycle of Biden’s campaign, two joint fundraising committees, and personal donations to these committees through the online donation platform ActBlue. The Wall Street Journal reviewed campaign financing data to compile a list of companies whose employees donated the most.
The analysis is based on a standardized version of self-reported employer information for each donation, and because some public records are incomplete or flawed, it should be treated as an estimate.
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Since the online donation platforms that itemized the smallest donations were not widely used in 2016 and 2012, the data from previous years only includes information about donors who donated more than $200 to a sport.
Approximately two-thirds of the money in the presidential election is donated to individual candidates, and these candidates may donate up to $2,800 to candidates who have run recently. Those who donate $200 or more must disclose the name of their employer.
Although companies are prohibited from donating to national candidates for public office, many companies still have political action committees or PACs. These committees are employee-funded accounts that companies use to donate to candidates they like. Relatively little money in the presidential election comes from corporate PACs. The union spends millions of dollars in each election to support Democratic candidates.
Tech employees donate to other political entities that elect Mr. Biden and other Democrats, including the future US forward PAC, which spent millions of dollars on the 2020 election.
According to the analysis of The Wall Street Journal, Biden’s campaign has earned $3.7 million in revenue from employees of the five largest Wall Street companies: Goldman Sachs, Citigroup, Bank of America, Wells Fargo and JP Morgan Chase. Records show that in previous elections, these companies were among the top Democratic presidential candidates.
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“Wall Street Journal” analysis shows that this is less than the total donation of Alphabet employees to Biden, which donated $5.3 million, making the technology company the largest source of funding.
Google employees were the largest source of donations for Mrs. Clinton’s 2016 campaign and the second largest source of funding for Obama’s 2012 campaign.
Amazon employees donated a total of $2.8 million for Biden’s campaign. In the Biden campaign, Amazon was the third largest source of funding for the company. Records show that for former Democratic candidates, the company is not the main source of campaign funding.
For a long time, Microsoft employees have been the main source of income for Democratic presidential candidates. Microsoft employees donated $3.2 million to Biden in the election.
Records show that Facebook employees have become the largest source of funding, donating $1.9 million to his campaign.
According to data analyzed by The Wall Street Journal, Biden’s other main sources of income are employees of Lowercase Capital, Oracle Corp., Netflix Inc., Saban Capital Group and Morgan & Morgan. Lowercase Capital is a venture capital firm and an early investor in Twitter, Uber Technologies Inc. and Instagram (now part of Facebook).
Chad Day’s contribution to this article.