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August 3, 2012

Self-funding: Is it really worth it?

    • 58 political candidates gave $500,000 or more to their own campaigns in 2010
    • 11 of those 58 actually ended up winning their elections (roughly $19%)
    • $130Mtotal amount of self-donations to 2012 campaigns—so far source

    » Not much bang for the buck: Tons of money is needed to get a political campaign off the ground, but that doesn’t mean being rich out of the gate is a sure-fire win for wannabe politicians. In 2010, wrestling magnate Linda McMahon spent $50 million on her own Senate campaign only to be crushed by Richard Blumenthal, who’d raised a (relatively) modest $8.7 million. More recently, Texas Lt. Gov. David Dewhurst lost the GOP primary after giving $24 million to his own war chest—the most so far of any candidate this cycle. But this doesn’t seem to be discouraging wealthy candidates: McMahon is running for the Senate again this year, and her $8.8 million contribution constitutes 90% of what she’s raised so far.

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    7:22 // 2 years ago