Wealthy people pump cash into elections. To know how they vote and/or who their preferred candidate(s) may be is quite simply a matter of following the money. This is showcased by New York’s mayoral vote that has been overwhelmed by billionaire donors. This article by Dana Rubinstein, Jonah E. Bromwich and Katie Glueck is published by The New York Times
More than seven years after one of the nation’s wealthiest men stepped down as New York City’s mayor and was replaced by a successor who shunned the rich, billionaires have re-emerged as a potent force in the mayor’s race.
Together, billionaires have spent more than $16 million this year on super PACs that are primarily focused on the mayoral primary campaign that ends on Tuesday — the first mayoral election in the city’s history to feature such loosely regulated organizations devoted to individual candidates.
Overall, super PAC spending in the mayor’s race has exceeded $24 million, according to the New York City Campaign Finance Board, making up roughly 30 percent of the $79 million spent on the campaign.
Continue reading here.