The latest campaign financing reports for California’s Proposition 50 campaign show $50.4 million raised to support the ballot measure and $44.3 million raised in opposition to the congressional redistricting plan.
Most of the money raised both for and against today’s ballot measure came from fewer than 20 total contributors, according to lists compiled by the state’s Fair Political Practices Commission.
The latest reporting date to the California Secretary of State before the election was Oct. 23.
The top 10 contributors to Yes on 50, Governor Newsom’s Ballot Measure Committee totaled 95% of the campaign’s money.
Topping the list were two national political action committees, the House Majority Political Action Committee for Prop 50, $16.4 million, and the Fund for Policy Reform, $10 million.
Three of the biggest state labor unions were among the biggest contributors to the pro-Prop 50 campaign, according to a summary prepared by the Fair Political Practices Commission: the California Teachers Association, $3.9 million; the California Nurses Association, $3.3 million; the National Education Association (teachers), $3 million, and the United Brotherhood of Carpenters, $2 million. A political action committee of the Consumer Attorneys of California also contributed $2 million.
Funds remaining from the governor’s 2022 campaign contributed $2.6 million, and renowned Welsh billionaire venture capitalist Michael Moritz pitched in $2.5 million. Prominent billionaire philanthropist and Cargill heiress Gwendolyn Sontheim contributed $2 million.
Former Google CEO Eric Schmidt and his wife Wendy Schmidt each contributed $500,000 to the pro-Prop 50 campaign.
Nearly 75% of the money raised to defeat the redistricting plan was contributed by wealthy atomic physicist Charles Munger Jr., who had donated $32.8 million as of Oct. 23.
After Munger, the next top eight contributors pitched in nearly $9.5 million to the anti-Prop 50 campaign.
The Republican Party’s Congressional Leadership Fund contributed $5 million to the anti-Prop 50 campaign, and the campaigns of three congressional campaign PACs also contributed: $1 million from former House Speaker Kevin McCarthy, $300,000 from Ohio Rep. Jim Jorden and $276,000 from California Rep. Ken Calvert.
A leading independent donor for the passage of Prop 50 was Tom Steyer, who is reported to have spent more $12.8 million, CalMatters reported. Steyer, a former hedge fund manager and climate advocate, paid for a statewide advertising campaign encouraging voters to vote yes on Prop. 50. In the commercial, which started airing earlier this fall, Trump is portrayed by an actor, who appears to throw food at the TV screen as he yells during the announcement of the Prop. 50 results.
