US : Clinton Is Completely Annihilating Trump Among Wall Street Donors
Tue Aug 02 2016
Mark Cooper (1809 articles)

US : Clinton Is Completely Annihilating Trump Among Wall Street Donors

It’s no secret that Wall Street would pick Hillary Clinton over Donald Trump.

But never has that preference been seen more clearly than in the industry’s contributions to the presidential campaigns.

Finance industry companies and employees have given a total of $ 636.9 million during this election cycle, according to bipartisan group Center for Responsive Politics. Those donations went to federal candidates, political parties, and outside groups. What constitutes a company from within the finance industry is not entirely clear, though it does include insurance and real estate companies.

According to an analysis of those figures by the Wall Street Journal, Clinton’s top seven finance industry donors alone accounted for nearly $ 48.5 million of contributions to her campaign or groups working on her behalf.

Republican presidential nominee Donald Trump has collected just $ 19,000.

It’s a notable contrast since Wall Street increasingly began to use their money to back the Republican Party starting in around 2009. During the 2012 elections for example, Wall Street firms and individuals donated 79% of the industry’s total, about $ 36.7 million, to the right.

But the shift in preference isn’t because of the political parties, but rather Trump. In the 2016 election cycle, finance industry companies and employees still seem to show a preference for Republicans, who received 62% of the donations from the industry.

Granted, Trump only recently began calling for campaign contributions. The candidate has raised a total of $ 98.7 million from his campaign and from outside groups working on his behalf. Clinton has raised $ 374.6 million.

Clinton’s two largest donors are Saban Capital Group, and quant hedge fund Renaissance Technologies, who each gave $ 10 million to the candidate.

Clinton’s other top contributors from the financial industry include Pritzker Group, Soros Fund Management, Paloma Partners, and BLS Investments.

Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.

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