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‘A kingmaker in conservative big money politics’: This electronics mogul made the ‘biggest’ GOP donation ever
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‘A kingmaker in conservative big money politics’: This electronics mogul made the ‘biggest’ GOP donation ever
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The Republican Party has had its share of ultra-wealthy donors. But according to New York Times reporters Kenneth P. Vogel and Shane Goldmacher, the most generous GOP donation of 2021 came from “electronics manufacturing mogul” Barre Seid.
In 2021, Vogel and Goldmacher report, Seid donated a whopping $1.6 billion dollars to a group led by Republican activist and Federalist Society Co-Chairman Leonard A. Leo.
“This windfall will help cement Mr. Leo’s status as a kingmaker in conservative big money politics,” Vogel and Goldmacher report in a Times article published on August 22. “It could also give conservatives an advantage in a type of difficult-to-trace spending that shapes elections and political fights. The cash infusion was arranged through an unusual series of transactions that appear to have avoided tax liabilities. It originated with Mr. Seid, a long-time conservative donor who made a fortune as the chairman and chief executive of an electrical device manufacturing company in Chicago now known as Tripp Lite.”
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The reporters add, “The nonprofit, called the Marble Freedom Trust, then received all of the proceeds from the sale, in a transaction that appears to have been structured to allow the nonprofit group and Mr. Seid to avoid paying taxes on the proceeds.”
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