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April 28, 2022
Elon Musk’s Twitter takeover adds to his corporate political influence and lobbying power
 
 

Billionaire Elon Musk bought Twitter on Monday for $44 billion, ending a weeks-long saga in which the platform’s board initially worked to fend off Musk’s takeover bid with a “poison pill” shareholder rights plan before unanimously approving his offer. 

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Top Pentagon contractors spend less on lobbying as demand for weapons to Ukraine rises


Lockheed Martin, Raytheon, Boeing, Northrop Grumman, and General Dynamics spent $16.9 million on lobbying in the first quarter of 2022.

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Redistricting makes Michigan a battleground state for both parties, raising millions in multiple races


Michigan representatives raise millions for their races as redistricting spurs incumbent face-offs and district switching.

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Billionaire Coachella-owner pours money into political contributions boosting Republicans


Coachella-owner Philip Anschutz and his wife have given more than $5 million in state and federal political contributions.

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Ohio’s Republican Senate primary attracts big money as tensions boil over ahead of Saturday Trump rally


On May 3, Ohio voters will choose a Republican candidate after an expensive, contentious U.S. Senate primary.

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OpenSecrets in the News

See our media citations from outlets around the nation this week:

 

Millionaire candidates pour cash into Ohio, Pa. Senate races (The Associated Press)
Sheila Krumholz, executive director of OpenSecrets, a research group that tracks campaign spending, said self-funding has become an increasingly appealing option for wealthy candidates because the lack of limits on personal giving allows them to “fight fire with fire” against deep-pocketed super PACs and dark money groups.

These members of Congress could personally benefit from Elon Musk's Twitter takeover (Business Insider)
Members of Congress routinely introduce and vote on legislation that affects the tech industry broadly and Twitter specifically. Twitter, for its part, has spent more than $1 million lobbying the federal government during each of the past four years, according to federal records compiled by nonpartisan research group OpenSecrets.

Pennsylvania’s GOP Senate primary draws backing from some of Wall Street’s biggest billionaires, making it one of the most expensive midterm races (CNBC)
Wall Street firms typically back candidates on both sides of the aisle. Goldman’s political action committee and its employees, for instance, donated a combined $1 million to Barack Obama’s campaign when he first ran for president in 2008, according to the Center for Responsive Politics. President Joe Biden saw more than $70 million from Wall Street in his run for the White House.

 
4 star rating for 9 consecutive years
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