Top UHNW Donors Give Less Than A Quarter Percent Of Their Net Worth To Super PACs
Republicans give greater percentage of wealth to political causes; Democrats devote larger percentage to philanthropy
5 September 2012, New York— Wealth-X, the global UHNW prospecting, intelligence and wealth due diligence firm, has revealed that top ultra high net worth donors give, on average, less than a quarter percent of their wealth to political causes. The following table compares the top five UHNW donors (measured in relation to their net worth) in 2012 to Republican Super PACs with donors associated with Democrat Super PACs.
REPUBLICAN TOP SUPER PAC DONORS
| Name | Net Worth (US$ million) | Political Donations as a % of Net Worth |
|---|---|---|
| Bobby Jack Perry | 520 | 2.2% |
| Rocco A. Ortenzio | 88 | 1.1% |
| Harlan Rogers Crow | 310 | 1.0% |
| Foster Friess | 520 | 0.5% |
| Jon Huntsman Sr. | 700 | 0.3% |
DEMOCRAT TOP SUPER PAC DONORS
| Name | Net Worth (US$ million) | Political Donations as a % of Net Worth |
|---|---|---|
| William Maher Jr. | 40 | 2.5% |
| Stephen M. Silberstein | 35 | .4% |
| Morgan Freeman | 95 | 1.1% |
| Barbara A. Stiefel | 120 | 0.9% |
| Frederick J. Eychaner | 500 | 0.6% |
According to Wealth-X research, UHNW donors associated with Republican causes donate an average of 4% of their wealth to philanthropic causes and less than 1% to political causes. In contrast, Democrat UHNW supporters donate, on average, over 5% of their wealth to philanthropic causes and less than half a percent to political causes. Entertainment industry UHNWIs continue to be major supporters of the Democrats.
“With all the attention on campaign financing and the influence of the ultra wealthy on candidates and campaigns, Wealth-X’s analysis shows varied approaches on the part of ultra wealthy donors,” said Mykolas D. Rambus, CEO of Wealth-X.
“While no one disputes that large amounts of money have gone into the 2012 campaign season, when the donations are compared to the net worth of the UHNWIs, they are minor,” Wealth-X President, David S. Friedman, noted.
For more information, please visit: www.wealthx.com
About Wealth-X
Wealth-X provides its members with qualified prospects and intelligence on ultra high net worth (UHNW) individuals, along with the privately held-companies they control. We work with 8 of the top 10 global private banks, leading educational institutions, not-for-profits and luxury brands. Our firm’s online business development solution profiles individuals who represent $10.7 trillion of the world’s net wealth. The Wealth-X database additionally offers exclusive details on ultra wealthy individuals, including their wealth, income, passions, philanthropic interests, affiliations, politics, advisors, families and biographies. Wealth-X is the global leader on UHNW individuals and the worldwide standard for professionals working with the ultra affluent. Headquartered in Singapore, the company has offices in Beirut, Budapest, Guangzhou, Hong Kong, Kuala Lumpur, London, Lugano, Madrid, Mumbai, New York and Sydney.
For Press Enquiries, please contact: press@wealthx.com