The Republican presidential candidates are collecting billionaires like squirrels hoarding nuts for winter. And this cache of cash may keep at least several campaigns politically viable until the Texas GOP presidential primary next March.
The money primary usually is the great winnower of presidential hopefuls. Candidates who come out of Iowa, New Hampshire and South Carolina underfunded simply do not have the money for the stretch run and frequently drop out before Texans vote in March. The advent of super Pacs in 2012 started changing that, with candidates spending a combined $10 million on television ads ahead of the Iowa caucus alone. Rick Perry spent $2.86 million on Iowa television advertising.
With the prospect that winning the nomination in 2016 could cost as much as $100 million apiece, the race is on for candidates to win over the billionaires—or as Molly Ivins would have called them, the oligarchs. White House hopefuls like Ted Cruz and Rick Perry are turning to people whose disposable income runs into the millions of dollars.
The billionaire buzz caught fire today with reports that the Koch brothers, Charles and David, were leaning to throwing their financial might behind Wisconsin Governor Scott Walker. After listening to Walker speak at an exclusive New York gathering Monday, David Koch declared that Walker could defeat Democrat Hillary Rodham Clinton in a general election, and Koch called Walker a “tremendous candidate.” In a statement later Monday, Koch denied that he was endorsing any candidate for president. The Kochs have said they plan to spend $889 million during the 2016 election cycle to promote candidates and their small-government philosophy. If they jump into the GOP nominating process, they could be a game-changer for the candidate they back. Though their fortune comes from Kansas-based Koch Industries, the brothers own refineries, pipelines and chemical technology operations in Texas, as well as Georgia-Pacific and the Matador Cattle Company, which covers 130,000 acres in the Caprock area.