Monday, January 25, 2016

Billionaire donors helped Cruz rise in GOP presidential bid

By JULIE BYKOWICZ, AP
Jan. 24, 2016 9:52 AM EST

WASHINGTON (AP) — Four of America's wealthiest businessmen laid the foundation for Ted Cruz's now-surging Republican presidential campaign and have redefined the role of political donors.

With just over a week until voters get their first say, the 45-year-old Texas senator known as a conservative warrior has been ascendant. The $36 million committed last year by these donor families is now going toward broadcast and online advertisements, direct mailings and get-out-the-vote efforts in early primary states.

The donors' super political action committees sponsored two weekend rallies in Iowa featuring Cruz and conservative personality Glenn Beck. The state holds the leadoff caucuses on Feb. 1.

The long-believing benefactors are New York hedge fund billionaire Robert Mercer, Texas natural gas billionaires Farris and Dan Wilks, and private-equity partner Toby Neugebauer. They honed their plan to help Cruz before he began his steady rise in polls — before he even announced his presidential bid in March.

(More here.)

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