A nominally Republican group continues to get the majority of its funding from progressive donors.
On April 15, the Republican Accountability PAC filed its quarterly statement with the Federal Election Commission.
Those messages will feature former Republican voters who no longer support former President Donald Trump.
The Epoch Times previously reported that the group is primarily bankrolled by Democratic Party megadonors and led by so-called “Never Trump” Republicans.
According to the April quarterly filing, the PAC had about $12 million in cash on hand at the end of March.
In the first quarter of 2024, it raised about $6.4 million and spent $721,000. It also reported about $237,000 in debts.
The new disclosure statements show that Mr. Hoffman and Mr. Klarman, who had already donated $5 million to the PAC, contributed another $4 million to the group in the first quarter.
Another donor joined them, Ms. Mandel, who donated $1 million to the cause.
Reid Hoffman
Mr. Hoffman is a prolific Democratic Party donor. New disclosures show that in March he sent $6 million to a hybrid PAC, FF PAC, supporting President Biden’s reelection effort.He gave $2 million to the Republican Accountability PAC in January.
The founder of LinkedIn Corp., now a partner at venture capital firm Greylock Partners, Mr. Hoffman spent more money on progressive causes in 2024 than any other supporter.
Seth Klarman
Mr. Klarman, CEO and portfolio manager at hedge fund The Baupost Group, gave $2 million to the Republican Accountability PAC in February.He is a consistent Democratic Party donor who regularly gives more than $1 million in gifts to Democrat causes and PACs.
Susan Mandel
Ms. Mandel, who is a co-founder of Moms Clean Air Force, a director of the ZOOM Foundation, and a trustee of the Environmental Defense Fund, gave $1 million to the PAC in January.She is the wife of Stephen Mandel, founder of the investment firm Lone Pine Capital.
Gordon Gund
Mr. Gund, an heir to the Gund family fortune, is a former co-owner of the National Hockey League’s San Jose Sharks and principal owner of the National Basketball Association’s Cleveland Cavaliers.He is currently the CEO of Gund Investment Co.
In January, Mr. Gund sent $750,000 to the Republican Accountability PAC.
He sent $900,000 to the Republican Accountability PAC in 2022, according to donor records maintained by OpenSecrets.
Mr. Gund has given significant, though not million-dollar, gifts to both Republican and Democrat groups in the past decade.
