It’s certainly not news that super PACs, especially those favoring Republican causes, have raised lot of money from wealthy contributors during this election cycle. But as a share of their massive wealth, the totals for most big-dollar donors amount to a mere pittance.
A study released Wednesday by Wealth-X provides some perspective on the political contributions of ultrawealthy Americans. The top ultrahigh-net-worth donors give on average less than a quarter percent of their wealth to political causes.
Wealth-X found that major donors to Republican causes gave an average of 4% of their wealth to charity and less than 1% to political causes.
In contrast, their Democratic counterparts gave on average more than 5% of their wealth to philanthropic causes and less than half a percent to political ones.