Ahead of 2020, Democratic billionaire donors bet on a young super PAC to win state races by DenizCam
. Shortly after, Hoffman joined the cause with a $1 million contribution; the Bonderman family gave a combined $937,500. Contributions have continued in 2019. In September, Henry Laufer and his wife Marsha donated $500,000 to the PAC.
“We were born really into a moment following Trump’s election, when not only Democrats had less power at the federal level, but actually had less power in the state [level] than they had at any other point in 60 years,” Hausman tellss. She says Forward Majority’s goal is to give Democrats a voice in the redistricting process and address gerrymandering.
“We went to people who were venture capitalists or were otherwise professional investors, and we shared with them our investment thesis,” Hausman says. “We treated this like an investment proposition where the return is impact.” Democratsspent over $1 billion on the 2018 midterm elections, but Forward Majority estimates that a successful campaign can be run for $500,000 to flip a competitive seat in a state legislature.
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