The 2018 election in Colorado is a high-stakes affair that is expected to break spending records and feature a hefty list of mega-donors from across the nation.
The total poured into elections tracked by the state through May 2 neared $56 million, according to a Denver Post analysis of campaign finance records from 2017 and 2018.
The bulk of the big money targets the open governor’s race, where four of the 10 top donors are aligned with Democratic candidate Mike Johnston and promote charter schools. Three of the other top donors are oil and gas companies.
The influx of campaign cash this cycle is attributed to the most contested governor’s race in decades, a prevalence of super PAC-like committees without contribution limits and rich candidates willing to spend big on their own races.
How much is ultimately spent, however, is much harder to discern. A nebulous network of political nonprofit organizations will inject millions in the election, but the law doesn’t require many of them to disclose their donors or spending in a timely fashion, if ever.
Here’s a look at the top 10 public donors in the 2018 election cycle so far – and which candidates they want to elect in the June primary and November general election.
1. Jared Polis – $6.4 million
The top donor so far this election cycle is a candidate. Polis, a five-term Boulder congressman, is seeking the Democratic nomination for governor and self-financing his bid. The campaign capped donations from supporters at $100 and declined to take political action committee money. (His congressional leadership committee, however, has accepted PAC money. But it can’t be used to help his gubernatorial campaign.)
Polis has declined to say how much he would put into the race, but he appears willing to spend whatever it takes. He wrote a $2.2 million check to his campaign on March 7, the day after he lost the caucus vote to rival Cary Kennedy, and another $750,000 on April 16, immediately after Kennedy bested him at the state assembly, where the two candidates qualified for the ballot.
2. Anadarko Petroleum Corp. – $2.5 million
The embattled oil and gas company donated the vast majority of its political money to Protecting Colorado’s Environment, Economy and Energy Independence.The issue committee —better known as Protect Colorado — focuses on local ballot initiatives, supporting energy development and opposing efforts to limit drilling.
Colorado’s largest energy driller is facing increasing criticism from six former high-ranking employees and a former contractor who say the company prioritized profits over safety ahead of a fatal home explosion in Firestone in April 2017 caused by its pipeline.
The second-largest benefactor is the Senate Majority Fund, which received $25,000. The committee is dedicated to electing a Republican majority in the state Senate.
3. Education Reform Now Advocacy – $1.1 million
The New York-based political nonprofit supports the expansion of charter schools and merit pay linked to student test scores.
The so-called doesn’t disclose its donors and funnels money to its Colorado sister organization, . The latter sits at the center of a , which accused the reform movement of supporting privatization, in part because of its efforts to push back against teacher unions.
The majority of Education Reform Now Advocacy’s spending in the state goes to Raising Colorado, which collected $975,000 in the past two years, and supported candidates for the Denver school board. The majority of Education Reform Now Advocacy’s spending in the state goes to Raising Colorado, which collected $975,000 in the past two years, and supported candidates for the Denver school board.
Raising Colorado is not participating in the gubernatorial primary races. However, a separate but once-related group called Students For Education Reform Action Network is supporting Johnston, a former state senator and school principal.
4 (tie). Michael Bloomberg – $1 million
The billionaire and former New York City mayor contributed $1 million to Frontier Fairness, an independent political committee akin to a super PAC that supports Johnston in the governor’s race. (Johnston’s campaign slogan is “Frontier Fairness,” but he is not allowed to coordinate with the group.)
The $1 million check is the largest single donation this cycle insupportof a candidate and helped Frontier Fairness top $3.8 million in donations to date, with $1.8 million in the bank through May 2. Bloomberg is an education reform advocate and one of the leading donors to the school-choice movement as a champion of charter schools, according to .
Before now, Bloomberg contributed only $514,000 to state-level races in Colorado, according to state records, his biggest prior investment coming in 2013 to oppose the recall elections of two state senators who supported tougher regulations on firearms.
4 (tie). Reid Hoffman – $1 million
The LinkedIn co-founder and venture capital investor supports Johnston in the governor’s race and, like other big donors, supports an expansion of charter schools.
Hoffman, who lives in California’s Silicon Valley, made two donations totaling $1 million to the Frontier Fairness PACthis cycle. He visited the state in March , the first time he traveled to a political event, he said.
He donated $1 million to help re-elect President Barack Obama and credits as the impetus for his more active role in politics.
4 (tie). Sue and Stephen Mandel – $1 million
The billionaire Greenwich, Conn., couple each contributed $500,000 to support the Frontier Fairness PAC.
Stephen Mandel is the managing director of Lone Pine Capital, a hedge fund he founded in 1997 that manages $25 billion in assets, . The Mandels are major Democratic donors, and their philanthropic giving is and like-minded advocacy groups.
The Mandels’ Zoom Foundation for paying for three fellows to work in the Connecticut governor’s office after helping to elect a Democrat to the post.
7. Walker Stapleton – $499,000
The Republican candidate for governor and two-term state treasurer raised $1.4 million through the latest public reports, and a third of it came from his own pocket.
Stapleton is spending most of the $830,000 in his bank account on a new television commercial in which he aligns himself with Trump. That stance comes despite hisearlier unwillingness to say whether he would accept the presidentap endorsement.
The Bush family relative also is supported by an independent super PAC, Better Colorado Now, which raised $880,000 and had $400,000 on hand to start the month.
8. PDC Energy – $424,000
Like Anadarko, the oil and gas driller and its related political action committee directed most of its money to Protect Colorado.
Denver-based PDC Energy is one of the largest oil and gas companies on the Front Range and announced plans to invest $480 million in Colorado operations in 2018.
The company also contributed more than $25,000 to help elect Republican candidates to the state legislature.
9. Liberty Oilfield Services – $359,000
Liberty Oilfield Services aligns with the other two energy companies on the list in donating most of its money – $356,000 – to Protect Colorado.
The collective investments suggest the industry is poised to spend big in 2018 to fight a potential ballot initiative on gas drilling, as well as push their issues in other races. From 2012 to 2016, the industry spent $80 million on political efforts, much of it through Protect Colorado.
Liberty’s CEO Chris Wright also is a top donor to the Koch brothers political network.
10. Noel Ginsburg – $345,000
The wealthy entrepreneur put significant sums into his bid for the Democratic nomination for governor but didn’t get traction. Heexited the race in March after saying he didn’t have the money to win, and he declined to endorse a rival. Ginsburg also repaid himself for a $100,000 campaign loan in 2017.
UpdatedMay 21, 2018, at 2:30 p.m.Thefollowingcorrectedinformationhasbeenadded to this article: Because of a reporting error, the story incorrectly described Raising Colorado’s role in the primary election. The organization is not backing a candidate. However, a separate organization, Students for Education Reform Action Network, is supporting Johnston.
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