The Democratic Party of Wisconsin has raised nearly $57 million this election, and is showering its candidates with cash. The state Republican Party has raised only about $29 million. Meet the billionaires behind much of that haul.

By Peter Cameron, THE BADGER PROJECT

Do the number of political ads on your TV and mailbox seem to increase with each election? It’s not your imagination.

That’s due in part to a loophole in state campaign finance law that allows billionaires to give unlimited amounts of cash to political parties in Wisconsin, who can then turn around and donate unlimited amounts to their candidates.

The result is millions of dollars pouring into traditionally sleepy races for seats in the Wisconsin State Legislature. And ads upon ads.

The super-wealthy in state and out have gotten wise to this loophole and are engaging in an arms race, trying to one-up each other each election cycle.

But it hasn’t been an even match. The state Democratic Party has badly beaten its Republican counterparts in recent years, despite two heavy hitters at the top.

The Democratic Party of Wisconsin has raised nearly $57 million this election cycle compared to only about $29 million for the state GOP, according to campaign finance records filed with the state.

Prominent liberal donor Reid Hoffman, who co-founded LinkedIn and has an estimated net worth of $2.5 billion, has given the state Democratic Party nearly $8 million in the 2024 election cycle. Diane Hendricks, the co-founder of ABC Supply in the Beloit area with an estimated net worth of $22 billion, has given nearly $7 million to the state GOP this election cycle. Elizabeth Uihlein, co-founder of the packing supplies company ULINE, with an estimated net worth of $6 billion, has given the state GOP nearly $5 million. And Illinois Gov. J.B. Pritzker, an heir to the Hyatt Hotels fortune with an estimated net worth of $3.7 billion, has given the Democratic Party of Wisconsin more than $2 million this election cycle.

And these figures don’t include money these folks may be donating to independent groups that can run ads attacking or promoting candidates outside of an official campaign.

Before 2015, the total any single person, billionaire or not, could have given in annual political donations in Wisconsin was just $10,000.

But the 2014 U.S. Supreme Court decision McCutcheon v. FEC ruled that the $10,000 total limit in Wisconsin was an unconstitutional violation of 1st Amendment free speech rights. While Wisconsin campaign finance law had donation limits in place to candidates, it had none on parties, because the $10,000 cap had functioned as one. Once it was removed, the wealthiest political donors, and the political parties they could now give to unlimitedly, were unshackled.

Political parties also have no limits on how much they can give to candidates, so those ultra-wealthy donors can work with the political parties to bypass campaign finance limits and route huge sums of cash to candidates.

Democrats in the Republican-controlled legislature have proposed bills that would put caps on how much political parties can receive and give, but so far, the GOP majority has ignored them. So now Democrats are using the loophole left open by Republicans against them.

TOP DONORS TO WISCONSIN POLITICAL PARTIES IN THE 2024 ELECTION

Donor	From	Amount	Party
HOFFMAN, REID	MENLO PARK, CA	$7.65 mil	DEM
HENDRICKS, DIANE	AFTON, WI	$6.5 mil	GOP
UIHLEIN, ELIZABETH	LAKE BLUFF, IL	$4.825 mil	GOP
PRITZKER, JB	CHICAGO, IL	$2.25 mil	DEM
MUNGER, BARRY A	NEW YORK, NY	$2.19 mil	DEM
SOROS, GEORGE	NEW YORK, NY	$1.25 mil	DEM
DUDA, KENNETH JAMES	MENLO PARK, CA	$1 mil	DEM
SINGH, NINA	SAN FRANCISCO, CA	$1 mil	DEM
PAGE, GLORIA	LOS ALTOS, CA	$800k	DEM
SHANNON ZIMMERMAN CAMPAIGN CMTE	RIVER FALLS, WI	$790k	GOP
BOB DONOVAN CAMPAIGN CMTE	GREENFIELD, WI	$765k	GOP
HABUSH, ROBERT	WHITEFISH BAY, WI	$764k	DEM
JESSIE RODRIGUEZ CAMPAIGN CMTE	OAK CREEK, WI	$759k	GOP
HEISING, MARK	ATHERTON, CA	$704k	DEM
HARRIS SR, WILLIAM HAMILTON	LEXINGTON, MA	$600k	DEM
KAUFERT FOR ASSEMBLY	NEENAH, WI	$598k	GOP
PAT SNYDER CAMPAIGN CMTE	WAUSAU, WI	$590k	GOP
FRIENDS OF RYAN HUEBSCH	WEST SALEM, WI	$560k	GOP
KERN, DEBORAH S	FOX POINT, WI	$550k	DEM
FRANKLIN FOR WISCONSIN	DE PERE, WI	$549k	GOP
LIEBMAN, THOMAS	LAKE BARRINGTON, IL	$540k	DEM
BUCKLEY FOR ASSEMBLY	GREEN BAY, WI	$492k	GOP
KARP, DAVID	BROOKLYN, NY	$450k	DEM
UIHLEIN, LYNDE	MILWAUKEE, WI	$400k	DEM
SEIDENSTICKER, LAURA	LAKE FOREST, IL	$400k	GOP
CLINT MOSES FOR WISCONSIN	MENOMONIE, WI	$364k	GOP
TODD NOVAK CAMPAIGN CMTE	DODGEVILLE, WI	$330k	GOP
ROBIN VOS CAMPAIGN CMTE	BURLINGTON, WI	$323k	GOP
AMY BINSFELD FOR STATE ASSEMBLY	SHEBOYGAN, WI	$310k	GOP
HARRIS, WILLIAM	MIAMI BEACH, FL	$300k	DEM
CHRISTY FOR WI	DE PERE, WI	$267k	DEM
FRIENDS OF MICHELE SKINNER	ALTOONA, WI	$264k	GOP
HARRIS SR, WILLIAM HAMILTON	LEXINGTON, MA	$260k	DEM
LUANN BIRD FOR ASSEMBLY	HALES CORNERS, WI	$257k	DEM
PAGE FORWARD	RIVER FALLS, WI	$257k	DEM
EYCHANER, FRED	CHICAGO, IL	$250k	DEM
DELANEY, MARY ANN QUINN	OAKLAND, CA	$250k	DEM
SCHUSTERMAN, LYNN	TULSA, OK	$250k	DEM
GATES, RORY	REDMOND, WA	$250k	DEM
MEYER, GWENDOLYN SONTHEIM	MINNETONKA, MN	$250k	DEM
MESSINGER, ALIDA R	AFTON, MN	$250k	DEM
FRIEDMAN, GIDEON	BROOKLYN, NY	$250k	DEM
DEVIN LEMAHIEU CAMPAIGN CMTE	OOSTBURG, WI	$250k	GOP
REEVES, WILLIAM HUNTINGTON (BILL)	HONOLULU, HI	$240k	DEM
YEE FOR WI	WESTON, WI	$228k	DEM
LOREN OLDENBURG CAMPAIGN CMTE	VIROQUA, WI	$207k	GOP
MUNGER, PHILIP R	NEW YORK, NY	$200k	DEM
SHENKER, SCOTT	BERKELEY, CA	$200k	DEM
MICKLES, LINDSAY	PETALUMA, CA	$200k	DEM

The Badger Project is an independent, reader-supported news nonprofit in Wisconsin.