A billionaire hedge fund couple is dumping millions into a high-stakes effort to push the Democratic Party away from its increasingly radical left flank and challenge its entrenched leadership.
Steve and Sue Mandel, wealthy Democrat donors from Greenwich, Connecticut, have committed at least $20 million to a network of political groups aimed at elevating more moderate candidates, according to a new report from The Wall Street Journal.
Hedge-fund billionaires Sue and Steve Mandel. (via WSJ)Their operation includes at least three organizations designed to confront the party's existing power structure and potentially reshape Democratic politics ahead of the 2028 presidential election. At the center is Majority Democrats, which is working to boost candidates who can appeal beyond the party's progressive base.
Another group, The Bench, focuses on identifying and backing rising political talent, while the Searchlight Institute is crafting more centrist policy ideas in hopes of making Democrats competitive again nationally.
The couple is taking an unusually hands-on role, closely tracking campaigns and working with Seth London, a seasoned Democrat consulanted who served a stint in the Obama White House as Legislative Assistant and Associate Director. The billionaire couple's effort has already drawn additional funding from political and media power players, including former New York City Mayor Michael Bloomberg and James Murdoch, according to the READ MORE AT SOURCE »
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