Democrats discovered billionaires in politics were a threat to democracy the exact day one stopped writing them checks.
When Michael Bloomberg spent around $1 billion of his own money in the 2020 primary, then another $100M to help Biden in Florida, nobody called it an attack on democracy.
When George Soros put $125M into a single Democratic super PAC and became the largest political donor of the 2022 cycle, it was "civic engagement."
When Reid Hoffman, Dustin Moskovitz, JB Pritzker and Tom Steyer wrote eight- and nine-figure checks cycle after cycle, it was "saving democracy." When Bill Gates reportedly gave around $50M to a pro-Harris group in 2024, silence.
In 2020, dark money groups spent over $500M backing Democrats, more than double what went to Republicans. In 2024, Kamala Harris raised more than $1 billion in under three months. Democrats outspent Republicans and lost.
So the problem was never billionaires in politics. The problem is a billionaire who doesn't fund your side.
And here's what nobody in DC wants to say out loud: old billionaire money is quiet money. It funds the foundations, NGOs, think tanks and consultants that make up the permanent establishment. It doesn't challenge the system. It is the system. It freezes the picture: same insiders, same incumbents, same experts, every single cycle.
You can like or hate Musk's spending, but at least it's out in the open. If you really want money out of politics, start with your own party's donor list.
Maura Healey once took credit for stopping gas pipelines.
Now she’s asking the Trump administration for MORE natural gas, and she wants it fast. – @WSJ
What changed her mind?