Montana Senator Jon Tester has expressed concern over the influx of out-of-state money supporting his opponent, Tim Sheehy, in the Senate race. Tester, a three-term Senator and farmer, faces a tough reelection battle in a state with deep-red partisanship. Sheehy, a businessman and former Navy SEAL, has attracted billionaire backers and support from former President Donald Trump, making Tester the most vulnerable Senate Democrat this election year.
A closer look at campaign finance records reveals the significant support Tester has received from billionaires and big money. Tester’s top ten billionaire backers have contributed to the Senate Majority PAC, a group that spends on or directs funds to Senate races nationwide. Tester also benefits from Last Best Place PAC, funded by Majority Forward, a “dark money” group that does not disclose its donors. Despite Sheehy’s conservative megadonors backing various groups, Tester remains well-supported by billionaires and big money in his reelection bid.
Majority Forward has been the sole funder of Tester’s biggest super PAC backer, Last Best Place PAC, contributing millions to support Tester’s campaign. While dark money is a bipartisan issue, Sheehy also has untraceable money backing him. Groups linked to Charles Koch and one called One Nation have supported Sheehy with significant amounts of money. Tester’s campaign emphasizes grassroots support, with the average donation being less than $50, contrasting with the substantial contributions from wealthy individuals.
Top donors supporting Tester’s re-election bid include members of the Forbes billionaires list who have contributed millions to groups backing him. Holocaust survivor and hedge fund manager, Henry Mandel, and hedge fund of hedge funds founder, James Simons, are among the top donors supporting Tester’s campaign. These billionaires have made significant contributions to Senate Majority PAC and other Democratic groups, showing strong support for Tester’s re-election bid.
Despite Tester’s strong support from billionaires and dark money groups, his opponent Tim Sheehy has significant financial backing from conservative megadonors and untraceable sources. As the election approaches, the race in Montana underscores the influence of money in politics and the deep divides in campaign finance. Both candidates are supported by powerful interests, highlighting the challenges faced by grassroots campaigns in the era of big money in politics.
Ultimately, the Senate race in Montana reflects the broader trends in campaign finance, with billionaires on both sides contributing substantial amounts to support their preferred candidates. Tester’s grassroots support contrasts with the significant contributions from wealthy individuals, creating a tense and competitive race in a deeply polarized state. As the election nears, the influence of money in politics continues to shape the outcome of races, underscoring the need for campaign finance reform to ensure fair and transparent elections.
