Sam Bankman-Fried Typified Democrat “Dark Money”

by | Nov 23, 2023 | Dark Money

For two decades, Democrats have pushed a convincing narrative that Republicans love corporate money, especially that dirty “dark money” which trades hands among corporate fatcats hiding behind closed doors.

The truth, however, is that big money props up Democrats across the country. President Joe Biden’s second-largest donation in 2020 came from Sam Bankman-Fried—SBF—the disheveled and mop-haired convicted felon who stole billions from investors and customers before his company’s collapse wiped out entire net worths of retail investors around the globe. And it was SBF’s Alameda Research—the same company where he embezzled billions in FTX customers’ funds—which contributed $5 million to Future Forward USA, a Democratic Party-supporting super PAC. Future Forward made more expenditures on behalf of Joe Biden than any other independent entity in 2020, and spent $141 million during the election cycle.

And that’s just from one left-wing corporate fatcat (well, former fatcat, now felon). The only donor who gave more to Biden than SBF was Wall Street billionaire Michael Bloomberg. Other top business Biden donors include Facebook co-founder Dustin Muscowitz, movie director Stephen Speilberg, and radical leftist George Soros.

Okay, so we’ve shown that Democrats actually love corporate money. But did you know that they received more dark money than Republicans in 2020, and leading the dark money brigade is Arabella Advisors, a strategic consulting company that the Atlantic calls “the Mothership” of Democrat dirty money? Arabella manages a network of nonprofits that spent $1.2 billion in support of Democrat candidates and liberal causes in 2020. However, none of the funds under Arabella’s umbrella disclose their donors. 

Read our groundbreaking report on the Arabella “dark money” empire here

One of these funds, the Sixteen Thirty Fund, spent over $410 million in 2020. According to Politico, just four donors accounted for over half the $390 million raised that year. It doesn’t take a degree from Wharton to realize these kinds of cash infusions don’t come from mom and pop donors. And those four whales don’t include the $17 million in grants from George Soros’ Open Society Foundations.

But what the Sixteen Thirty Fund supports leaves no doubt as to their agenda. Politico reports Sixteen Thirty’s dirty money was used to oppose President Trump’s Supreme Court nominations and spur major get-out-the-vote efforts during the COVID-19 pandemic. Tax filings also show millions distributed to far-left political activists including a $7.5 million donation to Future Forward USA.

Money is legal, and so is donating it openly or secretly to support candidates, campaigns, and causes. But Republicans need to go on the offense and remind voters that Democrats are (very rich) hypocrites. And they should lead with SBF, because it took years to prove the Russia collusion hoax… but what we have with SBF’s conviction is explicit proof that the Biden presidency was supported in a big way by fraudulent money.

It’s a connection Republican candidates need to make for the voters in 2024. 

Paul Revere is the pseudonym of a conservative writer

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