Thursday, November 4, 2010
Money doesn't buy many wins for self-funded candidates
November 4, 2010
Wealthy future candidates, take note: It turns out that most of the time, money really can't buy you political happiness.
Tuesday's midterms featured an unusually large crop of moguls who sought to ease their way into power by pouring millions of their own dollars into their campaigns. In most cases, they failed spectacularly.
The most obvious - and jaw-dropping - example came in the California gubernatorial race, where Republican Meg Whitman spent $175 million of her eBay fortune to lose badly to former Democratic governor Jerry Brown. That works out to about $57 for each of the roughly 3 million votes she won.
As GOP consultant Alex Castellanos quipped on CNN: "I could have lost that race for only $80 million."
Posted by Yulie Foka at 2:28 AM