From Fox News · Robert Schmad · · 1m 20s
A PayPal investor bets $40M against socialists
Scott Banister is dropping $40 million into state legislative races to slow the Democratic Socialists of America.
In brief
Scott Banister is dropping $40 million into state legislative races to slow the Democratic Socialists of America. The fight over socialism in American politics is moving down-ballot, where $40 million goes a very long way. Originally reported by Fox News.
A $40 million check lands
Scott Banister, an early investor in PayPal, Uber and SpaceX, gave $40 million to Make Liberty Win, a right-of-center group focused on state-level races.
Nine states, then a dozen
Money is already moving in Wisconsin, Michigan, Minnesota, Pennsylvania, Georgia, Arizona, New Hampshire, West Virginia and Montana, with plans to reach at least twelve states.
Mamdani is the flashpoint
The group's own press release names New York City Mayor Zohran Mamdani as proof that self-described socialists are winning inside the Democratic Party.
“Self-described socialists are running for office and winning in the Democratic Party”
Two million doors
Rather than cutting checks to candidates, Make Liberty Win mobilizes student and youth activists to knock doors and run phone banks. The target is two million voters.
“mobilizing student and youth activists to knock on the doors of more than two million voters”
Closing a three-to-one gap
The Republican State Leadership Committee projected in August that Democrats would outspend Republicans three to one in state races. Democrats dispute that they are better funded.
Huge money, small races
The average U.S. House candidate spent $1.8 million in 2024, and state races cost less than federal ones. Organizers call $40 million a floor, not a ceiling.
The headline
The fight over socialism in American politics is moving down-ballot, where $40 million goes a very long way.
