After The Capitol Riots This Company Closed Its PAC. But Its Billionaire Founder Is Still Spending Big

  • 📰 Forbes
  • ⏱ Reading Time:
  • 65 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

After the Capitol riots, this company closed its PAC. But its billionaire founder is still spending big

Charles Schwab, billionaire chairman of The Charles Schwab Corporation, with his wife Helen, donated at least $780,000 to federal political committees between January and March this year.Corporate America took the days following the Jan. 6 riot at the U.S. Capitol to reflect on its role in politics, with many firms rethinking their positions on making political donations.

Some of the beneficiaries were lawmakers who refused to certify the election results. In March, Schwab donated $266,300 to the McCarthy Victory Fund, a joint-fundraising committee that supports House Minority Leader Kevin McCarthy of California, one ofwho voted against certifying Biden’s victory. That was the largest single contribution made to McCarthy’s PAC during the first three months of 2021.

Schwab also donated $255,500 to the National Republican Senatorial Committee, a group chaired by Senator Rick Scott of Florida, one of eight senators to vote against certifying the election results. And his wife Helen gave $266,300 to a committee supporting Republican representatives in the House, including at least two dozen lawmakers who voted against certifying President Biden’s win.

Even though those donations were inconsistent with the policies of the brokerage firm, where the tycoon made his, they were in line with Schwab’s previous personal giving. In 2019 and 2020, the mogul and his wife donated $21.2 million to federal candidates, committees and super-PACs supporting Republicans running for Congress—enough for Schwab to qualify as one of the“Every individual in our firm has a right to their own, individual political beliefs and we respect that right.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

After The Capitol Riots This Company Closed Its PAC. But Its Billionaire Founder Is Still Spending BigCharles Schwab, with his wife Helen, poured more than $780,000 into federal political committees supporting Republicans during the first three months of the year.
Source: Forbes - 🏆 394. / 53 Read more »

After The Capitol Riots This Company Closed Its PAC. But Its Billionaire Founder Is Still Spending BigCharles Schwab, with his wife Helen, poured more than $780,000 into federal political committees supporting Republicans during the first three months of the year.
Source: Forbes - 🏆 394. / 53 Read more »

After The Capitol Riots This Company Closed Its PAC. But Its Billionaire Founder Is Still Spending BigCharles Schwab, with his wife Helen, poured more than $780,000 into federal political committees supporting Republicans during the first three months of the year.
Source: Forbes - 🏆 394. / 53 Read more »