KA-CHING!

Mogul Donates Mind-Blowing $1.6 Billion to New Conservative Nonprofit

The massive cash injection could be a big boon to the GOP ahead of the midterms.

A staggering $1.6 billion was donated to a new conservative nonprofit group last year in what may be the largest cash gift ever to a politically focused organization. The huge donation—which was made by right-wing industrialist Barre Seid—was given to a group called the Marble Freedom Trust. The nonprofit is helmed by Leonard Leo, a conservative activist known for lobbying efforts on issues including abortion rights, climate change, and the political balance of the Supreme Court. The megabucks deal with the Marble Freedom Trust appears to have been structured in such a manner that both Seid and the nonprofit could avoid paying taxes on the transaction, according to The New York Times. “It’s high time for the conservative movement to be among the ranks of George Soros, Hansjörg Wyss, Arabella Advisors and other left-wing philanthropists, going toe-to-toe in the fight to defend our constitution and its ideals,” Leo said in a statement.