Charlotte Entrepreneurs Fuel Political Contributions in 2024 Election Season

Charlotte Business Leaders Step Up to the Plate in 2024 Election Season

The buzz surrounding the 2024 presidential campaign is reaching new heights, and local business leaders in Charlotte are making their voices heard. According to a recent analysis of the Federal Election Commission (FEC) filings for the second quarter of 2024, it looks like fundraising records are about to be shattered, and Charlotte’s own entrepreneurs are playing a crucial role in this political drama.

Charlotte’s Heavy Hitters

Leading the charge are some familiar names from the local business scene. Notable contributors include Jay Faison, a prominent entrepreneur and climate change advocate, along with Roddy Dowd, vice chairman of Charlotte Pipe and Foundry, and Kenneth Gill, who is the CEO of CPI Security Systems, accompanied by his wife, Malinda Gill. These financiers are among the top local donors, each contributing at least $25,000 to various political action committees.

Where the Money’s Flowing

The data reveals an interesting landscape when it comes to political donations. The bulk of cash from Charlotte landed in the hands of right-leaning organizations, while left-leaning committees saw a smaller share. In the second quarter, over $3.34 million flowed to right-leaning entities, while their left-wing counterparts earned about $163,800. Additionally, $11,600 was allocated to nonpartisan organizations.

The standout in this fundraising frenzy is Super PAC America Leads Action Inc., which bagged more than $2.1 million during this time frame. Other significant recipients include Trump 47 Committee Inc., collecting around $376,156, and WinRed, with $169,497. On the left side, ActBlue received about $39,000, which, while notable, pales in comparison to its rivals.

Business Leaders Not Shying Away

Political scientists might argue that while businesses often tread lightly in political waters, individuals—especially those who have stepped back from day-to-day operations—are more inclined to take a stand. Robin Kolodny, a political science professor at Temple University, points out that “Capitalists have an ideology, and it’s called profits.” Essentially, the game is about maintaining access to customers, employees, and markets, which often translates into political contributions.

Big Spenders at the National Level

As far as big-money donations are concerned, names like Timothy Mellon, heir to the Mellon banking fortune, and media mogul Michael Bloomberg came out swinging. Mellon contributed an astounding $65 million, with $60 million earmarked for the Make America Great Again PAC. Bloomberg, on the other hand, dished out $19 million to the Future Forward PAC, a darling of tech firms.

Local Businesses Seeing Campaign Benefits

Even if Charlotte businesses weren’t the top recipients of funds from national campaigns, many have benefited from campaign spending. For instance, D2 Production Services in Matthews received a disbursement of $3,827 from the Harris for President campaign. This showcases how local shops can get a taste of the action, even as larger national firms scoop up the lion’s share of financial resources.

The Spending Spree Continues

Meanwhile, the spending from major campaigns tells an intriguing story as well. The Trump campaign has paid hefty sums to firms for services that include direct mail and event-staging, while the Biden campaign heavily invested in digital media operations to reel in voters ahead of the critical election season.

With Charlotte’s business elite stepping up their game, the upcoming election looks to be not only about policies but also about local involvement. As we move further into the campaign season, it surely seems that Charlotte is not sitting on the sidelines but instead playing an active role on the political stage.