Due to the Citizens United decision, we know that money is speech. We’ve also known for a while that the extremely wealthy are funding elections to an extraordinary degree and reaping the benefits.
The extraordinary spending in Montana is part of a new era of political power for the rapidly growing number of billionaires minted over the past eight years. The Times analysis found that 300 billionaires and their immediate family members donated more than $3 billion — 19 percent of all contributions — in federal elections in 2024, either directly or through political action committees.
Five presidential elections ago, before the Supreme Court’s 2010 ruling that lifted many remaining campaign finance restrictions, the share of billionaire spending was almost zero — 0.3 percent, to be precise.