These American CEOs aren’t feeling the Bern. Here's where their donation dollars are going instead.
While the moderate Democrats finished behind Bernie Sanders in New Hampshire, fellow 2020 presidential hopefuls Amy Klobuchar, Pete Buttigieg and Joe Biden are winning over the CEOs of S&P 500 companies, as top executives cast votes with their wallets.
Five have supported former Vice President Biden’s campaign. That’s shown in the chart below and based on a MarketWatch analysis of Federal Election Commission data on individual contributions made in 2019 to a candidate’s principal presidential campaign committee, as reported for a Jan. 31 filing deadline.
“On the other side, those candidates don’t want that money because they have been using that to attack their opponents,” Freed added. “Just take a look at the attacks on Buttigieg, [with Sanders supporters] calling him ‘Wall Street Pete’ because he’s taken some Wall Street money.”Most of the CEOs have donated $2,800, as that’s the maximum that an individual can give to a candidate in an election.
Biden’s other S&P CEO donations came from the heads of Connecticut-based Amphenol Corp. APH, -0.29% , California-based Essex Property Trust Inc. ESS, +0.83% , New York–based Henry Schein Inc. HSIC, +0.87% and Nevada-based MGM Resorts International MGM, -0.88% . Biden’s campaign declined to comment, and Buttigieg’s, Klobuchar’s and Warren’s teams didn’t respond to requests for comment. A Biden spokesman last year stressed that the former vice president’s 2020 effort was “powered by hundreds of thousands of grassroots supporters who are backing him,” when the campaign was asked how voters should think about CEO support.
Netflix and Nielsen declined to comment. Ecolab, Delta, Best Buy, Allergan, Simon, Prologis, Incyte, AmerisourceBergen, Amphenol, MGM Resorts and Essex didn’t respond to requests for comment.
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