Because Texas doesn’t have limits on contribution amounts, rich and powerful people can cut massive checks to campaigns.
Abbott’s biggest individual donors have always come from the energy industry, and this time is no exception, with energy tycoons making up 40% of his top 10 donors. Oil and gas executives S. Javaid Anwar and Gary Martin, in particular, have been regular contributors to Abbott for years. In addition, Abbott has received donations from deep-pocketed donors in the real estate industry like Edward Roski Jr., president of Majestic Realty in California, who gave $1.5 million, as well as three donations of $1 million each from supporters in finance and casinos.
O’Rourke received $2.2 million from Austin couple Simone Coxe, who has worked in communications, and Tench Coxe, a former venture capitalist. He also received $1.5 million from billionaire George Soros, who is known for backing liberal candidates. O’Rourke’s top donors come from industries including finance, media and philanthropy. In addition, cryptocurrency CEO Sam Bankman-Fried, who gave O’Rourke $1 million, is under investigation for breaking the state’s securities law.