Romney, Obama Battle for the 1%

And Newt Gingrich fights for money from anyone
By Kate Seamons,  Newser Staff
Posted Dec 6, 2011 8:58 AM CST
In Election 2012 Fundraising, Mitt Romney, Barack Obama Battle for the 1%
Republican presidential candidate Mitt Romney speaks during a town hall meeting at the Doubletree Miami Airport hotel as he campaigns in South Florida on September 21, 2011 in Miami, Florida.   (Getty Images)

(Newser) – Fundraising is the name of the game right now, and the Washington Post and New York Times today take a look at how the big-name contenders are faring.

  • The Post checks in on the battle for the richest of the rich, and it's a Mitt Romney vs. Barack Obama affair. Thus far, Romney is wooing more one-percenters, with at least 42 billionaires contributing to his campaign; Obama has racked up 30 so far. Romney's most noteworthy supporters include Redskins owner Dan Snyder and publisher Sam Zell; in Obama's corner stand Progressive insurance company chairman Peter Lewis and Google's Eric Schmidt. Since big-money donors can give unlimited amounts to super PACs, the Post predicts that a billionaire will, in this cycle, top the current giving record: the $24 million George Soros spent in support of Kerry in 2004.

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  • The Post notes that Newt Gingrich had just four billionaire donors as of September (his campaign was also $1 million in debt then), and he's no doubt shopping for more. The Times reports on the new frontrunner's mad hustle to rake in some dough before primary season kicks off in four weeks. Gingrich courted Manhattanites yesterday, with a fundraiser at the Union League Club before engaging in private meetings with deep-pocket donors. His campaign says he has brought in $4 million in Q4. Luckily, he'll be able to save in one area, notes his rep: "We don’t have to pay for consultants, we don’t need speechwriters—the candidate knows what he’s going to say."
(Read more campaign fundraising stories.)

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