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Joe Manchin raises $1 million from Bob Kraft, Wall Street, energy corporations

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U.S. Senator Joe Manchin (D-WV) walks to the Senate floor on the U.S. Capitol in Washington, June 7, 2022.

Jonathan Ernst | Reuters

Sen. Joe Manchin’s reelection campaign raised over $1 million over three months due to donations from the likes of Recent England Patriots owner Robert Kraft, multiple Wall Street leaders and energy giants.

That latest fundraising haul from wealthy business leaders and corporations got here within the second quarter, which concluded somewhat over two weeks ago, at the tip of June, based on Federal Election Commission records. The donations arrived as Manchin, a conservative Democrat from West Virginia, engaged in negotiations over climate change and tax laws, that are priorities for President Joe Biden and their party.

This week, he said he is not going to move ahead with further discussions on these provisions.

Manchin, in an interview on West Virginia’s MetroNews’ “Talkline” on Friday, said he desires to hold off on the party’s climate and tax policy proposals until after the subsequent next national report on inflation data. Inflation rose by greater than 9% in June.

Manchin previously rejected Biden’s $1 trillion-plus social and climate spending proposal, which was referred to as Construct Back Higher. Representatives for Manchin didn’t reply to a request for comment.

Business and Wall Street leaders have heaped praise on Manchin as he holds up his party’s agenda. He saw a wave of donations from corporate leaders and massive energy corporations themselves before his latest decision to stall his party’s policy goals.

In May, Home Depot co-founder Ken Langone and longtime investor Stanley Druckenmiller co-hosted a meet-and-greet breakfast for Manchin, based on people briefed on the matter, who declined to be named for the reason that event was private.

Langone previously praised Manchin on CNBC and said he would host “certainly one of the largest fundraisers I’ve ever had for him.” Calls to Langone’s and Druckenmiller’s offices weren’t returned.

PACs for energy corporations corresponding to Coterra Energy, NextEra Energy and Xcel Energy all donated to Manchin’s campaign prior to now quarter. Those businesses may very well be affected if Congress passes any climate-related bills. West Virginia produces crude oil, natural gas and coal.

The American Exploration and Production Council gave $1,700 to Manchin’s campaign in June. That trade association represents “the biggest independent oil and natural gas exploration and production corporations in the USA,” based on its website. The group lists gas and oil giants as members, including Hess, Chesapeake Energy and ConocoPhillips. The trade association and the energy corporations that donated to Manchin’s campaign didn’t reply to a request for comment.

Kim Greene, the CEO of Southern Company Gas, contributed not less than $2,900 to Manchin’s campaign in June. A spokesperson for Southern Company Gas declined to comment.

Manchin is up for reelection in 2024, the yr of the subsequent presidential campaign. His campaign’s latest filing says it has just over $9 million available.

Kraft, the owner of the Patriots, donated two $2,900 checks to Manchin’s reelection campaign in May. Kraft has a net value of just over $8 billion, based on Forbes. A person can provide $5,800 to a campaign, with the max of $2,900 being earmarked for an account designated for a primary election account and the opposite half being put toward a general election.

His son, Patriots President Jonathan Kraft, gave the identical amount to Manchin that month. A spokesperson for the Patriots didn’t reply to a request for comment.

Paul Tudor Jones, a Wall Street hedge fund manager, also gave two $2,900 checks to Manchin two months ago. Forbes says Jones has a net value of around $7 billion. A spokesperson for Jones declined to comment.

Warren Stephens, the CEO of investment bank Stephens Inc., also maxed out to Manchin’s campaign, as did multiple leaders inside Blackstone and a managing director at Goldman Sachs. A spokesperson for Stephens declined to comment.

Edward Decker, the CEO of Home Depot, also gave two $2,900 contributions to Manchin’s reelection campaign.

A Home Depot spokesperson declined to comment.

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