Bloomberg News

Perry Has Cash Lead Among Republican Presidential Candidates

October 16, 2011

Oct. 16 (Bloomberg) -- Texas Governor Rick Perry led the Republican field in fundraising in the third quarter, taking in $17.2 million and entering October with more money in the bank than any of his challengers for his party’s presidential nomination, Federal Election Commission reports show.

Perry reported $15.1 million in cash as of Sept. 30. Former Massachusetts Governor Mitt Romney, who raised $14.2 million from July to September, had $14.7 million in cash. Representative Michele Bachmann, winner of the Iowa straw poll, raised $3.9 million and had $1.3 million in the bank.

Romney led all Republican contenders by raising $32.6 million through Sept. 30, While former House Speaker Newt Gingrich reported $1.2 million in debts, more than any other candidate.

President Barack Obama’s campaign has overwhelmed the Republican field financially. He raised $42.1 million from July through September, including $9 million from a joint fundraising committee with the Democratic National Committee and almost $20 million in amounts of $200 or less. He has raised $88 million for his re-election and spent $29 million. Obama reported $61.4 million in the bank, four times what Perry and Romney have on hand.

Simmons Contributions

Perry received $5,000 from the political action committee of Dallas-based Contran Corp., whose chairman, Harold Simmons, is the second-largest individual contributor to his gubernatorial campaigns, according to Texans for Public Justice, an Austin-based watchdog group.

Simmons and his wife also contributed $2,500 apiece to the Perry campaign, as did his brother, Glenn, Contran’s vice chairman, and his wife.

Romney had led all Republican contenders by raising $18.3 million from April to June. While through Sept. 30, he has taken in $32.6 million, more than any other Republican, he has also spent more money, $18 million, including $12.3 million from July through September. The campaign spent more than $3 million on fundraising and strategy consultants, $2.7 million on direct mail and $1.5 million on staff.

Perry’s Travel

Perry’s largest expenditure was $459,171 on travel. He spent $397,195 on staff. In total, he spent $2.1 million.

Bachmann, of Minnesota, raised 72 percent of her money, $2.8 million, in donations of $200 or less. Small donors are important because they haven’t yet reached the maximum contribution level of $2,500 and candidates can ask them for more money.

She has raised a total of $7.5 million for her campaign, including $2 million transferred from her congressional campaign committee, and spent $6.2 million.

In the third quarter, she spent more than $2 million on fundraising and donated $197,000 to the Republican Party of Iowa, site of the first-in-the-nation caucuses and a contest crucial to her chances of winning the nomination.

Representative Ron Paul of Texas raised $8.3 million, including $500,000 transferred from his congressional campaign account, and had $3.7 million in the bank. Paul raised $3.8 million in donations of $200 or less. He has now raised $12.8 for his campaign, behind only Romney and Perry.

Businessman Cain

Businessman Herman Cain, who won the Florida straw poll last month, reported raising $2.6 million from July to September, with $1.5 million of that in donations of $200 or less. Cain loaned his campaign another $175,000, bringing his total personal investment to $675,000. Including his second- quarter fundraising, he has brought in $4.7 million for his campaign. He had $1.3 million cash-on-hand.

Former House Speaker Newt Gingrich of Georgia reported debts of $1.2 million, including $451,946 to an air travel firm and $69,847 to himself for travel. His campaign was $1 million in debt at the end of June.

Gingrich raised $807,962 from July to September, bringing his total to $2.9 million. He has spent $2.6 million and entered October with $353,417 in the bank.

His campaign will open headquarters in Iowa, New Hampshire and South Carolina this month, said R.C. Hammond, a spokesman.

Jon Huntsman, the former Utah governor and U.S. ambassador to China, loaned his campaign $2.2 million, as much as he received from donors. His first disclosure report as a presidential candidate showed that he raised $2.2 million through September and had $327,615 in the bank as of Sept. 30. He reported spending $4.2 million and owing another $896,113. Huntsman wasn’t required to file a second quarter report in July because he entered the primary race on June 14.

Former Pennsylvania Senator Rick Santorum reported raising $704,199 in the third quarter, bringing his total to $1.3 million. He had $200,000 in the bank after spending $1.1 million, including $743,757 from July to September.

Obama Bundlers

Obama’s campaign released an updated list of bundlers, those raising at least $50,000. He is the only candidate identifying all of his major fundraisers, those who solicit donations from friends and bundle the donations to the campaign.

Obama’s bundler ranks rose to 351 from 244 in the second quarter. The number of those bringing in the biggest sums, more than $500,000, rose to 41 from 27 in June.

Additions include two fundraisers who helped raise more than $500,000 for Obama’s 2008 campaign -- Robert Wolf, Americas chairman of UBS AG and a member of Obama’s Council on Jobs and Competitiveness, and Matthew Barzun, the 2012 Obama campaign’s national finance chairman and former U.S. ambassador to Sweden. Barzun was formerly chief strategy officer at CNET Networks Inc.

--Editors: Ann Hughey, Christian Thompson.

To contact the reporter on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net.

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net.


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