Bloomberg News

Obama Reports Raising $12 Million Last Month for Campaign

February 17, 2012

(Updates with Obama’s top donors in fourth, fifth paragraphs. For more campaign news, go to ELECT.)

Feb. 17 (Bloomberg) -- President Barack Obama raised $12 million for his re-election campaign last month, according to disclosures filed today with the Federal Election Commission.

The figure includes $2.5 million transferred from a joint fundraising account with the Democratic National Committee. He has now raised $140 million for his re-election, and entered February with $76 million in the bank.

Including money raised for the party at events featuring the president, Obama took in $29.1 million last month. Obama’s major fundraising events solicit donations for both his re- election campaign and the DNC.

The biggest contributors to Obama’s campaign last month were employees at the Debevoise & Plimpton LLP law firm, who gave a total of $49,100, according to a Bloomberg News computer- assisted analysis of FEC data. The firm was hired last year to lobby by the Private Equity Growth Capital Council, a Washington-based trade group for such firms as Blackstone Group LP and KKR & Co., both based in New York.

Employees of New York-based Morgan Stanley contributed $15,739, Obama’s biggest corporate source of donations last month. Mountain View, California-based Google Inc. employees donated $11,021. Former New York Knicks player Allan Houston, now the team’s assistant general manager, contributed $5,000, as did actor-director Rob Reiner.

Fundraising Swing

The president is wrapping up a West Coast fundraising swing, where he is expected to take in more than $8 million for his campaign and the Democratic Party. Today’s calendar included two Washington State events expected to bring in at least $1.6 million, a luncheon at the home of Costco Wholesale Corp. co- founder Jeff Brotman and his wife, Susan, in Medina and a reception in Bellevue.

Yesterday, Obama dined with about 70 people at the San Francisco home of Nicola Miner, daughter of Oracle Corp. co- founder Robert Miner, and her husband, novelist Robert Mailer Anderson. Singer Al Green provided the entertainment.

Obama raised $37 million for his campaign, three times his 2012 amount, during the same period four years ago, when he was competing for the Democratic nomination.

Earlier this month, he began encouraging supporters to contribute to a political action committee backing him, a reversal from 2008 when he shunned such outside groups. Michael Malbin, executive director of the Campaign Finance Institute, a Washington-based research group, said the fundraising decline and the call for super-PAC donations could be related.

“This is the first time the president’s campaign has fallen significantly behind its previous pace,” Malbin said. “Perhaps that helps explain the president’s statements last week encouraging the activities of the independent spending super-PAC formed to support his re-election.”

--With assistance from Kate Andersen Brower in Seattle, Washington. Editors: Robin Meszoly, Mark McQuillan.

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

To contact the editor responsible for this story: Jeanne Cummings at jcummings21@bloomberg.net.


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