One of the most competitive 2024 Senate races is heating up, thanks in large part to nearly $18 million in billionaire donations to a super PAC supporting GOP candidate David McCormick, who hopes to unseat Democratic incumbent Senator Bob Casey in November.
Citadel’s Ken Griffin, Blackstone’s Steve Schwarzman and Elliott Management’s Paul Singer have heavily contributed to the super PAC, Keystone Renwal, Bloomberg reports.
McCormick, a former chief executive officer at hedge fund Bridgewater Associates, is seen as a business-friendly Republican who could pose a formidable challenge to Democratic incumbent Senator Bob Casey in the 2024 election.
The $18 million that Keystone Renewal raised since it was formed in August is in addition to the $6.4 million the McCormick campaign raised in the fourth quarter. -Bloomberg
According to Ken Griffin, McCormick is a "proven business leader who understands what it takes to create jobs and grow a company," and "America will be well served if talented patriots and leaders like David are elected to serve in Congress."
According to Keystone spokesperson, Brittany Yanick, "This shows that there is not only real excitement and momentum for McCormick’s candidacy, but also the fact that Pennsylvania is a state that McCormick will win in November."
In December, Paul Tudor Jones hosted a fundraiser at his home in Palm Beach, Florida. Guests included former Commerce Secretary Wilbur Ross; San Francisco Giants principal owner Charles Johnson; former Colorado Senator Cory Gardner; and Byron Trott, founder of merchant bank BDT & MSD Partners LLC., according to the report.
The push behind McCormick shows that major Republican donors are serious about flipping the Senate red this year. While Democrats currently maintain a slim majority in the chamber, they face tough races in Ohio, Montana, and West Virginia.