Some mega-donors get the money flowing into super-PACs by hosting a fundraiser. In February, private equity giant Henry Kravis held an event at his Manhattan home for Mr. Bush with an eye-popping request of $100,000 per person. The reported $4 million raised went to Bush’s Right to Rise PAC. As long as Bush is an undeclared candidate, he can help raise money for his super-PAC.
“The price of admission to the event ... surprised even Wall Street veterans used to high-dollar fundraisers,” Politico reported, calling Bush’s fundraising approach “shock and awe.”
Mr. Kravis is co-founder of private equity firm KKR & Co. He is No. 291 on the Forbes list of the world’s billionaires, worth $5.1 billion.
