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#elizabeth — Public Fediverse posts

Live and recent posts from across the Fediverse tagged #elizabeth, aggregated by home.social.

  1. #Charles #Koch, perhaps the most legendary Republican financier of recent decades,
    has never backed Trump, either.

    The political network affiliated with him and his late brother #David remained officially neutral in the Presidential races of 2016 and 2020,
    and spent tens of millions of dollars trying to defeat Trump in this year’s Republican primaries,
    -- much of it supporting Haley.

    When she dropped out, the Koch network concentrated on down-ballot races.

    But Kochworld, like the Republican Party more broadly, remains divided.

    “There are a lot of donors in that network lobbying Charles from the perspective of,
    I know you don’t like him,
    but he’s better than the alternative,”
    Marc Short, who worked for a Koch-affiliated group
    and later served as Vice-President Mike Pence’s chief of staff, said.

    Nevertheless, neither Koch nor Pence is supporting Trump this fall
    —a remarkable rift, given the role that each of them has played in Republican politics.

    At the same time, Trump has cultivated a new group of what might be called #maga #megadonors.

    A study conducted for The New Yorker by the campaign-finance expert Robert Maguire,
    of the nonprofit good-government group #crew,
    found that, as of this summer,
    more than forty of the G.O.P.’s biggest super-pac donors during Romney’s 2012 campaign had never given to a pro-Trump super pac,
    including Oracle’s co-founder #Larry #Ellison,
    the Dallas real-estate tycoon #Harlan #Crow,
    and the hotel magnate J. W. #Marriott, Jr.

    Meanwhile, nearly sixty pro-Trump donors in the study,
    including #Lutnick, #Mellon, #Perlmutter, and the Wisconsin shipping magnates #Richard and #Elizabeth #Uihlein, had given nothing to the pro-Romney super pac.

    Others have significantly increased their giving.

    The #Adelsons, for example, donated $53 million to the pro-Romney super pac in 2012 and $90 million to support Trump in 2020,
    when they were the largest individual donors of the cycle.

    By the end of September, Miriam Adelson had given $100 million to back Trump in 2024.

    With such sums at stake, Trump has pursued what the former Bush Pioneer called a “high touch” approach to the Republican billionaire class.

    🔥The ex-President has all but invited donors to view their contributions as business investments,
    telling oil-and-gas executives who went to see him in April at Mar-a-Lago, for example, that,
    💥because he would allow unrestricted drilling,
    🧨they should raise $1 billion for his campaign
    —a statement redolent of Sondland’s “quid pro quo” that soon leaked to the Washington Post.

    The campaign’s strategy, another longtime fund-raiser told me,
    was essentially to let Trump be Trump:

    “He talks the same book to everybody.”

    Oliver, the former Bush finance director, observed that the difference between the model of the Bush campaigns and Trump’s is the difference between having a large pool of “institutional investors” which had been built up in the course of years, and a series of ad-hoc “transactional” dealings with a relatively small group of the ultra-rich.

    Sean Wilentz, a historian at Princeton University, offered another key distinction. Trump’s billionaires—many of whom have made their fortunes as hedge-fund managers, activist investors, and corporate raiders—tend to be highly motivated ideologues and individual operators. “It’s transactional, but their end of the bargain is a lot different than just having access to the President of the United States,” Wilentz told me. “They see Trump as their instrument. This is an investment for them to take power.” Wilentz noted that, unlike the “traditional corporate conservative élite” dating back to the Gilded Age, this new “class of the super-rich” appears both more numerous and less civic-minded. “The other guys might have been robber barons,” Wilentz said. “These guys are oligarchs.”

  2. (1/3)

    Murdoch family drama plays out in court with fate of Fox News at stake

    If #Rupert #Murdoch, 93, prevails in his legal effort to change voting rights of the #family #trust
    to ensure that his chosen successor and conservative-leaning eldest son, #Lachlan Murdoch, 53, runs the company after his death, little may change.

    ♦️The proceedings pit Murdoch, 93, and his chosen successor, Lachlan, against his three more liberal-leaning siblings, Prudence, Elizabeth and James,
    over future control of Murdoch’s #Fox Corp and #News Corp through the family’s control of the global empire’s share structure via an irrevocable trust set up in 1999.

    According to the Murdoch-owned Wall Street Journal, Murdoch is arguing that
    “shifting voting control of the trust to Lachlan should be allowed because it is in the best interest of all the beneficiaries, including his other children”.

    ⭐️But if the patriarch loses, the younger brother #James Murdoch, in concert with his sisters #Prudence and #Elizabeth, could force Fox News to move away from the conservative news alignments of their father and brother.

    🧨That would be an earthquake in American politics.

    ➡️ No other media power in the US has the impact that Fox News has had in the last two decades.

    It has become a driving force of American conservatism, feared for its power by both Republicans and Democrats.

    And condemned by many for its conservative bias and numerous show hosts who have become darlings of the US right and powerful players on their own.

    Figures such as Sean #Hannity are hugely powerful within the Maga world, while the former host Tucker #Carlson
    – now exiled from the station where he rose to power
    – has withered outside it and been largely unable to recreate the influence he had while broadcasting to Fox’s viewers.

    Gaming out the different scenarios at stake in Reno is water cooler talk at Fox News’s midtown New York headquarters,
    with TV hosts discussing a reposition of their own personal brands if liberal-leaning James wins
    and opening back-channel communications with him if his father and rival brother prevail.

    But despite their immense importance the legal arguments over the Murdoch Family Trust presented within the impenetrable walls of a 1960’s annex court extension in Reno last week are known only to the judge and court staff, Rupert Murdoch, his first and second set of children and an army of lawyers, including Trump’s attorney general William Barr.

    “A family trust like the one at issue in this case … is essentially a private legal arrangement,”
    the Washoe county probate commissioner Edmund J Gorman Jr, wrote in an 18-page recommendation before the parties convened.

    ❇️ James, Elisabeth and Prudence, want the trust to be maintained and oppose Murdoch’s proposed change giving Lachlan control because they would stand to lose voting power.

    Yet while Lachlan’s politics are comfortably rightwing and match his father’s,
    the opposing other siblings have a different world view.

    James Murdoch even hosted Joe #Biden in his home for a fundraiser in 2022 and🔥 has endorsed #Kamala #Harris to beat Trump in 2024.

    But it won’t be Fox politics under discussion so much in Reno.
    Instead, much of that argument will be couched in an examination of US corporate governance conventions that allow for a family to control a business they do not majority own by a so-called #dual #class structure of shares
    – in effect the family shares have more power than others.
    theguardian.com/media/2024/sep