Despite funding the majority of his presidential run with paltry $5 donations from everyday Americans, President-elect Barack Obama has had a slew of billionaire backers with him on his journey to the White House — plutocrats who provide economic and political advice and help to raise money. Lots of money.
Since campaign contributions are capped at $2,300 per individual and donations to the Inaugural Committee have a $50,000 limit per person, most billionaires help out by serving as “bundlers” — well-connected folks who help gather donations from family, co-workers and associates.
Obama’s national finance chairwoman during his presidential campaign was Penny Pritzker, one of 11 members of the famous Chicago family that appear on the Forbes list of the 400 richest Americans (combined net worth as of September: $21.6 billion).
As of Nov. 24, 2008, Obama’s campaign had raised a record-breaking $742 million during the election, according to the Center for Responsive Politics.