Jackson pours more than $200M of his fortune into Georgia governor’s race

Republican billionaire Rick Jackson has poured more than $200 million of his personal fortune into Georgia’s race for governor, a staggering sum that has shattered state records but hasn’t given him a clear lead over Democrat Keisha Lance Bottoms.

New campaign finance disclosures show Jackson pumped another $92.5 million into his campaign since August, including $4.5 million after the Oct. 20 reporting deadline.

That’s on top of the more than $111 million he previously contributed to his bid. He raised about $29 million from outside donors during the period, too.

The figures offer a fresh look at the extraordinary sums flowing into the nationally watched contest, which remains a toss-up less than a week before Election Day.

And it reveals the enormous financial gulf between the two rivals, even after a late fundraising bump from Bottoms boosted by help from national Democrats and wealthy donors.

Jackson raised nearly $117 million through his campaign and leadership committee between Aug. 1 and Oct. 20, roughly five times the $23.2 million Bottoms collected over the same period. And he’s added to that total since then.

The gap was even wider with what’s left in their bank accounts. Jackson ended the reporting period with about $22 million in cash across his two accounts, compared with roughly $2.2 million for Bottoms.

Yet all that money has not translated into a commanding lead. An Atlanta Journal-Constitution poll released last week showed the race deadlocked, with 8% of likely voters undecided.

They also show how Bottoms, who struggled to keep pace for much of the year, has finally found some financial footing in the closing stretch.

Jackson’s massive investment

Jackson’s spending has dwarfed anything ever seen in a Georgia governor’s race.

He poured more than $111 million of his own cash into the GOP primary, spending roughly $108 million of it to win the Republican nomination over Lt. Gov. Burt Jones, who was backed by President Donald Trump and outgoing Gov. Brian Kemp.

That’s allowed the healthcare executive to dominate the airwaves, blanket voters with campaign mailers and build an extensive “concierge”-like turnout operation that helped him close an early polling gap with Bottoms.

The latest disclosures show three, eight-figure personal contributions: $25 million on Aug. 14, another $25 million on Sept. 11 and $38 million on Oct. 5.

And Jackson has continued dipping into his wallet. A separate filing after the Oct. 20 deadline revealed another $4.5 million contribution, pushing his total personal investment past $203 million.

The spending is just as eye-popping. Jackson’s campaign reported spending $99.1 million during the latest reporting period alone, bringing its total expenditures to at least $213 million since he stunned the political world with his February launch.

Jackson, whose business empire spans healthcare, real estate, motion pictures and other investments, has repeatedly said he is willing to spend what it takes to win.

But the Republican hasn’t relied entirely on his own wealth since securing the nomination.

His leadership committee, For All Georgians, raised at least $22.8 million since Aug. 1, including another $11.5 million from the Republican Governors Association. The national GOP group has now spent $21.5 million on his bid.

The committee also collected checks from business interests and political action committees, including $2 million from the Washington-based 50 States Action Fund.

The committee transferred $10 million to Jackson’s campaign and contributed another $5.2 million to the Georgia Republican Party.

The reports showcase the growing influence of Georgia’s leadership committees, a controversial fundraising vehicle created by a 2021 law that can accept unlimited contributions.

Jackson challenged the system in court when it gave Jones an edge during the Republican primary. After capturing the nomination, he dropped the lawsuit and formed his own committee to collect the same unlimited contributions.

Bottoms’ late surge

Bottoms’ financial picture has improved since the summer, when she faced mounting pressure to step up her fundraising and find a way to counter Jackson’s spending.

The former Atlanta mayor raised $6 million through her campaign account between August and October, while her leadership committee, Project Battleground Georgia, amassed another $19.8 million.

After accounting for transfers between the two accounts, her total new fundraising came to $23.2 million. That’s nearly three times what she raised during her entire campaign through the end of July.

The Democratic Governors Association gave Bottoms the biggest boost, contributing more than $11 million to her leadership committee during the reporting period.