AUSTIN- Billionaire businessman and Democratic donor George Soros made a donation of $1 million to gubernatorial candidate Beto O’Rourke’s (D) campaign.
In addition to Soros, O’Rourke received $1 million each from Tench and Simone Coxe, a high-powered Silicon Valley couple who moved to Austin last year. He’s a former GOP donor and venture capitalist, while she co-founded public relations firm Blanc & Otus.
The donations were made official on the first day of O'Rourke's 'Drive for Texas' tour, a 49-day, 5,600-plus-mile statewide tour across the lone star state to meet with voters in hopes of defeating Gov. Greg Abbott in the Nov. 8, 2022 election.
Over the next 49 days, O'Rourke will meet with over 65 Texas counties in an effort to rally support for unseating Governor Abbott.
“I think it’s really important that we all work to ensure everyone in this state has an opportunity to do well and get ahead,” O’Rourke said during his El Paso visit. “With Greg Abbott as governor, that’s becoming harder and harder for most people in this state.”
At the El Paso event, O’Rourke cited focusing on creating jobs, investing in world-class schools, improving mental health resources, lowering costs so families can afford to live in Texas, gun safety, and fighting the ban on abortions in the state as the pillars of his campaign.
As far as campaign fundraising, both O'Rourke and Governor Abbott are on pace to shatter records for donations for a state office position in Texas.
Republican incumbent Greg Abbott, who is seeking his third term in office, began his campaign with over $55 million to put towards it and has raised an additional $25 million this summer. These are some truly staggering figures and one that makes O'Rourke's uphill climb to dethrone him even tougher.
However, O’Rourke reported raising $27.6 million from late February through June, which is the most a candidate for state office in Texas has ever raised in a single reporting period. Because Texas has no campaign finance contribution limits, it’s possible both candidates will accumulate and spend record-breaking amounts of campaign cash by November.
Here is a breakdown of how the two candidates have spent their money thus far:
O'Rourke has raised about $4 million more than Abbott as of June 30, 2022, helped by his recent record-breaking numbers. However, Abbott still holds the financial advantage and has twice as much cash on hand as O'Rourke.
Together, the candidates have raised $78 million, spent $68 million, and have about $70 million remaining in their campaign coffers.