Michael Bills

Michael Bills is a Democratic Party megadonor and hedge fund manager based in Charlottesville, Virginia. He is the chairman of the board and founder of the environmentalist group Clean Virginia, as well as a major donor behind the left-of-center political action committee Commonwealth Forward. 1

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At-A-Glance

Occupation: Donor
Issue Areas: Environmental Policy
Nationality:

American

Contents

    Elections Daily called him and his wife, Sonjia Smith, the “new kingmakers of the Virginia Democratic Party” due to their massive donations to Virginia Democrats. 2 Real Clear Politics compared him to billionaire financier George Soros and nicknamed him “Daddy Greenbucks.” He has been Virginia’s single largest political contributor since 2017. 1

    The Democratic Senate Majority Leader-designate accused Bills and Clean Virginia of engaging in a quid pro quo during the leadership elections for the Democratic caucus in the Virginia legislature in 2019. Bills and his organization allegedly pressured legislators they supported to vote against a candidate for leadership because she accepted donations from Dominion Energy. 3

    Life and Career

    Michael Bills attended Hampton High School and graduated from the University of Virginia. 4

    In 1992, he co-founded the Sorensen Institute of Political Leadership. 5

    He became a Goldman Sachs vice president 1 and chief investment officer of the University of Virginia’s endowment. 5

    He eventually founded and became chief investment officer of the hedge fund Bluestem Asset Management LLC, which controls $1.5 billion in assets. 1

    Clean Virginia

    Michael Bills founded the environmentalist group Clean Virginia in 2018 ostensibly to counter the influence of Dominion Energy and other state-regulated energy firms had over Virginia politics. He claimed that the influence costs Virginians money, damages the environment, and destroys trust in politics. 6

    Influencing Virginia Elections

    2017 Elections

    In 2017, Michael Bills gave six-figure donations to Democrat Ralph Northam’s gubernatorial campaign, Democrat Mark Herring’s attorney general campaign, and the Virginia Democratic Party. 1

    2019 Elections

    Clean Virginia helped Michael Bills become the largest single individual donor in the 2019 Virginia legislative elections. Only party PACs spent more than Bills and Clean Virginia. 7

    Clean Virginia gave to 88 Democratic candidates and committees and is only condition was that they rejected donations from Dominion Energy. 7

    Clean Virginia drew criticism from state Senator David Suetterlein (R) for endorsing his Democratic opponent despite the fact that Suetterlein was one of the few Republican legislators who frequently voted against Dominion Energy. Suetterlein accused Bills and Clean Virginia of being more interested in building a Democratic majority than countering utility influence. Clean Virginia claimed their endorsements are the result of a candidate questionnaire, which Suetterein did not fill out. 7

    Clean Virginia ultimately donated $5,000 to one Republican candidate in the 2019 election cycle, state Senator Amanda Chase (R). The group claimed they were not endorsing Chase, just giving her money for completing the questionnaire. 7

    Clean Virginia and Bills donated $2 million to help Democrats win the majority in the Virginia legislature. 8

    2021 Elections

    Michael Bills and his wife Sonjia Smith funded left-of-center candidates in the Democratic primary. Clean Virginia also gave $925,000 to the left-of-center PAC Commonwealth Forward. 2

    2023 Elections

    As of September 2023, Michael Bills and Clean Virginia spent at least $4 million with 95% of it going to Democrats or left-of-center political groups. 1

    Bills and Clean Virginia were responsible for 84% of the budget of Commonwealth Forward which claims “corporations control Virginia” and “Virginia is not for sale.” 1

    Support For National Democrats

    Michael Bills supported various Democratic Party-aligned PACs including the 2020 Biden Action Fund ($100,000), the 2016 Hillary Victory Fund ($403,000), and the 2012 Obama Victory Fund ($25,000), as well as numerous state Democratic Parties. 9

    In the 2022 midterms, he gave tens of thousands to committees backing Democratic Wisconsin Senate candidate Mandela Barnes, U.S. Representative Abigail Spanberger (D-VA), and U.S. Senator Raphael Warnock (D-GA), while also maxing out his personal contribution limit to dozens of other Democrats’ campaigns. 1

    Dominion Donations Controversy

    In 2019, then-Virginia Senate Majority Leader-designate Dick Saslaw, a Democrat, accused Clean Virginia and Michael Bills of pressuring candidates they funded to oppose Democrat Delegate Eileen Filler-Corn’s election as Speaker of the state House of Delegates because she accepted donations from Dominion Energy. Saslaw accused Clean Virginia representatives of calling delegates to vote against Filler-Corn. Clean Virginia denied the allegations and accused Dominion Energy of lying about it. 3

    In 2019, the Democratic Party of Virginia voted to stop accepting donations from Dominion Energy. Bills donated $200,000 to the party after its decision. 3

    Other Political Activism

    Michael Bills sits on the board of the Environmental Defense Fund, a left-of-center environmentalist group that advocates against carbon-free nuclear energy. 1

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    References

    1. Ludwig, Hayden. “Goldman Sachs Millionaire Bankrolling Virginia’s Democrats.” Real Clear Politics, September 22, 2023. https://www.realclearpolitics.com/articles/2023/09/22/goldman_sachs_millionaire_bankrolling_virginias_democrats_149789.html#!
    2. Szymanski, Joe. “Sonjia Smith and Michael Bills: The New Kingmakers of the Virginia Democratic Party?” Elections Daily, June 3, 2021. https://elections-daily.com/2021/06/03/sonjia-smith-and-michael-bills-the-new-kingmakers-of-the-virginia-democratic-party/amp/.
    3. Scher, Brent. “Dem Donor Michael Bills Accused of ‘quid pro Quo’ in Virginia.” Washington Free Beacon, November 19, 2019. https://freebeacon.com/politics/dem-donor-michael-bills-accused-of-quid-pro-quo-in-virginia/.
    4. [1]“Michael Bills.” Clean Virginia. Accessed October 1, 2023. https://www.cleanvirginia.org/michael-bills/.
    5. “Michael Bills.” Clean Virginia. Accessed October 1, 2023. https://www.cleanvirginia.org/michael-bills/.
    6. “Founder’s Statement.” Clean Virginia. Accessed October 1, 2023. https://www.cleanvirginia.org/about/founders-statement/.
    7. Oliver, Ned. “A Multi-Millionaire Set out to Counter Dominion. Now He’s the State’s Biggest Campaign Donor.” Virginia Mercury, October 21, 2019. https://www.virginiamercury.com/2019/10/21/a-multi-millionaire-set-out-to-counter-dominion-now-hes-the-states-biggest-campaign-donor/.
    8. Cheslow, Daniella. “Environmental Groups Were Top Donors in Virginia’s Elections. Now, They Want Results.” NPR, November 26, 2019. https://www.npr.org/local/305/2019/11/26/782929103/environmental-groups-were-top-donors-in-virginia-s-elections-now-they-want-results.
    9.  [1]Ludwig, Hayden. “Goldman Sachs Millionaire Bankrolling Virginia’s Democrats.” Real Clear Politics, September 22, 2023. https://www.realclearpolitics.com/articles/2023/09/22/goldman_sachs_millionaire_bankrolling_virginias_democrats_149789.html#!