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Political Party/527

The Opportunity Matters Fund

Website:

https://opportunitymattersfund.org/
Location:

Beverly, Massachusetts 1

References

  1. “Opportunity Matters Fund.” Open Secrets (Center for Responsive Politics). Accessed February 25, 2022. https://www.opensecrets.org/political-action-committees-pacs/opportunity-matters-fund/C00750182/summary/2020
Type of Organization:

527 Super PAC 1

References

  1. “About.” Opportunity Matters Fund. Accessed February 25, 2022. https://opportunitymattersfund.org/about

The Opportunity Matters Fund is a political action committee that is aligned with Sen. Tim Scott (R-SC). 1 Larry Ellison, the billionaire co-founder of Oracle, is the chief known funder of Opportunity Matters Fund. 2

The organization focuses on supporting candidates who back school choice, economic freedom, equal opportunity, and government spending on opportunity zones. 3

Background

Opportunity Matters Fund is a political action committee that supports Republican and conservative political candidates that it says are aligned with an “opportunity agenda.” 4 The super PAC is aligned with U.S. Sen. Tim Scott (R-SC). 5

Larry Ellison, the billionaire co-founder of Oracle, is the chief known funder of Opportunity Matters Fund. 6 As of February 2022, Ellison had given about $20 million in donations to the Opportunity Matters Fund. 7 Ellison has a net worth of $93.3 billion. The Bloomberg Billionaires Index ranked him as the world’s ninth-wealthiest person. 8

Policy Advocacy

The Opportunity Matters Fund focuses on education choice, economic freedom, and equal opportunity. 9

The organization says it wants to end generational poverty by teaching financial literacy, providing apprenticeships for students, expanding education options, and increasing government spending on opportunity zones. 10

Donors

About 75 percent of the funding for Opportunity Matters Fund comes from Larry Ellison. 11 Casino billionaire Steve Wynn is the second-largest donor to Opportunity Matters Fund, Politico reported, having given $1 million. 12

South Carolina businessman Ben Navarro and wife Kelly Navarro contributed $500,000 to the fund, and described Senator Scott as a “long-time friend.” 13

Other billionaire donors to the fund have been Apollo private equity CEO Marc Rowan, New Balance chairman Jim Davis, and former Tennessee Gov. Bill Haslam (R). 14

Kenny Troutt, a Dallas-based telecommunications company founder and owner of a Kentucky Derby-winning horse gave $50,000 to Opportunity Matters Fund. Jeff Yass, a suburban Philadelphia-based options trader, gave $30,000 to the fund. 15

Opportunity Matters Fund has also drawn money from major conservative donor Richard Gaby, a donor to former President Donald Trump and Rep. Marjorie Taylor Greene (R-GA), as well as Dan Loeb, a financier of LGBT-interest initiatives. 16

References

  1. Isenstadt, Alex. “GOP megadonors flock to Tim Scott, building 2024 buzz.” August 9, 2021. Accessed February 25, 2022. https://www.politico.com/news/2021/08/09/tim-scott-mega-millions-fundraising-502764
  2. Poritz, Isaiah. “Mega donors start funding outside groups to influence 2022.” OpenSecrets.org (Center for Responsive Politics). November 3, 2021. Accessed February 25, 2022. https://www.opensecrets.org/news/2021/11/mega-donors-start-funding-outside-groups-to-influence-2022/
  3. “About.” Opportunity Matters Fund. Accessed February 25, 2022. https://opportunitymattersfund.org/about
  4.  “About.” Opportunity Matters Fund. Accessed February 25, 2022. https://opportunitymattersfund.org/about
  5. Isenstadt, Alex. “GOP megadonors flock to Tim Scott, building 2024 buzz.” August 9, 2021. Accessed February 25, 2022. https://www.politico.com/news/2021/08/09/tim-scott-mega-millions-fundraising-502764
  6. [1] Poritz, Isaiah. “Mega donors start funding outside groups to influence 2022.” OpenSecrets.org (Center for Responsive Politics). November 3, 2021. Accessed February 25, 2022. https://www.opensecrets.org/news/2021/11/mega-donors-start-funding-outside-groups-to-influence-2022/
  7. Tindera, Michela. “Billionaire Larry Ellison Makes His Largest Political Donation On Record.” Forbes. February 21, 2022. Accessed February 26, 2022. https://www.forbes.com/sites/michelatindera/2022/02/21/billionaire-larry-ellison-makes-his-largest-political-donation-on-record/?sh=56f81245c4cd
  8. Dean, Grace. “Oracle cofounder Larry Ellison recently donated $15 million to a super PAC aligned with Sen. Tim Scott.” Business Insider. February 21, 2022. Accessed February 26, 2022. https://www.businessinsider.com/larry-ellison-donated-super-pac-tim-scott-oracle-south-carolina-2022-2
  9. “About.” Opportunity Matters Fund. Accessed February 25, 2022. https://opportunitymattersfund.org/about
  10. “About.” Opportunity Matters Fund. Accessed February 25, 2022. https://opportunitymattersfund.org/about
  11.  [1] Isenstadt, Alex. “GOP megadonors flock to Tim Scott, building 2024 buzz.” August 9, 2021. Accessed February 25, 2022. https://www.politico.com/news/2021/08/09/tim-scott-mega-millions-fundraising-502764
  12. Isenstadt, Alex. “GOP megadonors flock to Tim Scott, building 2024 buzz.” August 9, 2021. Accessed February 25, 2022. https://www.politico.com/news/2021/08/09/tim-scott-mega-millions-fundraising-502764
  13. Isenstadt, Alex. “GOP megadonors flock to Tim Scott, building 2024 buzz.” August 9, 2021. Accessed February 25, 2022. https://www.politico.com/news/2021/08/09/tim-scott-mega-millions-fundraising-502764
  14. [1] Tindera, Michela. “Billionaire Larry Ellison Makes His Largest Political Donation On Record.” Forbes. February 21, 2022. Accessed February 26, 2022. https://www.forbes.com/sites/michelatindera/2022/02/21/billionaire-larry-ellison-makes-his-largest-political-donation-on-record/?sh=56f81245c4cd
  15. Isenstadt, Alex. “GOP megadonors flock to Tim Scott, building 2024 buzz.” August 9, 2021. Accessed February 25, 2022. https://www.politico.com/news/2021/08/09/tim-scott-mega-millions-fundraising-502764
  16. Isenstadt, Alex. “GOP megadonors flock to Tim Scott, building 2024 buzz.” August 9, 2021. Accessed February 25, 2022. https://www.politico.com/news/2021/08/09/tim-scott-mega-millions-fundraising-502764
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