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Political Party/527

The Opportunity Matters Fund

Website:

https://opportunitymattersfund.org/
Location:

Beverly, Massachusetts 9

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 3

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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.” 3 The super PAC is aligned with U.S. Sen. Tim Scott (R-SC). 1

Larry Ellison, the billionaire co-founder of Oracle, is the chief known funder of Opportunity Matters Fund. 4 As of February 2022, Ellison had given about $20 million in donations to the Opportunity Matters Fund. 5 Ellison has a net worth of $93.3 billion. The Bloomberg Billionaires Index ranked him as the world’s ninth-wealthiest person. 6

Policy Advocacy

The Opportunity Matters Fund focuses on education choice, economic freedom, and equal opportunity. 3

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. 3

Donors

About 75 percent of the funding for Opportunity Matters Fund comes from Larry Ellison. 7 Casino billionaire Steve Wynn is the second-largest donor to Opportunity Matters Fund, Politico reported, having given $1 million. 1

South Carolina businessman Ben Navarro and wife Kelly Navarro contributed $500,000 to the fund, and described Senator Scott as a “long-time friend.” 1

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). 8

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. 1

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. 1

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. [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/
  5. 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
  6. 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
  7.  [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
  8. [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
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