Tech

JD Vance earns nearly $ 1 million for the Ohio Senate campaign

Venture capitalist and author of “Hillbilly Elegy” JD Vance will take a photo with his supporters after a rally in Middletown, Ohio on Thursday, July 1, 2021. Left by Rob Portman.

Jeff Dean | AP

Republican Ohio State Senator candidate JD Vance is an ally of billionaire technology investor Peter Thiel, an advocate of Trump-style conservative populism, and a million towards the start of the campaign. I earned nearly a dollar.

According to Vance’s financial information reviewed by CNBC, most of Vance’s revenue came from Tiel-backed venture capital firms, and royalties came from his best-selling memoir, Hill Billy Elegy. ..

A spokeswoman for the Vence campaign did not immediately return a request for comment on the newly released disclosure. Vance previously seemed to miss the 90-day extension to be submitted by October 29, but his spokeswoman previously suggested that he had another 30 days to comply with CNBC.

Vance spokeswoman Taylor Van Kirk told CNBC last month, “We are waiting for some articles to be added to the report. Once received, we will fully submit it within the 30 days stipulated in the rules.” Said.

Vance announced his candidacy this summer. He made the attack on Big Tech an important focus of the US Senate campaign vacated by Senator Rob Portman of R-Ohio. However, most of his income in the new disclosure report came from Facebook board members Thiel and other tech investor-related ventures.

Vance has raised over $ 400,000 from Ohio-based venture capital firm Narya Capital. According to Axios, the $ 93 million company is backed by Thiel and other major technology investors, Marc Andreessen, Eric Schhmidt and Scott Dorsey. Thiel has invested $ 10 million in Vance, a supporter of Super PAC. Vance once worked for an investment company called Mithril Capital, which was co-founded by Thiel.

Vance has earned over $ 125,000 from the Rise of the Rest Seed Fund, Washington, DC-based Revolution’s startup investment arm, founded by AOL co-founder Steve Case. Vance also received a salary of $ 125,000 from JD Vance Enterprises LLC. It aims to “manage and facilitate the talk, writing, and media appearances of policy analyst and commentator JD Vance,” according to Ohio’s business records.

Vence’s 2016 book, Hillbilly Elegy, which was featured in a Netflix movie last year, totaled just over $ 345,000.

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His new disclosure also includes investments in dozens of companies, including Anduril Industries, a defense technology company that has received millions of dollars in government contracts for many years.

Anduril was founded by Palmer Luckey, a former supporter of former President Donald Trump. According to Vence’s disclosure, an investment in corporate securities was worth $ 1,000 to $ 15,000, and he made little money from the investment. Bloomberg reports that Thiel is also an investor in Anduril.

Under his property, Vance lists Narya Capital. He seems to have made more than $ 1 million in revenue from the fund.

Vance also lists BTC, the abbreviation for Bitcoin, below his list of assets. His investment in BTC is valued between $ 100,000 and $ 250,000.Vance previously Blast Efforts to regulate cryptocurrencies. He also owns a stake in Wal-Mart for $ 50,000 to $ 100,000.

Vance is facing right-wing candidate Josh Mandel in particular for a Republican nomination in Ohio’s US Senate elections. US Congressman Tim Ryan, who ran for president in the 2020 primary, is one of the Democrats seeking a seat. Trump won the state in 2016 and 2020.



JD Vance earns nearly $ 1 million for the Ohio Senate campaign

Source link JD Vance earns nearly $ 1 million for the Ohio Senate campaign

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