Proposition 30: Molly and Charles Munger Spent $79.1 Million Battling Jerry Brown
For the past few months, multi-millionaire and Pasadena civil rights attorney Molly Munger has been a thorn in the side of Governor Jerry Brown -- Munger's Proposition 38 may act as a spoiler for Brown's Proposition 30. But the governor has also been battling another wealthy Munger -- Molly's brother, Charles T. Munger Jr.
Charles T. Munger Jr.
According to votersedge.org, Charles has spent an eye-popping $35 million on the No on 30 campaign to defeat Brown's tax-hike initiative. Like Molly, he's spending all his own money -- their father is billionaire investor Charles T. Munger, who's business partners with billionaire Warren Buffett.
Molly contributed $44.1 million to the Proposition 38 campaign, which seeks to raise state income taxes to better fund K-12 public schools. If you total it up, the Mungers spent $79.1 million on campaigns that directly impacted Brown's ballot measure. Whoa!
Brown had a bountiful campaign war chest as well -- the Yes on 30 campaign raised, according to votersedge.org, $69.5 million.
The California Teachers Association, the Service Employees International Union, the Democratic State Central Committee of California, the American Federation of Teachers, and the Coca-Cola company were the top contributors to the Yes on 30 campaign.
But all those unions with thousands of members and a worldwide soda company couldn't raise more than two very wealthy Californians -- Molly is politically liberal while her brother is a conservative.
With that $79.1 million spent on rival campaigns - which pays for TV ads, voter outreach, etc. -- it's no wonder Brown's Proposition 30 has been steadily dropping in the polls.
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