New Conservative Nonprofit Receives Record $1.6 Billion Donation To Help GOP Candidates

A new conservative nonprofit group set to help Republicans win races in the upcoming midterm elections has received a record donation of $1.6 billion, according to reporting by Fox News. The massive donation could give the GOP and conservative activism a tremendous financial boost for years.

The new organization is named the Marble Freedom Trust and is headed up by Leonard Leo, a high-powered conservative activist who has served in a leadership role with the Federalist Society. His previous activism has focused on issues including pro-life policy and Supreme Court nominations.

The record donation was made by Barre Seid, who made his fortune in electronics manufacturing.

Seid is a low-profile billionaire who has served as chairman and CEO of Tripp Lite, a device manufacturing firm headquartered in Chicago. The donation was accomplished by Seid’s donation of his shares in Tripp Lite to the nonprofit group before the company was sold to a financial conglomerate from Ireland.

The Marble Freedom Trust received the proceeds for the sale, topping the $1.5 billion spent by the top 15 Democrat-aligned political groups in 2020. By comparison, the top 15 Republican-aligned nonprofit groups spent only $900 million in 2020.

The Marble Freedom Trust could push conservative nonprofit spending above the amount spent by leftist organizations all on its own.

The Marble Freedom Trust was formed in May 2020 and the donation by Seid of his shares in Tripp Lite was made last year. The trust’s creation and the hiring of Leo have only now been publicized as the midterm election cycle is swinging into full gear.

The trust’s mission statement supporting its nonprofit status says that it exists to “maintain and expand human freedom consistent with the values and ideals set forth in the Declaration of Independence and the Constitution of the United States.”

The name of the trust signals the organization’s intent to be as enduring as marble and to maintain its clarity of purpose.

Fox News cited reporting by the New York Times that quoted Leo as saying that it is “high time for the conservative movement to be among the ranks of George Soros, Hansjörg Wyss, Arabella Advisors, and other left-wing philanthropists, going toe-to-toe in the fight to defend our constitution and its ideals.”