Bloomberg donates to his own gun safety group to raise record revenue

  • Source: CNBC
  • by:
A gun safety group co-founded by presidential candidate Mike Bloomberg raised its most money ever in 2018, the year Democrats took back the House of Representatives — with much of it coming from the billionaire former New York mayor himself.

The organization, Everytown for Gun Safety Action Fund, brought in $69.5 million in total revenue last year, according to a new 990 tax return first reviewed by CNBC. That’s nearly double its revenue from 2017. The National Rifle Association, the biggest pro-gun lobby in the country, raised $352 million last year, meanwhile, representing only 12% revenue growth, its most recent disclosure form shows.

The 501(c)(4), which focuses on political initiatives, received $66 million of that total in grants and contributions. A source said $38 million of that — listed as an anonymous donation in the document — came from Bloomberg himself. Combined with their other nonprofit, Everytown for Gun Safety Support Fund, the organization as a whole raised over $106 million.

The source said Bloomberg, who earlier this week launched his bid for the 2020 Democratic presidential nomination, has accounted for about a third of the group’s total funding in recent years. Bloomberg has a net worth of just over $55 billion.
Source: CNBC

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