Inside Philanthropy: Billionaires Buying Political Support for Charter Schools, or, Democracy for Sale
The veil is beginning to fall away from the billionaire-funded charter activity. There are no grassroots in this billionaire-driven “movement.” It is all about money. Without the billionaires’ money, the demand and the supply would dry up.
Inside Philanthropy looks at the funding behind Marshall Tuck, and the article assumes he has won. But millions of votes remain uncounted in California and the contest is not yet decided. At last count, the candidates were less than one percentage point apart. We will have to wait to see who wins the contest between Big Money and teachers.
On the eve of the election, spending for this election had risen to $50 million. The total is likely to be even higher when final reporting is in.
The apparent winner of the contest, Marshall Tuck, is the former president of Green Dot, a charter school network. He wants to expand charters in a state that already leads the nation in the number of such schools. The other candidate, Tony Thurmond, argued for putting the brakes on charters to address issues of transparency and accountability.
Tuck ran unsuccessfully for the same office in 2014 in a race that cost $30 million. In both cases, Tuck outspent his opponent. This year, his campaign had raised $28.5 million by election day.
The money has come from a who’s who of charter school backers and K-12 philanthropists, including Eli Broad, Reed Hastings, Lynn Schusterman, Julian Robertson, Laurene Powell Jobs, Laura and John Arnold, Dan Loeb, Michael Bloomberg and his daughter Emma, and three Waltons: Carrie Walton Penner, Alice Walton, and Jim Walton.
Among Tuck’s biggest backers was Helen Schwab, wife of the finance billionaire Charles Schwab, who gave $2 million to EdVoice for the Kids PAC, which managed independent campaign committees for Tuck; Arthur Rock, the venture capitalist, gave $3 million to EdVoice, while Doris Fisher gave over $3 million. Along with the Schwabs, Fisher has been a huge Continue reading: Inside Philanthropy: Billionaires Buying Political Support for Charter Schools, or, Democracy for Sale | Diane Ravitch's blog
