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3 Stocks to Buy Ahead of the Election (No Matter Who Wins)
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It wasn't the first time he had looked at the election landscape with undisguised glee.
In CBS's earnings report the previous quarter, he told shareholders how "The 2016 election is right around the corner, and thank God, the rancor has already begun!"
Vince Sadusky, CEO of Media General, told investors in a conference all how he couldn't wait for the election where political spending "could pass $5 billion on the presidency alone."
And Peter Liguoiri, the CEO of Tribune Company, reveled at a conference hosted by JPMorgan over how his media empire would bring in up to $200 million from political ads that year, $85 million more than the last cycle.
To hear them tell it, 2016 was the election of a lifetime. But they had no idea how good their companies would have it in 2020.
One broadcasting company, Meredith Corporation, saw its stock surge more than 1,900% since January 2010, when the Supreme Court ruled that corporations and labor unions could spend unlimited amounts on US elections.
The ruling put America one step closer to oligarchy by allowing the rich and powerful even greater influence in elections. One casino owner, Sheldon Adelson, donated $100 million to Trump and Republicans this year alone. On the Democratic side, billionaire Tom Steyer spent $123 million to help Democratic candidates in 2022's midterm (non-presidential) elections.
And these estimates came before Elon Musk's July decision to donate $45 million per month to a Trump supporting political action committee... or Vice President Harris' record $83 million in contributions coming 24 hours after President Biden announced he would leave the race.
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