Mother Jones 400
April 1996
10. (tie) Frank J. Fertitta Jr
Age: 58
State and Town Las Vegas, Nev.
Total Donated $271,500.
Party R
The founder of Station Casinos Inc., he now runs Fertitta Enterprises, the family investment firm, while his son, Frank III, heads the casinos. Fertitta and his son followed the industry trend of giving to Republicans (see also #373 Steve Wynn) rather than Democrats, after Clinton considered a 4 percent tax on gambling in 1994.
10. (tie) Stanley Druckenmiller
Age: 43
State and Town New York, N.Y.
Total Donated $271,500.
Party R
Managing director for Soros Fund Management, which specializes in hedge funds. A member of the Forbes 400 ($350 million net worth), Druckenmiller is like many investment managers who support the GOP plan to balance the budget at any cost, because it would decrease interest rates and boost bond markets. Druckenmiller so craves a balanced budget promise, he and Home Depot CEO Kenneth Langone (see #258), who chairs Invemed investment bank, took out an ad in the Washington Post that read: "Let's not allow fears of temporary 'market instability' to serve as an excuse" for not balancing the budget. The Republicans' plan to cut capital gains taxes also helps Druckenmiller, because it encourages the wealthy to invest in hedge funds.
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