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RANK

IN
1998

DONOR NAME

INDUSTRY

TOTAL
CONTRIBUTIONS

 

PARTY

                       
 

25

 

 

Kenneth A. Eldred (with Roberta E.)
Founder, Ariba, Inc., Portola Valley, CA

 

Finance

 

$617,500

 


Kenneth A. Eldred (with Roberta E.)
March 5, 2001

"To begin with, I'm a Christian," Kenneth Eldred told Mother Jones. "My wife and I have both been concerned with where we are headed as a nation. We looked at George Bush as someone who could reestablish the values of our nation."

Some $617,500 in campaign contributions later, Eldred's hopes will be put the test with Bush in the White House and Republicans controlling both the House and Senate. Whatever access he receives, Eldred says he will not ask for any business favors from Bush. "If there is one thing I can tell you, I have no financial interest in this man being president," he says.

Many of Eldred's financial interests reside overseas, where they double as missionary projects. Eldred has set up half a dozen information technology companies around the world, including a telemarketing firm with an American Express contract in India and a business-to-business company with close ties to the Communist government in China. Eldred hopes to use the profits to modernize foreign economies -- and to spread the gospel to foreign citizens.

"We're trying to push them into the new economy," he says. "We're sort of sneaking our way up the tiger's tale."

Eldred has similarly strong opinions about domestic affairs. He supports school vouchers, sees abortion as "the most heinous crime in our nation," and believes the United States must maintain a stronger military to counter foreign threats.

Eldred entered Silicon Valley at a time few knew it existed. In 1976, he founded a direct-mail computer marketer called Inmac. By 1988, the company boasted 2 million catalog customers who provided $165 million in annual revenues. In 1996, Micro Warehouse acquired Inmac for an estimated $126 million.

That same year, Eldred helped found Ariba, Inc., a business-to-business software company. The firm recently enjoyed a brief but meteoric ride on the stock market, gaining 800 percent on top of two stock splits in less than a year. The stock has since fallen -- but not before Eldred sold the investments held by his charitable trust, The Living Stones Foundation, which he also deploys in the name of Christian causes.

-- Michael Scherer

 
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THE FINANCE INDUSTRY
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The top contributors in this industry are:
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