Jon S. Corzine (with Joanne) March 5, 2001 Jon Corzine built his fortune as CEO of Goldman Sachs, making a reported $234 million the day he took the New York brokerage house public in January 1999. After being pushed out of the firm by partners who disapproved of the public offering, Corzine launched his bid for the U.S. Senate. His campaign coffers were soon stuffed with $65 million, most of it from his own accounts. On Election Day alone Corzine spent a reported $3 million -- or $20 per vote cast -- more than doubling the previous campaign spending record set by Michael Huffington in his failed Senate race in 1994. Corzine played up his small-town roots, noting that he took his first job at 13, worked his way through school, and has been married to his childhood sweetheart for more than 30 years. And he ran on a staunchly liberal platform, advocating preschool for all children, gun registration, college scholarships, and better health insurance. But Corzine wielded his personal wealth with all the expertise of a four-term incumbent versed in the art of political favors. According to the Associated Press, the Jon and Joanne Corzine Foundation handed out more than half of all its contributions to New Jersey charities during the campaign -- an increase of more than 50 percent. Corzine also made donations to black churches and local politicians who endorsed his candidacy, including Marty Barnes, the Republican mayor of Paterson. Corzine tried to keep the contributions secret, and denied any connection between his charitable gifts and the election. But political pressure finally forced him to reveal the recipients of his largesse. All told, according to the New York Times, Corzine gave more then $100,000 to groups whose leaders or sponsors later endorsed him. -- Helene Blatter | |