Personal Finance Advice and Commentary

Sunday, March 25, 2012 2:57 pm
By Judy Martel · Bankrate.com

One Texas billionaire really wants President Obama to lose the election. And he’s putting part of his considerable fortune to work to try to make that happen by donating millions to super political action committees, or PACs.

Harold Clark Simmons, whose net worth is estimated at $10 billion, doesn’t state a preference for a particular Republican candidate. He just wants a Republican president and a GOP majority in the House and Senate. In a profile in the Wall Street Journal, he called Obama a socialist and says Republicans will rescue the economy from the current president’s agenda. He’s in favor of business deregulation and tax reform.