Skip to main content
  1. News
  2. Top News

Koch brothers: Senior group goes rogue on political ad with Koch brothers' money

See also

The Koch brothers were not informed that a seniors’ group - which has received about $16 million from the Koch brothers - was going to run ads this week. The group, according to a Yahoo! News report on Thursday, is the 60 Plus Association, and the ads are against seven members of the Senate Banking Committee.

Best United States Cities to Start a Business

The conservative billionaires – the Koch brothers – are the head of the Freedom Partners which often spend millions of dollars to help their conservative allies. It is reported that the Freedom Partners does not have a day-to-day voice in its umbrella organizations’ actions. This causes a conflict – or contradiction of sorts – in messages sent from the Koch brothers and the huge number of organizations it finances.

In the case reported on Thursday, the 60 Plus Association spent $1.5 million in ads designed to demolish Freddie Mac and Fannie Mae – the financial mortgage companies.

Specifically, the ads by the seniors group urge committee members to not bring Obamacare to the mortgage industry. The senators in the committee are four Republicans and three Democrats. Reportedly, the Koch brothers’ political advisers are frustrated by the advertisement. Yet, a 60 Plus Association spokesperson said that the organization does not consult any of its donors – including the Koch brothers’ Freedom Partners – concerning the ads they run.

According to Forbes magazine, the Koch brothers are tied at number 6 on the list of the world’s richest people. They are worth some $40 billion after inheriting a small Wichita, Kansas-based oil company from their father. The brothers expanded the operation worldwide into chemicals, textiles, paper and other products.

Advertisement