A Mixed Verdict For Millionaires On Primary Day

Aug. 11, 2010 — -- Tuesday was a pretty good day for self-funded political candidates, as two out of three big-spending millionaires won primaries in Connecticut, and a battle of deep-pocketed Democrats in Minnesota ended with department-store heir Mark Dayton declaring victory. But in a sign that cash can't guarantee victory, several millionaires wound up with lighter wallets and no nomination yesterday, and a Tea Party insurgent in Colorado rode small donations to victory over a better-funded establishment candidate.

The days' big winner was Connecticut senatorial hopeful and former wrestling exec Linda McMahon, who burned through $22 million on her way to an easy Republican primary victory – or nearly $400 for every vote -- and has vowed to spend another $30 million to beat Democrat Richard Blumenthal in November. Also in Connecticut, former ambassador Thomas Foley won a narrow victory in the GOP gubernatorial primary after loaning his own campaign $3 million.

Greenwich cable entrepreneur Ned Lamont, however, dropped $9 million in a losing bid for the Democratic gubernatorial nod. Connecticut electoral laws aided his opponent, Daniel Malloy, allowing him to draw on state funds to close the funding gap with Lamont; the same laws aided Fedele, who came within five points of Tom Foley in the Republican contest. Ned Lamont has now spent $26 million of his personal fortune running for public office without securing one, having used $17 million on an unsuccessful bid to unseat Sen. Joe Lieberman in 2006.

In Minnesota, meanwhile, the self-funder who spent the least triumphed. Mark Dayton, Hudson department-store heir and former Senator, spent $3 million on a largely self-financed campaign to win the Democratic primary for governor. But Dayton won by only a point over the underfunded Margaret Kelliher, and lawyer Matt Entenza spent $4.5 million of his own money to come in a distant third.