Hedge Fund Executives Join Joe Ricketts’ Super-Political Action Committee

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According to a U.S. Federal Election Commission report, two billionaire hedge fund executives have joined Ameritrade founder Joe Ricketts’ super-political action committee as it works to elect Republicans to the Senate and House, Bloomberg News has reported. John Joseph “Joe” Ricketts is the founder, former CEO and also the former chairman of TD Ameritrade, one of the largest online discount brokerages in the world, based in Omaha, Nebraska. In 2009, Joe Ricketts ranked #371, according to Forbes magazine, of the 400 wealthiest Americans, with a net worth of $1 billion.

The report filed shows that, president of New York-based Elliott Management, Paul Singer, wrote a check for $350,000 to the Ending Spending super-PAC, and Baupost Group, the Boston hedge fund run by Seth Klarman, gave $450,000. Ricketts, also a billionaire, contributed another $550,000, according to Bloomberg News. It has been reported that Todd Ricketts according to Chicago Business, has been trying to attract other donors to what had primarily been a family operation.

  

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Todd Ricketts, founder of The American Film Company, and his three siblings are majority owners of the Chicago Cubs. According to the Bloomberg Billionaires Index, the Ricketts family fortune from TD Ameritrade, an Omaha, Nebraska based online brokerage service, is valued at more than $3 billion. Bloomberg News has reported that representatives of Ending Spending did not immediately respond to a request for comment on the story.

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