DENVER — As Denver’s elections for mayor and city council end, the results of a new campaign finance system are clear: Big money still ruled the race.

The Fair Elections Fund was designed to even the playing field by helping more diverse candidates enter the race without major financial support. Denver taxpayers spent more than $7.5 million to bolster the campaigns of candidates who agreed only to accept small donations.

But big money flowed into the elections anyway.

Outside of the official campaigns, groups known as Independent Expenditure Committees spent almost $9 million on the elections.

Most of that – nearly $5 million – supported Mike Johnston's successful run for mayor. Johnston’s outside support came almost entirely from millionaires and billionaires in states like California and New York.

Reid Hoffman, a Silicon Valley venture capitalist who cofounded LinkedIn, spent nearly $2 million to help Johnston win.

Michael Bloomberg, the former New York city mayor and billionaire, spent $500,000.

And another $450,000 came from a millionaire in Denver: Kent Thiry, the former board chairman for dialysis provider DaVita.

Kelly Brough, who lost against Johnston, didn’t pull in nearly as much money. She had about $1.5 million in outside support, mainly from the world of real estate.

The Illinois-based National Association of Realtors Fund, the country’s largest trade association, bolstered Brough with more than $470,000. That’s one-third of all Brough’s outside support.

...

Read Full Story: https://news.google.com/rss/articles/CBMibmh0dHBzOi8vd3d3LmRlbnZlcjcuY29tL25l...