U.S. presidential candidate Hillary Clinton was also a favorite of the arms producing giants during her 2006 senate campaign.
Hillary Clinton has received more money from arms and military service companies than any other candidate during the 2016 presidential campaign, data from Open Secrets shows.
All but one of the world’s 10 biggest arms producers have contributed to Clinton’s previous campaigns, giving her — along with the top Republican receiver Ted Cruz — a significant margin over the other candidates.
The numbers, collected by the Federal Election Commission and compiled by Open Secrets, also reveal that Rand Paul and Bernie Sanders make the list of top 20 senators and top six presidential candidates to receive money from arms and defense companies.
Most of the funding is channeled through Political Action Committees, which have no limits to how much they donate. About 18 percent comes from individual contributions, totaling almost US$10 million between all of the companies.
The biggest donors — Lockheed Martin, Northrop Grumman and Boeing — devote about a third of their funds to Democrat candidates. In the last presidential elections, Barack Obama won more funding than his contender John McCain, though McCain is the top-earning senator this year.
A report released Sunday by the Stockholm International Peace Research Institute showed that while U.S. arms sales have slowed, U.S.-based Lockheed Martin’s profits soared in 2014. Overall sales rose steadily until the financial crisis of 2008, when they mostly stabilized.
Sunday’s report also indicates that the U.S. accounts for a staggering 54 percent market share of the global arms market. The United Kingdom has the second largest market share, with 10.4 percent. Russia has a market share of 10.2 percent, while France has a market share of 5.6 percent.
The world’s top 10 arms companies are based in the U.S. and Western Europe, according to the report. Among these are Lockheed Martin, Boeing and BAE Systems, who make up the top three companies in terms of global market share.
- Published in Specials