Who is bankrolling Kentucky's governor race? Big players include an out-of-state billionaire

The first campaign finance deadline of the general election in Kentucky's race for governor passed Tuesday, showing Democratic Gov. Andy Beshear sprinting to a large fundraising lead over Republican challenger Daniel Cameron — though outside partisan PACs are on pace to far exceed the candidates' spending.

Beshear's campaign has already spent more than $11 million of its haul since the May primary — seven times that of Cameron — while an array of Democratic and Republican political committees are poised to spend up to $30 million through Election Day, mostly on TV attack ads.

Most of this spending has come from the affiliated PACs of the Democratic Governors Association and Republican Governors Association — two 527 groups that can accept contributions of unlimited size from individuals, companies and organizations.

These DGA and RGA-led PACs have purchased and reserved more than $20 million of air time, while several other PACs supporting Cameron have collectively spent more than $5 million on ads, including Bluegrass Freedom Action, Protect Freedom PAC and School Freedom Fund.

Also coming to the aid of Beshear in the general election is Kentucky Family Values, a field organizing PAC that has raised $500,000 and is expected to increase spending on a Democratic ground game through November.

Here's a closer look at four of the big players who are bankrolling general election spending in Kentucky's race for governor through millions of dollars of contributions to candidates and PACs — a dark money group and Pennsylvania billionaire assisting Cameron, as well as unions and attorneys coming to the aid of Beshear.

The Concord Fund

The largest funder of the PAC that pushed Cameron to victory in the Republican primary this May has returned to fill the coffers of the same PAC with another $1 million for the general election — just don't expect to know the name of any specific individual who coughed up money for the cause.

The Concord Fund, a conservative "dark money" 501(c)4 nonprofit that does not have to reveal the identity of its funders, contributed $2.25 million in the primary to Bluegrass Freedom Action, a PAC that spent roughly $3 million in total to cut down Kelly Craft, one of Cameron's top GOP rivals.

The Concord Fund returned this summer to contribute another $1 million to Bluegrass Freedom Action, with the PAC spending $1.4 million so far in the general election on TV ads criticizing Beshear.

The conservative nonprofit also contributed $500,000 earlier this year to the RGA, the Republican 527 group entirely funding several PACs that have already aired more than $6 million of attacks ad against Beshear in the general election.

Formerly known as the Judicial Crisis Network, the IRS filing of the Concord Group states that its mission is to "promote the vision of liberty and justice in America, fidelity to the principles of federalism and the rule of law."

Over the past two decades, the secretive group focused its spending on reshaping the federal judiciary in a conservative direction, but it has branched out to more races on the local level in recent years — boosted by at least $45 million from the Marble Freedom Trust, another dark money nonprofit run by conservative activist Leonard Leo.

Unions (especially teachers unions)

In Beshear's narrow victory over former Gov. Matt Bevin in 2019, the political action committees of unions came through for him in a big way with more than $3 million of contributions to supportive PACs — and they appear well on their way to doing so again.

Teacher unions have led the fundraising charge for Beshear in the general election, with the PACs of the Kentucky Education Association and Jefferson County Teachers Association each contributing $200,000 so far to Kentucky Family Values for their field operation.

The National Education Association also contributed $500,000 to Defending Bluegrass Values, the DGA-led PAC that has already purchased or reserved nearly $14 million of TV ad space. The NEA also contributed $125,000 to the DGA just after the May primary.

Teachers were the main part of Beshear's victory coalition in 2019, and his campaign hopes to tap into the same energy in his race against Cameron.

Other types of labor unions have also kicked in more than $1 million for Beshear, with plumber, pipefitter and electrical worker unions giving nearly that amount to Defending Bluegrass Values.

The United Auto Workers and Communications Workers of America also gave nearly $100,000 to Kentucky Family Values, while unions for electrical, food and commercial workers combined to direct $550,000 to the DGA this June.

Jeff Yass

The Pennsylvania billionaire who is the top political benefactor of Kentucky Sen. Rand Paul is making another play in the Bluegrass State this year, but this time in an effort to help Republicans take the governor's mansion.

Jeff Yass is the owner of Philadelphia-based global investment and trading firm Susquehanna International Group, having amassed much of his $33 billion fortune through being an early investor in the TikTok social media app.

Known for having the same libertarian-leaning views as Kentucky's junior senator, Yass contributed another $3 million this summer to the Paul-aligned Protect Freedom PAC, which has already aired $1.2 million of TV attack ads against Beshear.

Yass is also likely to be involved in the spending of School Freedom Fund, a Club for Growth-aligned PAC that Yass almost entirely funded in the 2022 election cycle, to the tune of $14 million. School Freedom Fund has spent nearly $3 million on TV ads hitting Beshear in the general election.

School choice was the top issue of School Freedom Fund when it ran ads in congressional races across the country in the 2022 election, which is also an issue on which Yass is outspoken.

Attorneys (especially Morgan & Morgan)

After raising more than $800,000 from attorneys by the May primary, the campaign of Beshear once again tapped into the legal profession for funding, receiving more than $660,000 in contributions from lawyers over the summer.

The largest source was national law firm Morgan and Morgan, with its employees giving Beshear's campaign $121,000. This total was far more than any other private employer gave either candidate during the general election, nearly doubling what Churchill Downs employees contributed to the governor's campaign since May.

Attorneys also contributed more than $300,000 in the first half of 2023 to the Kentucky Democratic Party, which transferred $3 million to Beshear's campaign this week. Of those funds, $80,000 were from attorneys with Morgan and Morgan.

Morgan and Morgan also made a $250,000 contribution to the DGA earlier this year, with several other law firms with ties to Kentucky also collectively giving the Democratic 527 group $30,000.

The general election filing this week of Attorney General Daniel Cameron showed his campaign raised more than $180,000 from attorneys since the May primary.

More: Beshear significantly outraising, outspending Cameron in Kentucky governor race. Here's how

Reach reporter Joe Sonka at jsonka@courierjournal.com and follow him on Twitter at @joesonka.

This article originally appeared on Louisville Courier Journal: Teacher unions, Jeff Yass among big funders of Kentucky governor race