Glenn Youngkin, the former private equity co-CEO who won yesterday’s race to become governor of Virginia, knows a lot of billionaires. As a longtime Carlyle Group employee, he worked for three of them. He has served on a board with at least two others. And he has likely met many more through his years in business. None of them gave as much money to his gubernatorial bid as billionaire insurance tycoon Patrick Ryan.
Ryan, the CEO and founder of an insurance brokerage firm called Ryan Specialty Group, donated $250,000 with his wife Shirley Ryan on Monday, according to Virginia campaign finance filings. In an election year with more federal races, that wouldn’t qualify as much money for Ryan, who donated $16.2 million to support federal candidates in the 2020 cycle—enough to qualify as the 16th-largest billionaire donor in the country. But in an off-year, like 2021, $250,000 stands out.
In addition to the Youngkin donations, Ryan has put at least $830,000 toward the campaigns of federal candidates and causes this year. His largest federal donation this year went to pro-Republican committee Take Back The House 2022, which received $771,900. Ryan also made smaller contributions, with his wife, to Senator John Kennedy (R-La.), Representative Mike Gallagher (R-Wis.) and Republican Derrick Van Orden, who is running to represent Wisconsin’s third Congressional district in the House.