You know why Barack Obama is having problems executing his agenda?
Rapper Kanye West told 105.1 FM radio in New York City earlier this week that it’s because “Black people don't have the same level of connections as Jewish people” (video follows with transcript and commentary):
KANYE WEST: We don’t got it like that. When I tell you only seven black billionaires, look at marginalization, and we feel like we happy because me and Rick Ross got it made, or I got a spread outside, a couple of us, or they put a black president.
Man, let me tell you something about George Bush and oil money and Obama and no money. People want to say Obama can't make these moves or he's not executing. That's because he ain't got those connections. Black people don't have the same level of connections as Jewish people. Black people don't have the same connection as oil people.
You know we don't know nobody that got a nice house. You know we don’t know nobody with paper like that we can go to when we down. You know they can just put us back or put us in a corporation. You know we ain’t in situation. Can you guarantee that your daughter can get a job at this radio station? But if you own this radio station, you could guarantee that. That’s what I’m talking about.
I'm not sure what connections in the business world have to do with executing as president once you're in office, do you?
Frankly, I think Obama's failures have more to do with the fact that he never was in the business world and never ran anything.
That said, I guess West wasn't aware that in the 2012 campaign, Obama's connections helped him raise and spend more money than Mitt Romney.
Forbes reported in October 2012 about Obama's top backers:
James Simons: $4.1 million
The hedge fund ‘quant king’ is the biggest billionaire donor to the left, giving $2 million to Obama-backing super PAC Priorities USA Action as well as supporting left-leaning Majority PAC and House Majority PAC.
- Irwin Jacobs : $2.1 million
The retired head of chip manufacturer Qualcomm also cut a $2 million check to Priorities USA Action, the super PAC backing Obama’s reelection.
- Jon Stryker: $2 million
Medical device heir, like Jacobs and Simons, pitched in $2 million to Priorities USA Action. He’s also a longtime donor to LGBT causes.
- Anne Cox Chambers: $1.6 million
The 92-year-old Cox Enterprises TV billionaire backed Obama supporters Priorities USA Action.
- George Soros: $1.275 million
The legendary investor hasn’t supported Obama directly, but he’s contributed to left-leaning groups Majority PAC, House Majority PAC, and American Bridge 21st Century.
- Haim Saban: $1 million
The Mighty Morphin Power Rangers mogul has divided his donation between C Priorities USA Action and left-leaning Majority PAC and House Majority PAC.
The following are Obama For America’s top billionaire ‘bundlers’, who’ve fundraised from their wealthy networks rather than given directly to any super PAC or other outside group. Obama’s campaign team provides a range rather than actual numbers.
- David Shaw, New York hedge funder: $500k+
- James Crown, of the Henry Crown dynasty of investors: $500k+
- Marc Lasry, New York hedge funder: $500k+
- Marc Benioff, founder of Salesforce.com: $500k+
- Penny Pritzker, business executive and Hyatt hotel heiress: $200k-$500k
As for George W. Bush, his net worth is estimated to be $35 million. West's is $100 million.
Makes you sorry for him, doesn't it?
