Republican presidential candidate Ted Cruz at a Republican Party reception in Durango, Iowa. (AP Photo/Telegraph Herald, Nicki Kohl)
A Texas billionaire who moved his residence to Puerto Rico after its island government carved out a lucrative new tax haven for wealthy U.S. investors is a prime fundraiser for a network of super-PACs backing Texas Sen. Ted Cruz for president, according to sources close to Cruz’s campaign.
Toby Neugebauer, the co-founder of Quantum Energy Partners, a Houston-based private equity firm, and the son of a Texas congressman, is playing a key role as donor and fundraiser for an unusual super-PAC arrangement that grabbed attention in political circles this week for raking in $31 million within a few days of being formed — an unprecedented haul for a new presidential candidate, the sources said.
In papers filed with the Federal Election Commission early this week, and first reported by Bloomberg, four separate super-PACs — all with variations on the name “Keep the Promise” — were registered to back Cruz’s candidacy. “The PACs will operate as a single team with one ultimate goal,” Dathan Voelter, an Austin lawyer who registered three of the committees and listed himself as their treasurer, told Yahoo News in an email.