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Republican Jefferson Shreve has put $13.5 million of his personal wealth into his Indianapolis mayoral campaign, in what will be the most expensive election in the city’s history.
The candidate has self-funded 93%, or all but $930,000, of the $14.45 million reported since he joined the race in February. The campaign has spent a total of $11.3 million, and ends the reporting period of April 8 -Oct. 13 with $3.1 million cash on hand.
The Hogsett campaign declined to provide finance figures ahead of Friday’s noon deadline to publicly post reports. The candidate raised $4.2 million in the last reporting period that ran from January to April 7.
Shreve, a businessman and former City-County Council member, told IBJ in February that he would self-fund part of his campaign.
“The reality is time is short. And I’ve got to mount a vigorous campaign,” Shreve said. “And so I’ll provide the seed capital to get it off the ground.”
Shreve didn’t say how much of his personal wealth he might be willing to devote to his mayoral run. In an April interview, the candidate reiterated his intention to self-fund.
“I am personally invested in this proposition, because I believe in it,” Shreve said.
Shreve’s hefty investment places the race in the range of less-competitive races for U.S. Senate.
Last year, incumbent Republican U.S. Sen. Todd Young raised $14.5 million to handily defeat Democrat Tom McDermott, who had raised just $1.1 million. In the competitive 2018 race between Republican U.S. Sen. Mike Braun and Democrat Joe Donnelly, outside donations and Braun’s personal wealth contributed to a hefty total of nearly $40 million raised.
Shreve’s wealth stems partially from the company he founded, Storage Express, which he sold last year for $590 million.
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Paying too much money for a poorly managed campaign. What a waste.
It would be great to hear your metrics for campaign managment. Jefferson had almost zero name recognition when he filed earlier this year and now has name recognition comporable to Hogsett. He has cut Hogsett’s lead in half over the last five months and there are enough undecideds that he has a clear path to victory. Joe on the other hand started with a commercial filled with lies, his fourth divorce is fresh on the mind of many voters, for weeks he was absent which is similar to his response to the May 2020 riots. Indy deserves better, it is time for a change.
It’s been established the only people who think Hogsett was absent after the riots are people who listen to WIBC.
Absolutely correct Joe. Hogsett was there on the spot, saying “We hear your pain”, encouraging them to come back to riot the next night. And they did.
Yeah, Lauren, he even got on Twitter ahead of time to invite them there and promise a wild time, then showed up himself and told them to march to the Capitol and fight like hell or they weren’t going to have a country anymore. Then some of them, waving flags bearing his name, beat the cops with the poles and sprayed them with bear repellent.
Oops, sorry…I got mixed up. Wrong riot, wrong “leader”.
Can you image what that money could have done for the community, if spent wisely?
Right? If he cares so much about Indianapolis as he wants us to believe why not donate those funds for something productive? He’s suddenly concerned about animal care and mental health services (because he’ll clearly say anything to get elected) so perhaps some of his money could have been donated to those causes rather than political consultants and media buys.
You are right David, it could have an impact in many areas of Indianapolis. However, Jefferson beleives that leading Indianapolis has the potential to have billions of dollars of impact. He is focused on growing Indianapolis’ GDP. It is already the biggest in the state but it is not growing under Joe. Furthermore, Joe has mismanaged public safety, the animal shelter, the homelessness challenge and many other critical city matters. Jefferson will improve all of those and the city will be better off. And Jefferson is a different kind of republican. He is helping take the party back in ways that will help move it forward on national level! Joe had eight years and he has failed, it is time for a change!
Wait until you hear about how we just added double that to the IMPD budget… for pay and armored trucks
The paltry fund raising besides own personal wealth shows that local establishment Republicans don’t believe in his campaign.
True. The rich candidates figure if they win then they’ll get donors interested in buying influence (as all donations are, frankly), and the campaign can then repay the loan. If he loses, it’s chump change to him.
There are numerous republicans that believe. Jefferson has a different approach to this election. He is friend raising rather than fundraising. He is not like many politicians that spend more time asking for money than they do listening to understand what will earn a person’s vote. He and his wife have given up most days and nights over the last five months canvasing the community, getting to know people and listenting to their ideas. And Robert F., yet again you are spouting off without facts! The Shreve’s have donated significant dollars in to the community. Dollars that are having an impact. Animal wellness matters have been a prominent topic for the Shreve’s for decades. When Jefferson discovered Hogsett so badly mismanaged the new animal shelter project, he identified yet again where Mayor Joe has failed us. It is time for change! Mayor Joe had eight years and failed on so many fronts! We need a leader. We need Jefferson Shreve.
We need statehouse Republicans who represent Marion County to not waste their legislative time trying to undo whatever the Indianapolis mayor and CCC try to do.
I beat the drum repeatedly, but it starts and ends with roads. They sit on their hands while our gas tax money gets stolen and sent to places in Indiana where no one wants to live. My legislator tries to claim it’s a complex issue. Its not complex at all.
When Statehouse Republicans representing Marion County decide to do more than technical fixes, I’ll believe that Republicans believe in Indianapolis. Right now they believe it’s a piggy bank to be raided.
When wealth buys control of government that is an oligarchy which leads to Autocracy .
Charles, interesting try. In your theory decades of wealthy politicians would have the US as an autocracy. No in fact your opinion has been proven wrong through decades of elections. Further the Indy system creates a nice balance of power. The council has to approve the mayor’s budget and so many other commissions/committees control what can be done in the city. But the city does have a Mayor that charts the course and operates as the CEO of the city. Mayor Joe has had eight years and has failed as our city’s CEO – we are one of the worst cities when you measure post covid recovery – bottom of the list. Our homeless population stands at the same level as when Mayor Joe entered the Mayor’s office – zero progress on helping some of the most vulnerable. Further our total population has declined while counties around us are growing at some of the fastest rates in the country. These are just a few reasons it is time for a change!
No doubt, Shreve might be the last best hope to rescue Indy from the abyss of horrible Democrat leadership but so many Republicans have left Marion County that the demographics are such that no Republican can win again in Marion County.
An “abyss” that has presented balanced bipartisan budgets seven straight years. With record amounts for safety and public infrastructure each time.
John, do you even live in Indianapolis?
Big Dummy activities. Wrong City! Head to the Southern states weirdo.
I question why Joe is even running again. Unlike our last five mayors from Lugar to Ballard, he does not seem to enjoy and definitely does not embrace the job.
Shreve is smart, wants to put Indianapolis back on track and unlike Joe originally, he is not seeking the office as a stepping stone to higher political aspirations.
Time for a change.
Rick…it would be great if passed balanced budgets were the solution. Hogsett is great getting budgets passed but that is where is success ends. Indianapolis has enough money but we do not have a mayor that knows how to effectively invest the dollars. Plenty of public safety $$ but yet we are down in numbers of police officers. Homicides were lower prior to Joe and the homicide solve rate was over 80%. Homicides are up and the solve rate is down to a dismal 32%. Joe’s inability does not stop there. The animal shelter crisis in this city is deplorable. Joe has had years to address it and plenty of money but his mismanagement is the problem and so animals are suffering every day. And these are just a few of the failures. Rick…Joe has had eight years…he has failed. It is time for a change! We deserve it.
I see “Jefferson’s” cheerleaders are out in force today. He’s a schlub
Greg Ballard was the definition of schlub. Yet still came across as a decisive and visionary leader compared to his successor. I mean, compare downtown Indy today with 2014. It really felt like a hoppin’ place back then.
Selling off city assets for pennies on the dollar is not visionary. It was short-sighted and stupid.
As I watch, listen, and read, I keep asking myself is Indianapolis better or worse than it was 8 years ago? The easy answer is to get in your car and drive downtown if you can get there dodging potholes, not car jacked, and don’t hit a homeless person on the street. Then park in the parking garage next to someones abandoned vehicle and walk around downtown smelling the aromas of marijuana and enjoy shopping at the Circle Center Mall buying absolutely nothing. Common sense tells you the answer. Unfortunately, Shreve has no chance of winning because politics always supercedes common sense.
Excellent comment James.
Wow! Shreve has loaned himself $13.5 million dollars for his campaign! Obviously, if he wins, he will be beholden to himself. He will have to give himself huge contracts, bond issues, TIFs, etc.
Now if Hogsett wins, since he is supported by the rich folks who “win” huge, million$$ contracts, ……….
I’ve lived in Indiana for 20 years, never has downtown Indianapolis looked or felt so unkept and poorly managed. I work downtown every day and frankly I am afraid to walk to my car in the evening. It is not pretty and there are no amount of excuses you can conjure to deflect from these facts. Its a Democrat run city through and through. Urban decay, drugs, non-stop construction, pot hole central, etc so on. Complete disgrace!