Two L.A. billionaires near top of conservative donor list

Not just any conservative donor list - American Crossroads, the right-wing political group that's watched over by Karl Rove, received $3.25 million last year from Wayne Hughes, chairman of Glendale-based Public Storage (Hughes gave separately to House Minority Leader Eric Cantor). He's second on a list of donors who gave the most money to political groups in 2010 (eight of the top 10 contributed exclusively to Republicans). Number seven was media investor Jerry Perrenchio, who gave $1.2 million, including $1 million to American Crossroads. Sunlight Foundation has the full list of top donors.

Forbes staffer Janet Novack provides some perspective.

The even bigger dollars that are likely being given by Forbes 400 members remain unknown. That's because the names of donors to 501(c)(4) tax exempt groups (unlike the names of donors to political action committees and 527s that register with the Federal Election Commission) can be kept secret. While 501(c)(4) "social welfare" organizations can advocate on public policy and can even get involved in political campaigns, politics is not supposed to be their their primary purpose. Donations to 501(c)(4)s are not tax deductible.