New Loyalties for Old Fundraising Networks

"Bill Clinton was our Democrat, and there wasn't many choices back then. But now people are finding there are other very interesting people doing and saying things on the Democratic side which are worthwhile to support," said Matthew Gohd, an investment banker whose fundraising in the 1990s earned him a White House visit with Clinton. He has defected to New Mexico Gov. Bill Richardson.

Hillary Clinton still has the loyalty of many major players from her husband's network, including chief fundraiser Terence R. McAuliffe, aerospace executive Bernard Schwartz, businessman Alan Patricof, investment banker Stanley S. Shuman and venture capitalist Steve Rattner.

But dozens of donors have migrated. Some cite fatigue after more than a decade of raising money for Bill Clinton's White House bids, Hillary Clinton's Senate campaigns, his presidential library and their global charitable efforts involving AIDS, poverty and hunger.

Most, though, blame the defections on the enthusiasm generated by the upstart campaign of Sen. Barack Obama (D-Ill.).

Kirk Dornbush, a veteran Atlanta fundraiser whose father served as an ambassador during the Clinton years, said Obama has created an excitement unseen since that surrounding Clinton in 1992.

"Bill Clinton and Al Gore energized people to do things they had never done before, and that is why you were willing to knock the roof off fundraising for them. And that is what is unique to Senator Obama and none of the other [Democratic] candidates," Dornbush said.

Other major Clinton donors who now show up on Obama's financial reports with maximum $2,300 contributions include actress Kate Capshaw, Texas businessman Bernard Rapoport, singer Barbra Streisand and Los Angeles couple Stanley and Betty Sheinbaum.

Likewise, Bill Clinton's Hollywood fundraising dream team of David Geffen, Jeffrey Katzenberg and Steven Spielberg have all helped Obama.

Katzenberg said he remains a "fan of Hillary Clinton's," but he added: "I'm supporting Barack Obama. I think he deserves to have a level playing field in which money does not become a barrier."

The fight for Hollywood dollars involves another dynamic early in the primaries -- bet-hedging. Spielberg agreed to stage major events for both Democratic front-runners, Obama in February and Clinton next month, and he has given the maximum $2,300 to each of the candidates. He is hardly alone.

At least 470 Democratic donors gave money to both Clinton and Obama in the first quarter. They include Rapoport, Streisand, the Sheinbaums, Ohio lawyer Stanley Chesley, Washington lawyer Kenneth Feinberg, San Francisco businessman Mark P. Gorenberg and Clinton administration solicitor general Seth Waxman.

Actor Michael Douglas gave maximum contributions to Obama, Clinton, Richardson and Sen. Christopher J. Dodd (Conn.).

Obama is not the only beneficiary of Clinton defectors. Former Export-Import Bank chairman Ken Brody is raising money for Dodd, while Richardson has snared Gohd.

Though the Bush and Clinton networks are scattered during the primaries, they are likely to reconstitute themselves after both parties pick their nominees next summer, Gohd said. "We'll all pretty much be on the same page then," he said.

Database editor Sarah Cohen, staff writer James V. Grimaldi and staff researcher Madonna Lebling contributed to this report.