Several donors who had previously backed Jeb Bush donated to super PACs supporting his rivals in the second half of the year. | AP Photo Jeb Bush super PAC cash plummets Right to Rise raised $85 million less in second half of 2015.

The super PAC dedicated to former Florida Gov. Jeb Bush’s flagging campaign for the GOP presidential nomination raised $15 million in the second half of the year ― a massive drop-off from the $103 million it raised in the first half ― according to a report filed Sunday night with the Federal Election Commission.

The super PAC, Right to Rise, spent $54 million between the beginning of July and the end of last year, leaving it with $59 million in the bank at the beginning of this year, according to the report.


But the group spent at least another $16 million this month on ads seeking to buoy Bush and deflate his rivals headed into Monday’s Iowa caucuses, according to advertising data provided to POLITICO by The Tracking Firm.

The FEC report showed that the majority of the second-half haul ― $10 million ― came from a New York company called C.V. Starr & Co., Inc., which owns and operates insurance agencies.

The CEO and chairman of the company is Hank Greenberg, who, while Bush was governor of Florida, donated $1 million to help the state recover from a series of hurricanes.

At the time, Greenberg headed the multinational insurance company AIG, which became a symbol of Wall Street irresponsibility when the Federal Reserve bailed out the company during the 2008 financial crisis.

After the Wall Street Journal reported on Greenberg’s role in a major donation to Right to Rise this month, Kentucky Sen. Rand Paul teed off. “Former head of AIG gives $10 million into Bush super Pac,” Paul tweeted. “Bush super Pac is using his brother’s bailout money to bail out his campaign.”

The next biggest donor for Right to Rise was Morton S. Bouchard, who runs an oil barge company, and gave $1 million in the second half of the year, bringing his total giving to the super PAC to $1.5 million.

Several donors who had previously backed Bush donated to super PACs supporting his rivals in the second half of the year, including coal executive Chris Cline, who gave $500,000 to a super PAC supporting Florida Sen. Marco Rubio, and hedge fund billionaire Julian Robertson, who donated $25,000 to a super PAC supporting Ohio Gov. John Kasich.