David J. Shimmon March 5, 2001 David Shimmon's interest in politics and thoroughbreds is nothing new, but like many Silicon Valley moguls, his money is. In 1999 he began bidding millions at a time on big-ticket horses -- and betting hundreds of thousands on candidates for federal office and their parties. In only a few years, he's developed a reputation, in the words of the Los Angeles Times, as the "wealthy wunderkind who invests in untested horses and off-season politicians." Shimmon joined Kinetics Group, a firm that makes equipment used in semiconductor manufacturing, in 1990. The company has built up $1 billion in annual revenues by signing up high-tech and pharmaceutical clients like Intel, Motorola, Lucent, and Bayer. The stock has made a fortune for Shimmon twice: once when United States Filter Corporation bought the firm in 1997, and again when it merged with the French conglomerate Vivendi. Kinetics has since bought back control -- and Shimmon is now worth more than $100 million. He hasn't been shy about sharing the wealth. During the last election cycle, Shimmon contributed $727,000, giving all but $1,000 of it to Democrats. The stable owner grew up in a Democratic household (his father worked for a local Democratic politician for nearly 40 years), but he doesn't like to be labeled by party affiliation. Instead, he told the Times, he prefers the term "progressive." As he puts it, "I believe that we can only remain a strong community, state, and nation if we make sure we have some safety net for those left out." During the last election, Shimmon was reportedly California's leading contributor to state campaigns, handing over $450,000 to Governor Gray Davis and State Treasurer Phil Angelides, whom he considers personal friends. He denies any financial motivation behind his giving, but acknowledges that his contributions afford him entree to important leaders and a seat at what he considers an "entertaining debate" with politicians. It's not a seat he plans to give up anytime soon. "One thing I can tell you is that we are going to continue to give," he assured reporters last year. "You will continue to see the contributions, and you will continue to see that level of engagement." -- Pam Smith | | |