The money from Charlotte, N.C., entrepreneur Jay Faison will go to nonprofit groups he established to promote clean energy and win GOP support for policies tackling global warming, Politico and Reuters write.
Mr. Faison is giving $165 million to the ClearPath Foundation to support a social-media and online ad campaign and provide grants. In addition. he is putting $10 million of his own money into his 501(c)(4) social-welfare nonprofit for climate-related political advocacy. He will try to raise additional money for that effort.
The goal is to try to fight climate change using a market-based approach instead of government mandates.
Mr. Faison’s fortune comes from the sale of his audio-visual equipment company SnapAV.