Senator Marco Rubio has locked up the support of Oracle;s founder Larry Ellison, giving him a huge boost in credibility and campaign funds. Rubio's coup will likely pique interest in his candidacy in Silicon Valley, where a motherlode of cash for Rubio could make him competitive with Jeb Bush in fundraising.

Politico:

Sen. Marco Rubio now has another billionaire in his corner: Oracle founder Larry Ellison.

Ellison will host a fundraiser for the Florida Republican’s White House bid at his mansion in Woodside, Calif., on June 9, according to an invitation obtained by POLITICO.

A VIP reception and photo opportunity with Rubio will cost attendees $2,700 per person. The fundraiser will also include a host committee dinner for couples who have raised $27,000.

Ellison, who has a net worth of nearly $54 billion, hosted a fundraiser benefiting the National Republican Senatorial Committee last year that featured another presidential hopeful, Sen. Rand Paul, who has been courting major Silicon Valley donors.

 

The software giant executive’s support could mean millions for Rubio and outside groups supporting him. Ellison contributed $3 million to the pro-Mitt Romney super PAC Restore Our Future in 2012.

The importance of Rubio landing Ellison is hard to overstate. What these big money whales bring with them are dozens of other potential deep pocket supporters who can fuel a campaign for months. 

Rubio will not raise as much money as Jeb Bush will accumulate. But he doesn't have to in order to be competitive. Ellison's support has given Rubio a leg up on most of the other candidates and establishes him as a serious threat to get the nomination.

Hat Tip: Rich Baehr