On Thursday, the Washington Post launched a new tool that tracks campaign donations for the November midterms, and what it revealed is stunning. At this point, with just four months until the election, 9 out of 10 of the top megadonors are directly linked to the MAGA movement, and they’re out-funding the Democrats by a long shot.
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According to the Post, the top 50 individual donors have so far contributed $1.37 billion to campaigns for the upcoming races. $294 million of that has gone to Democratic candidates, $200 million has gone to unaffiliated candidates, and a whopping $875 million has gone into the Republican war chest. As the Post notes, all that cash “could prove critical for the GOP to maintain control of Congress in November.”
The top individual donors are comprised entirely of billionaires and “newly minted trillionaire” Elon Musk, who, along with eight other top GOP donors, are explicitly MAGA-oriented. While Musk was the top Republican donor in the 2024 election, currently that title goes to venture capitalists Ben Horowitz and Marc Andreessen, who have contributed $91.2 million to President Donald Trump’s MAGA Inc Super PAC and a pro-cryptocurrency Super PAC called Fairshake.
Other top individual contributors include financiers Jeff and Janine Yass, Miriam Adelson (widow of Trump ally and megadonor businessman Sheldon Adelson), shipping magnates Elizabeth and Richard Uihlein, OpenAI co-founder Greg Brockman and his spouse Anna, hedge fund manager Paul Singer, cryptocurrency investing brothers Comeron and Tyler Winklevoss (who, incidentally, claimed Mark Zuckerberg stole the idea for Facebook from them), and businesswoman Diane Hendricks. Between them all, they most frequently contributed to MAGA Inc as well as the Republican Congressional and Senate Leadership Funds, in addition to donating to groups that promote specific issues like AI, cryptocurrency, and school deregulation.
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The Post’s tool also lists the top 10 organizational donors, and here again, Republican and MAGA groups dominate. Six of 10 groups are specifically GOP, a number of which are directly linked to Trump, like Securing American Greatness, Stand Together Chamber of Commerce, and the crypto company Foris Dax. While the top two organizational donors — cryptocurrency companies Coinbase and Ripple Labs — aren’t technically political groups, they are aligned with the Trump family’s crypto business and primarily fund Republican candidates. Of the remaining two donor groups, one is AIPAC, which gives to candidates on both sides of the aisle.
As NPR notes, Republicans “have more money to spend, but they’ll need it.” Part of the reason there has been such a rush to dole out cash on the part of conservative donors involves the major headwinds faced by GOP candidates going into the midterms. Trump’s disastrous war with Iran, abysmal economy, brutal immigration crackdown, and mishandling of the Epstein files have proven so unpopular that many experts predict that the Republicans will lose their majority in the House and maybe even the Senate.
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