These Billionaires Have Spent The Most On the November Midterms

Key Points:

• The top 10 billionaire donors have contributed over $734 billion to the 2024 midterm elections, with notable figures like Marc Andreessen, Elon Musk, George Soros, and the Winklevoss twins heavily involved in federal races.
• OpenAI President Greg Brockman and his wife are among the top 20 donors, giving $50 million to Trump’s MAGA Inc. and an AI-supporting super PAC, while billionaire Charles Koch’s Koch Inc. donated $35 million, though Koch’s personal contribution was modest.
• Billionaires such as Kelcy Warren, Stephen Schwarzman, Ron Lauder, and others have made significant donations to Trump’s MAGA Inc. and GOP super PACs, while Democratic billionaires like Amos Hofstetter Jr., Reed Hastings, and J.B. Pritzker have supported Senate and House Majority PACs.
• Billionaire political donations are expected to increase as the election approaches, with federal spending reports post-election providing a clearer picture; current figures exclude state-level donations where billionaires are also active.
• Trump’s MAGA Inc. has raised $400 million, mostly from million-dollar-plus donations, but has spent little so far; plans include a large advertising campaign focused on Trump’s presidential record and supporting preferred Republican candidates.