Twenty megadonors have poured $1.2 billion into the midterms
The Megadonors Who Have Poured $1.2B into the Midterms
A New York Times analysis of the latest contribution data finds the 20 biggest donors in this midterm cycle have combined to spend $1.2 billion on federal races. The list is dominated by Republican-leaning givers and shows the tech industry's rising political power: Andreessen Horowitz and its founders lead at $115.3 million, followed by George and Alex Soros at $103.7 million, Jeff Yass, Elon Musk, and crypto firms Ripple, Coinbase, and Crypto.com. Five dark-money nonprofits contributed $265 million without disclosing their donors.
Good luck finding out who contributed this $265 million.
- wpm
If they have the money for this, they have the money to pay more in taxes.
- angelgonzales
Interestingly enough Democrats raised $2.3B and Republicans raised $0.2B last presidential election cycle (1), it’s clear that the more monied party are the Democrats, my take here is that the Republicans are either more grassroots and don’t need to convince as many Americans to vote for them or they are far more efficient with capital during campaigns. PAC spending was also within 9.7% of one another in 2024 (2).
1- https://www.fec.gov/data/raising-bythenumbers/
2 - https://academic.oup.com/psq/article/140/3/439/8157144?utm_s...
- applebottomjean
Wouldn’t it be great if all the money Musk dumped into this election was wasted? I guess it’s still not that much money for him, but the repudiation of these tactics would be wonderful.
- hightrix
This is an old article. Musk has spent close to half a billion himself this election cycle.
- QGQBGdeZREunxLe
Is there any viable road to campaign finance reform that is also constitutional?
- dzonga
for US politics to go back to normal - there should be a limit on the money a candidate can raise from donors.
no more PACs. limit ad-runs to two a day.
because the ads are just lies and hogwash - they don't even spread ideas or inform voters.
- kart23
who actually can defend this being good for our society? (that’s not affiliated with a super pac)
- nneonneo