Megadonors are powering Republicans’ spending advantage
Por Jessica Piper — POLITICO – TOP Stories
A handful of megadonors are giving big to try and keep Republicans’ midterm hopes alive.
Elon Musk gave at least $276 million to boost Republicans in the third quarter, making him by far the largest spender of the cycle. Midwestern shipping magnate Richard Uihlein put $66 million more into a super PAC that has spent in federal and state races across the country, bringing his total giving this cycle past $130 million. Pennsylvania businessman Jeff Yass put another $10 million into a super PAC backing Vivek Ramaswamy’s Ohio gubernatorial bid, increasing his total donations on the cycle to over $105 million.
Together, the three billionaires accounted for more than $600 million in federal donations to Republicans this cycle, according to a POLITICO review of Federal Election Commission records.
The new filings shed light on super PAC spending that has already set records this fall, with Republicans hoping a massive financial advantage can help them overcome a brutal national political environment. And they reveal how just a handful of large donors account for the bulk of that fundraising gap.
Musk gave $158 million last quarter to Senate Leadership Fund, which the GOP super PAC immediately poured into a new group it spun up to boost Ken Paxon in Texas’ hotly contested Senate race. Musk also gave $10 million to another pro-Paxton super PAC, Lone Star Liberty PAC, in the third quarter, along with $20 million to Congressional Leadership Fund, the GOP’s House-affiliated super PAC.
The former DOGE head, who conflicted with President Donald Trump at times last year but has found himself back in the White House’s good graces, also gave more than $88 million to America PAC, the super PAC he initially created to support Trump’s 2024 campaign and that has been paying for ads and canvassing on behalf of Republican candidates across the country this year.
Uihlein has been the primary funder of the group Restoration PAC, which has spent in a handful of races across the country and given to another group, Restore Sanity, focused on the Minnesota governor’s race. His total federal political giving this cycle now exceeds $130 million, according to FEC records, while wife, Elizabeth Uihlein, has also given millions to various conservative groups.
Other major GOP donors haven’t hit nine figures this year but have nonetheless shelled out significant cash: Timothy Mellon, who was the biggest donor after Musk in 2024, gave $20 million to House Republicans’ super PAC in the third quarter.
Democrats have a handful of large donors, too — although none whose disclosed donations match the heft of the biggest GOP funders. Two entities linked to investor and longtime Democratic megadonor George Soros gave $102 million earlier in the cycle to his linked PAC, Democracy PAC, which has in turn has given money to a range of Democratic groups. Soros has also made a smattering of smaller personal donations to Democratic candidates and party affiliates.
The totals from individual megadonors also do not account for so-called dark money passed through 501(c)(4) nonprofits that make it difficult to trace directly to donors. Two of those groups, Majority Forward and House Majority Forward, have transferred $163 million combined to Democrats’ major congressional super PACs, House Majority PAC and Senate Majority PAC.
On the Republican side, two large dark money groups, American Action Network and One Nation, have given a combined $197 million to Congressional Leadership Fund and Senate Leadership Fund, the equivalent GOP super PACs.
Fonte: POLITICO – TOP Stories