Who’s Funding the 2026 U.S. Midterm Elections?
Key Takeaways
- The 50 largest donors and donor groups to the 2026 U.S. midterm elections have contributed $2.77 billion, with Republican-aligned contributors accounting for approximately 60% of the total.
- Elon Musk leads the ranking with $446 million in contributions, nearly three times as much as the second-largest donor entry.
With control of Congress at stake in the November 3 midterm elections, billions of dollars are flowing into American politics.
Political advertising spending is projected to reach a record $11.6 billion during the 2025–2026 election cycle, surpassing spending during the 2024 presidential election cycle.
Much of the funding comes from wealthy individuals, political organizations, and corporations seeking to influence electoral outcomes and public policy.
This visualization by Al Jazeera ranks the 50 largest donors and donor groups in the 2026 U.S. midterm election cycle.
The data is based on Federal Election Commission filings reported as of October 26, 2026. It tracks major contributions to federal political committees since January 1, 2025, and groups donors by political affiliation.
Elon Musk Dominates Political Donations
Elon Musk tops the ranking, with contributions that dwarf those of every other donor or organization on the list.
| Donor | Description | Political affiliation | Donations |
|---|---|---|---|
| Elon Musk | SpaceX, Tesla | Republican | $446M |
| Elizabeth & Richard Uihlein | Shipping magnates | Republican | $150M |
| One Nation | Republican-aligned nonprofit | Republican | $133M |
| Jeff & Janine Yass | Financier and education advocate | Republican | $110M |
| George Soros | Billionaire investor and philanthropist | Democrat | $102M |
| Majority Forward | Democratic-aligned nonprofit | Democrat | $102M |
| House Majority Forward | Democratic-aligned nonprofit | Democrat | $93.7M |
| Ben Horowitz & Marc Andreessen | Venture capitalists | Republican | $92.2M |
| Mike Bloomberg | Bloomberg LP co-founder and former New York City mayor | Democrat | $84.2M |
| Miriam Adelson | Las Vegas Sands, Dallas Mavericks | Republican | $67.6M |
| American Action Network | Republican-aligned nonprofit | Republican | $64.3M |
| Coinbase | Cryptocurrency firm | Special Interest | $57.8M |
| Cameron & Tyler Winklevoss | Cryptocurrency billionaire brothers | Republican | $55.9M |
| Paul Singer | Elliott Management | Republican | $53.5M |
| American Prosperity Alliance | Republican-aligned nonprofit | Republican | $50.7M |
| Greg & Anna Brockman | OpenAI co-founder and wife | Republican | $50.0M |
| Ripple | Cryptocurrency firm | Special Interest | $49.6M |
| GOPAC | Pro-Republican political nonprofit | Republican | $48.0M |
| Koch | Kansas-based industrial conglomerate | Republican | $46.8M |
| Economic Opportunity Fund | Democratic-aligned nonprofit | Democrat | $41.5M |
| Christine & Stephen Schwarzman | Blackstone CEO and wife | Republican | $41.3M |
| Reid Hoffman & Michelle Yee | LinkedIn co-founder and wife | Democrat | $41.2M |
| DraftKings | Gambling company | Special Interest | $40.4M |
| Foris Dax | Cryptocurrency company | Republican | $39.0M |
| Stephen Mandel | Hedge fund manager | Democrat | $35.1M |
| Stand Together Chamber of Commerce | Koch-linked, Republican-aligned nonprofit | Republican | $34.5M |
| Diane Hendricks | Billionaire businesswoman | Republican | $32.7M |
| Opportunity Action Fund | Democratic-aligned nonprofit | Democrat | $32.6M |
| Ken Griffin | Hedge fund manager | Republican | $32.6M |
| League of Conservation Voters | Environmental advocacy nonprofit | Democrat | $32.1M |
| Public First Action | AI nonprofit | Special Interest | $30.3M |
| AIPAC | Pro-Israel nonprofit | Special Interest | $30.0M |
| Securing American Greatness | Pro-Trump political nonprofit | Republican | $29.5M |
| Democracy Matters | Democratic-aligned nonprofit | Democrat | $29.1M |
| FanDuel | Gambling company | Special Interest | $29.0M |
| Democratic Governors Association | Democratic political organization | Democrat | $28.6M |
| Marlene & Joe Ricketts | Billionaire businessman and philanthropist | Republican | $28.0M |
| American Opportunity Action | Democratic-aligned nonprofit | Democrat | $27.1M |
| National Association of Realtors | Real estate trade association | Special Interest | $26.6M |
| Center Forward | Nonprofit supporting centrist Democrats | Democrat | $26.5M |
| Andrea & Stephen Wynn | Wynn Resorts co-founder and wife | Republican | $25.7M |
| AB Foundation | Democratic-aligned nonprofit | Democrat | $24.3M |
| Fred Eychaner | Newsweb Corporation founder | Democrat | $24.2M |
| JB Pritzker | Illinois governor and Hyatt Hotels heir | Democrat | $23.9M |
| Tim Mellon | Businessman and heir to the Mellon fortune | Republican | $23.1M |
| Sixteen Thirty Fund | Progressive advocacy nonprofit | Democrat | $21.7M |
| Chris Larsen & Lyna Lam | Ripple co-founder and philanthropist | Democrat | $21.5M |
| Deborah Simon | Simon Property Group heiress and philanthropist | Democrat | $20.8M |
| J. Christopher & M. Jude Reyes | Reyes Holdings co-founders | Republican | $20.3M |
| United Futures | Democratic-aligned nonprofit | Democrat | $19.7M |
Under federal election rules, individuals can donate up to $3,500 per election directly to a federal candidate during the 2025–2026 cycle.
However, super political action committees, commonly known as super PACs, can accept unlimited contributions from eligible individuals, corporations, and organizations.
These groups can independently spend large sums to support or oppose candidates, although they are prohibited from coordinating that spending with candidates’ campaigns.
Musk has contributed approximately $446 million to Republican-aligned political organizations, accounting for 16.1% of all contributions from the top 50 donors and donor groups.
To put this figure into perspective, Musk contributed nearly three times as much as Elizabeth and Richard Uihlein, the billionaire founders of shipping supplies company Uline, who rank second with $150 million. His total also exceeds the combined $393 million contributed by the next three entries on the list.
Since the beginning of July 2026 alone, Musk has contributed at least $355 million to his super PAC and other Republican-aligned groups. Much of his financial support has been directed toward organizations seeking to maintain Republican control of Congress.
Image courtesy of Al Jazeera
Other major Republican contributors include Jeff and Janine Yass, who contributed $110 million. Venture capitalists Ben Horowitz and Marc Andreessen also rank among the ten largest donors, contributing $92.2 million.
The concentration of funding extends beyond Musk. The ten largest donor entries contributed approximately $1.38 billion combined, representing nearly half of all contributions from the top 50.
Republican-Aligned Donors Hold a Two-to-One Advantage
Among the 50 largest donor entries, Republican-aligned contributors account for approximately $1.67 billion, compared with $832 million from Democratic-aligned contributors.
That represents a roughly two-to-one advantage within the ranking. Special-interest and bipartisan contributors account for another $264 million, or approximately 10% of the total.
The gap reflects contributions from the largest donors and organizations, rather than total fundraising across the election cycle. Of the 50 entries, 23 are classified as Republican-aligned, compared with 20 Democratic-aligned entries and seven special-interest contributors.
Image courtesy of Al Jazeera
On the Republican side, One Nation ranks third overall with $133 million, followed by several wealthy individuals and organizations. American Action Network contributed $64.3 million, while American Prosperity Alliance added $50.7 million.
Democratic-aligned contributions are also heavily concentrated among several major donors and organizations. George Soros and Majority Forward each contributed approximately $102 million, while House Majority Forward provided $93.7 million.
Former New York City mayor Mike Bloomberg ranks ninth overall with $84.2 million. LinkedIn co-founder Reid Hoffman and his wife, Michelle Yee, contributed another $41.2 million.
Cryptocurrency, Political Nonprofits, and Special Interests
Beyond traditional political donors, the 2026 election cycle has attracted substantial contributions from cryptocurrency companies, sports betting businesses, and advocacy organizations.
Three major cryptocurrency companies in the ranking contributed a combined $146.4 million. Coinbase leads with $57.8 million, followed by Ripple at $49.6 million and Foris Dax, the company behind Crypto.com, at $39 million.
These companies do not all fall under the same political classification. Coinbase and Ripple are categorized as special-interest contributors, while Foris Dax is classified as Republican-aligned.
Sports betting companies also feature prominently. DraftKings contributed $40.4 million, while FanDuel added $29 million, bringing their combined contributions to $69.4 million.
Other special-interest contributors include AIPAC, the pro-Israel advocacy organization, with $30 million, and the National Association of Realtors, with $26.6 million.
Political nonprofits also account for some of the largest contributions in the ranking. One Nation and American Action Network are aligned with Republican Senate and House leadership, respectively, while Majority Forward and House Majority Forward are linked to their Democratic counterparts.
Unlike super PACs, which must disclose their contributors to the Federal Election Commission, certain nonprofit organizations are not generally required to publicly identify their own donors.
This makes it harder to trace some political funding back to its original source, a practice commonly associated with so-called dark money.
As a result, while the ranking reveals some of the largest financial forces shaping the 2026 midterms, it does not provide a complete picture of who ultimately funds American elections.
Learn More on the Voronoi App
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