The most expensive vote in history: businessmen donated $2.77 billion to the US Congressional elections
Фото: REUTERS
Ahead of the US midterm elections scheduled for November 3, the 50 largest donors and organizations have allocated $2.77 billion to support political forces. The largest individual donor was Elon Musk, who donated $446 million to support Republicans.
This is reported by Al Jazeera .
According to forecasts by the analytical company AdImpact, political advertising spending during the 2026 election cycle could reach a record $11.6 billion. This would exceed spending in any previous US election, including the 2024 presidential election.
According to the analysis, political groups affiliated with the Republican Party received $1.67 billion, about 60% of the total donations from top donors. Democratic organizations raised $832 million, or about 30%. Another $264 million came from bipartisan donors and groups representing specific interests, including the cryptocurrency industry and sports betting.
Among the largest individual donors of the election cycle:
- Elon Musk — $446 million in support of Republicans;
- Elizabeth and Richard Uline, founders of Uline, $150 million;
- Jeff and Janine Yass — $110 million.
The Democratic Party’s largest donors include George Soros, who donated $102 million, former New York Mayor Michael Bloomberg, who contributed $84 million, and LinkedIn co-founder Reid Hoffman and his wife Michelle Yee, who donated $41 million.
Political organizations also channeled significant amounts into election campaigns. Among Republican-affiliated donors, the largest were One Nation with a contribution of $133 million, American Action Network — $64.3 million, and American Prosperity Alliance — $50.7 million.
Democratic-supporting organizations also received significant funding, with Majority Forward donating $102 million and House Majority Forward donating $93.7 million.
Cryptocurrency companies are also involved in financing election campaigns. Coinbase sent $57.8 million, Ripple – $49.6 million, and Foris DAX, which is behind the Crypto.com platform, – $39 million.
As Al Jazeera explains, direct donations to individual candidates in the US are limited to $3,500 per election. At the same time, large donors can channel unlimited funds through special political action committees, or Super PACs. Such organizations can finance political advertising and support candidates, but are not allowed to directly coordinate spending with their campaign headquarters.
Some funding also comes through non-profit organizations that are not required to disclose information about their donors, making it difficult to trace the origin of all funds spent on the election.
Harvard Law School professor Lawrence Lessig believes that the main problem with the American electoral system is not the total amount of spending, but the concentration of financial influence in the hands of a small number of extremely wealthy people.
As you know, on Tuesday, November 3, the US will hold midterm elections for Congress . Americans will elect a new House of Representatives and part of the Senate. The results of the vote will determine whether the Republican Party will retain control of both chambers and how freely Donald Trump will be able to implement his policies.
As previously reported, US Democrats are preparing large-scale investigations into Donald Trump if they win a majority in the House of Representatives. Potential targets for the inspections include Elon Musk’s companies, including Tesla.
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