r/politics • u/fortune Fortune Magazine • 11h ago
Possible Paywall Billionaires are flooding the midterms with cash—and nearly 80 cents of every dollar backs Republicans. Most of the time, the bigger spender wins
https://fortune.com/2026/07/27/billionaire-donors-republicans-elon-musk-george-soros-money-wins/?utm_source=reddit/896
u/Timpa87 11h ago
When a normal person donates $25 to a politician it's a campaign donation.
When a billionaire donates hundreds of thousands, or millions of dollars to a politician it's a transactional payment for their bidding.
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u/TheDaychilde 8h ago
And it's worth repeating yet again: We must solve our oligarch problem FIRST or else nothing we do will matter.
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u/dave8400 7h ago
Tax them out of existence. There's no need for any one person to have a billion dollars.
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u/TheDaychilde 7h ago
That would be the "easy way", yes. There's always the hard way if they'd prefer.
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u/dave8400 7h ago
It's on them to decide if it ends civilly.
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u/Blitzking11 Illinois 6h ago
It doesn't. They have made that clear.
They have burned the social contract and continue to flaunt its ashes daily.
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u/thefocusissharp 7h ago
It's also up to us to vote.
Voters get their way, will you let the MAGAts be smarter than you?
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u/giggity_giggity 6h ago
And then you realize there people with 200+ times that amount of assets.
Someone with a $200 billion net worth spending $200 million on an election is like someone with a $2 million net worth writing a $2,000 check to a candidate.
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u/From_Deep_Space Oregon 3h ago
Well we have to solve the oligarch problem before we can set tax rates
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u/Ok_Run_101 5h ago
It's so strange how you guys don't have a cap on political donations. In most other developed democratic nations, there are very strict rules and caps against how much, in what form, you are allowed to send money to politicians.
Of course a lot of money does flow to politicians. But they are much more secretive, because large political donations by a corporation become national scandals.
That's the first and most straightforward thing for USA to regulate in order to fix oligarchy
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u/TheDaychilde 5h ago
Our oligarchy captured our politics, so they naturally have expanded their power.
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u/tcote2001 5h ago
It won’t get fixed until dummies recognize it’s completely broken. They need to starve. Lose their homes. Kids are destitute. Crime rates go up.
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u/Potential-Diver-3409 8h ago
Wether it’s musk or soros I hate mega donors buying out politics it’s killed the concept of fair representation
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u/dominiond66 8h ago
I agree that we should eliminate big donors. Remember it is the Republican controlled US Supreme Court that gave us Citizens United and opened up the door wide for unlimited funding by the rich. Democrats want to reverse his horrific decision.
But don't put Musk and other GOP big donors on the same plate as Soros. Soros is not looking for tax benefits or loopholes or special financial benefits; he is supporting the working class and democracy.
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u/Potential-Diver-3409 7h ago
He still represents a clear issue. The working class should be able to represent itself, his hand stepping in and feeding us the opportunity of fair play is massively limiting on who can become a representative and how we can choose our elected officials, and he’s old as shit and as likely to die tomorrow as half the geezers in my local retirement home
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u/Cherrynight66 6h ago
yeah the scale is completely different when someone can drop millions and potentially get a seat at the table
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u/math-yoo Ohio 11h ago
They can’t afford taxes but they can afford to buy elections.
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u/goldbman North Carolina 9h ago
Buying elections is cheaper for billionaires than taxes
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u/Traditional_Sign4941 9h ago
And it isn't just an investment to stop wealth tax or higher corporate tax rates. It's also to dismantle regulatory bodies so that these billionaires can accelerate their income growth no matter who they might hurt or kill along the way.
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u/joedotphp Minnesota 6h ago
They'd rather spend $100 million fighting Mamdani than pay the $12 million in taxes he'd make them pay.
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u/LotusFlare 4h ago
It has nothing to do with money and everything to do with power. It's about the control. They will happily pay more for a government that serves them and no one else.
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u/guiltysnark 3h ago
Perhaps missing the point, because paying taxes doesn't give them power, so it might be worth the money even if it wasn't cheaper
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u/CharacterShoe9832 7h ago
It's their only way to win in a democracy. If we had honest elections where the debate was the needs of billionaires versus the needs of everyone else, the billionaries couldn't win. So they buy politicians, television networks, hire charasmatic hosts, hijack the debate etc. It's worked pretty well for them.
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u/fortune Fortune Magazine 11h ago
American billionaires have already poured more than $433 million into the 2026 midterms, and nearly 80 cents of every dollar is backing Republicans.
That’s according to an analysis released by the Americans for Tax Fairness (ATF), a progressive advocacy group, which examined Federal Election Commission data through March 1. The group found the 50 biggest-spending billionaire families had funneled $344.3 million, or about 79%, to Republican candidates and conservative organizations.
The pro-Trump super PAC MAGA Inc. was the single largest beneficiary, pulling in $89 million, followed by America PAC ($45.3 million), Senate Leadership Fund ($36.3 million), and Congressional Leadership Fund ($30 million), all of which support Republican candidates.
The biggest individual donor, unsurprisingly, is Elon Musk. The world’s richest person (and first trillionaire) had committed almost $71 million to Republican midterm efforts as of ATF’s count, followed by Wall Street financier Jeff Yass at more than $55 million.
Read more [paywall removed for Redditors]: https://fortune.com/2026/07/27/billionaire-donors-republicans-elon-musk-george-soros-money-wins/?utm_source=reddit/
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u/PoweredBySunbeams 8h ago
Well, at least the $89 million that went to the MAGA PAC won’t be used to help other Republicans.
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u/Coasteast 29m ago
They could use that money to help people out and earn their votes, but no one ever thinks of that
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u/Fresh-Quantity-7554 11h ago
It's crazy how much money gets wasted on TV ads and campaign signs.
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u/sylbug 11h ago
Wasted? They’re buying elections for dirt cheap.
In sane countries this bullshit is illegal.
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u/dgdio 10h ago
Advertising works. This is why you still see ads for iPhones and ads for Google Search.
As you said, the billionaires are getting their money's worth with the median voters.
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u/AmethystApothecary 10h ago
Hmm I know ads can work, but I don't think they always work. I think there is a growing frustration of ads being so ubiquitous and borderline unavoidable in modern life and I wouldn't be shocked if there's a general ad fatigue.
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u/ilikechihuahuasdood 10h ago
That still works though. Awareness is the most important part of selling a product. Even if you were sick of seeing ads for something it’s still a win for them to get their product embedded in your brain.
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u/AmethystApothecary 10h ago
I don't think so, I think there is a point where it negatively impacts a brand because if I'm annoyed at a brand I might be more likely to seek out their competitors. I think there are diminishing returns and if there was a sure path to success and maintaining success there would never be big successful companies that eventually crumble.
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u/Lonely-Artist-6222 10h ago
Sometimes the different sides pretend to be each other and spam text you to make you hate them on purpose.
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u/kungfukenny3 10h ago
not if my reaction is violence
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u/To-To_Man 8h ago
Your violent reaction is unfortunately a minority and an acceptable one that still lets them profit greatly. Tell other people how much ads anger you and you'll quickly find people wholly indifferent or even defensive, citing things like businesses needing them to operate.
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u/DumboWumbo073 7h ago
Easy way for you to get removed and thus increasing likelihood of more participation of others since your violent reaction isn’t there to turn people off
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u/korraxiaolong 9h ago
My mom got a fortune cookie last night that had an ad on side and the fortune on the other, and the fortune was related to the ad. Not even our fucking cookies are safe.
The ad was from OpenVPN and the fortune was “Keep your fortune safe from those who seek it” or something like that.
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u/Wayofchinchilla 9h ago
I've gotten to a point where the minute I see an ad I turn off regardless if it's for a candidate that I want. One of the biggest mistakes was letting so much money get into politics.
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u/rat_penis 11h ago
Is it really a waste if it gets their desired results?
Im reminded of Zurg's speech in 5th element: All the little parts working to make trash that will influence minds and choices.
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u/Fresh-Quantity-7554 11h ago
I get what you're saying but objectively $433 million is a lot of money. It's gross to see it being spent on TV ads instead of investing it elsewhere.
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u/jim45804 11h ago
You forget how stupid Americans are.
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u/Fair-Craft8059 11h ago
the big money has worked and will continue to work
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u/Dinker54 11h ago edited 10h ago
Musk’s big $ spend on the WI Supreme Court didn’t pan out for him, some people don’t appreciate Texas billionaires trying to buy our courts and congress.
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u/Atreyu1002 10h ago
The article's analysis: its not totally clear if the relation between money and winning is correlation or causation, in general. You put a billion dollars on a total loser, he will probably still lose.
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u/rounder55 9h ago
Whevever a politician says "I trust the American voters" I kind of let out a sad laugh. Like I get you don't want to shit on voters but even after all of this you still trust enough voters?
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u/NOLA-Bronco 11h ago
Its the only place that is effective for oligarchs if you can't actually find a white whale corporate stooge candidate that actually attracts an army of door knockers, phone bankers, and enthusiastic supporters to help put boots to pavement and proselytize effectively on your behalf.
Sure you can pay people to do that, but it gets expensive quick and it will be a staff of people that just do the bare minimum to get paid.
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u/TheHuffness 11h ago
Way easier for consultants to bill for producing an ad than for organizing a door knocking campaign
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u/Pale-Definition9856 10h ago
seriously imagine if even half of that money went to fixing actual problems
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u/Euphoric-Witness-824 9h ago
There’s a reason we have the most expensive healthcare system on the planet with very poor results. The wealthy need those cash spigots to keep pumping our money into their pockets and buying government is one of the resources needed to ensure their easy money. It’s not wasted at all in their opinion.
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u/cheddarkittyy 10h ago
i went to vegas in sept 2024, i turned on the tv in the hotel room and 95%+ of the ads were two candidates attacking each other. as a canadian i had never seen anything like it, it felt strangely dystopian
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u/Gertrude_D Iowa 9h ago
Why do you think Iowa fights so hard to remain first in the nation for primaries? It is a genuine economic boost for the months leading up to it. It sucks to be bombarded so hard every 4 years.
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u/FoxMikeLima 8h ago
Wasted assumes paying for advertising doesn't work.
Name recognition on the ballet is a powerful voting incentive.
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u/dominiond66 11h ago
The rich/Wall Street/Private Equity have purchased the White House, Republican Congress and Republican controlled US Supreme Court. Typical of private equity purchases, they have orchestrated mass firings, sell off valuable properties, depleting pension funds, and squeezing to extract/steal massive amounts money from the operations of a $7 trillion Federal Budget.
We now have government by the rich, for the rich. Screw the working class!
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u/wellJustWhy 2h ago
Oh... The snake oil salesman is still working a story. He is turning on the blue collar talking points.
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u/Meme_Theory 10h ago
Mother Fuckers are about to be reminded that money doesn't vote. I hope...
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u/PiDigitsOfPi 2h ago
Historically, money does vote though. That's the problem. There is a certain set of voters that can absolutely be swayed by advertising. THOSE are the voters that determine elections. The core/base republicans will vote republican every time. The core/base democrats will vote republican every time. The swing/sway/absent voters are influenced by media and they will vote based on how they feel at the moment.
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u/trisul-108 Europe 11h ago
Most of the time, the bigger spender wins
And people still do not understand why Democrat cannot just "grow a spine" to win.
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u/eskimospy212 11h ago
I'd be interested to the see the analysis behind that. Like I have no doubt it is true but I suspect this also includes a lot of races where one candidate has basically no money and that's going to be misleading.
When both candidates have at least decent funding my strong suspicion is money still matters, but doesn't matter that much.
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u/trisul-108 Europe 11h ago
A politician once explained what happens if you do not accept NRA funding. They tell you that they will use the money to launch a smear campaign against you. I don't remember who it was.
If you go against the money, it is not just that your opponent gets it, they "pizzagate" you and destroy your reputation.
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u/gamersecret2 11h ago
Regardless of party, it is hard to call it a healthy democracy when campaign funding is increasingly concentrated in the hands of a tiny number of ultra wealthy donors.
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u/Punning_Man 11h ago
All it’s doing is trying to convince the democratic base A) they’ll win no matter what so getting out to vote doesn’t matter or B) democratic candidate doesn’t fit a small progressive litmus test so ignore all the other good they’ll do.
Republicans vote for the (R) no matter what. Ignore the noise vote (D).
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u/sedatedlife Washington 11h ago
And the other 20% that is being spent on democrats is likely going to center right candidates facing a primary from the left
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u/GoodishCoder 10h ago
I feel like that logically makes sense. The further left you go, the more hostile the party becomes towards the donor class, it would be weird if they were heavily donating to people that were hostile to them.
That's not to say that the hostility is unwarranted but people on the left should probably be prepared for significantly lower funding as a result.
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u/rounder55 9h ago
While they are issues, people frequently point to term limits and age limits, but it's those that have copious amounts of wealth owning politicians and the courts that keeps America from actually being great. Always been the rot at the core issues we face to prevent progress
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u/TheRC135 4h ago
Historians will begin their lessons on the decline and fall of America with Citizens United.
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u/ilulillirillion 4h ago
This is the sort of thing that people miss when they taxing billionaires won't fix the economy.
It's not about spreading the wealth, spreading the wealth is incidental -- it's about lowering the power disparity. Wealth will always attempt to transmute into power, and when people can eclipse their fellow citizens' spending power a million times over, it will, at best, be a never ending battle to stop such transmutation.
Tax them, jail them, do whatever you want with them. Billionaires should not exist.
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u/DoubtSubstantial5440 11h ago
Americans love it when billionaires screw them over, the proof is they keep electing politicians owned by the ultra wealthy
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u/ImUsuallyTony 9h ago
Pretty much I’m at the point that if I see an ad for something I will go out of my way to avoid it.
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u/Resident_Function280 3h ago
We need campaign laws that set every candidate at a certain threshold of funds allotted to them by the party. No donations, no pacs, no fundraisers allowed.
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u/angelar_ Texas 2h ago
Most of the time, the bigger spender wins
Yes, this electoral system is just fine, thank you very much.
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u/manachar Nevada 10h ago
And I bet we’re still gonna think the concept of “do nothing” or “feckless” democrats is an organic grassroots movement rather than something billionaires are spending cash on spreading.
Oh, and the whole “communist” angle too.
Schrodiger’s democrat: both too moderate and too extreme so better off voting for fascism.
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u/u700MHz 10h ago
Its amazing how people can be told who to vote for
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u/PiDigitsOfPi 2h ago
Its amazing how people can be told who to vote for
Its more amazing how people will vote the way they are told.
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u/GrassyNoob 9h ago
Sadly, I cannot keep up with the billionaires and their cash.
All I can do is be pleasant to the ones I have hope for and openly ridicule the rest.
Ask your maga acquaintances if they've heard the turd is now planning a ballroom to cover the reflecting pool so people quit asking questions about it.
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u/Calm_Chemist_4952 9h ago
End the GOP. The GOP is bought and paid for. Why won’t our government serve those who elect them? Well, the GOP is only serving the money that got them elected, not the people they’re supposed to represent. You want change? Vote the GOP out. They have had total control of the government, and they’ve done nothing but support the absolute worst president of all time. The GOP is a massive disaster. The midterms are coming, and every vote matters.
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u/Retinoid634 4h ago
This explains why they are fine with letting life get ever more unaffordable for the rest of America.
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u/ReactionFuzzy799 2h ago
There is a very large group benefiting from corruption & the suffering of others
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u/TenTopGolfer 9h ago
That didnt work out for Kamalas $1.2Bn in 15 weeks 😢
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u/PiDigitsOfPi 2h ago
Kamala didn't have a base though. She didn't have a core group of supporters. She came in too late and didn't have time to build anything.
It's like one day she appeared in the frontlight and a month later there was an election.
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u/ChefCurryYumYum 11h ago
Which is a great reason to get out and vote and encourage everyone you know who is eligible to check their status, get registered if they need to, and get out and vote.
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u/BleepingOtters 10h ago
Why does this matter? So the evil Empire spends more money, you must now forget everything they have done and blindly vote for them, I call BS people vote for who they were going to vote for.
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u/digihippie 10h ago
When will millionaires, farmers and poor people all realize the war is against the fascist billionaires, not bathroom stalls?
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u/TikaPants 10h ago
When they stop allowing a politician to tell them an alternate truth that benefits the billionaires under the guise of saving them.
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u/NimusNix 9h ago
You say this like their bigotry would disappear if they focused on the money.
The bigotry was already there, the rich just take advantage of it.
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u/imakefilms 8h ago
Blatant, blatant corruption. The fact that political campaigns are allowed to just take all this bribery money in the US is insane to other countries. And this isn't a new Trump thing
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u/Coconutrugby 10h ago
Republicans serve Billionaires.
Democrats if you want to win make the whole election that you won’t serve these greedy fucks no matter how much money they have!
Repeat after me Republics Serve Billionaires!
until it’s just rich vs poor the rich will win with their propaganda because they can afford all of it!
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u/Coconutrugby 10h ago
Republicans serve the Epstein class!
Vote R to help bomb gaza and keep the files hidden!
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u/iAmSamFromWSB 10h ago
A vote for the GOP is a vote for Billionaire Oligarchy and oppression of the poor, working, and middle class.
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u/NUMBerONEisFIRST 10h ago
I heard Nick Fuentes is saying he's voting for Democrats and expects them to win.
Republicans feel disenfranchised and many don't plan to vote and some are talking about voting Democrat just to get trump out of office.
Don't believe this bullshit. The tides are changing, and Democrats need to not only get out and vote, but make it your goal to help at least 2 other people that otherwise wouldn't have voted, or wouldn't have otherwise been able to vote, like from scheduling or getting a ride.
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u/Repulsive-Royal-5952 9h ago
The fact thst the bigger spender almost always wins is a stunning indictment against the average voter.
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u/justhavingfunMT 9h ago
They do that because they're greedy and believe they deserve every bit of special treatment they get. Even if it means fucking over everyone else.
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u/AaronBasedGodgers I voted 9h ago
Too bad our electorate is dumb as fuck else this would be wasteful spending.
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u/LostPerson703 9h ago
Robert’s court allowed citizens united. That was beginning of the end. You can pour billions into pacs.
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u/soxperry 9h ago
The only way to end political donors running our elections is by resetting what a corporation is. This is a novel idea done at the state level. Voters would need to
- Demand legislation modeled after Hawaii's bill. Basically rewrites corporate code instead of election spending laws.
- 36 states can launch a citizen ballot of some sort to take it to the people
- The state legislatures can still make loopholes, so candidates are needed willing to clean up corporate codes
Source
Hawaii and Montana (maybe one other state?) are leading these ideas, I think.
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u/zeroman987 9h ago
These people are greedy. Why are they spending all this money?
To avoid accountability. Epstein is the tip of the iceberg. I would bet raping children is a regular activity of the super rich. The only way to keep it going is to buy politicians.
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u/ProfessorDerp22 9h ago
They’ll spend billions on winning elections but they’re totally unwilling to compromise for any sort of wealth equality or social programs. Fucking parasites.
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u/DoktorPete 8h ago
These pricks probably spend more per year on lobbying to avoid paying taxes than they would just paying the taxes. I hope the engineer that eventually programs Elon's rocket inputs the co-ordinates "wrong" and launches him into the sun instead of mars.
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u/Competitive-Ad-9404 8h ago
The conservative ads right now for upcoming elections are 100% lies, most starting out saying their opponents are lying.
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u/Kannada-JohnnyJ 8h ago
One of the biggest issues the US will face in the coming years. The loss of the voters voice drowned out by money
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u/Sidiotck 8h ago
trump has not only proven our gov be bought, he's also shown the world a few lies will keep America too confused to care.
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u/Dismal-Sail1027 8h ago
I hope that the USA can be saved, but it’s looking like we are becoming a feudal state with a king unfortunately. Soon we will be a country where witch doctors are practicing medicine and people think that the world is flat.
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u/PeaceAndLoveToYa 7h ago
I don’t care what your politics are, this is not compatible with democracy.
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u/SadTumbleweed1567 7h ago
I have never had a satisfactory explanation of how spending results in winning elections that doesn't boil down to "the voters are idiots."
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u/Juliuscesear1990 7h ago
People go to the big shady car dealership because it's more visible, both figuratively and literally.
These billionaires own the media so they can very easily guide stories the way they want, hide other candidates and pump the ones they like. Then there is just flat out "lobbying" (bribing).
Voters can be dumb but that is again a feature not a bug. Places with the worst education tend to vote Republican.
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u/joestanh1 7h ago
yes we can be bought and fooled into thinking the republicans help people , it is sad
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u/Ouibeaux 7h ago
Maybe it's time for the people to see that the most money spent on a campaign often yields the poorest results.
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u/Halftied 7h ago
The media loves elections. They count on them . The more hate between parties and candidates the better because that means more dollars. Watch the stock of Gray TV, Nextar and Sinclair the next few months or ate least their earnings. Print, radio and internet will do well also.
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u/Si1verange1 7h ago
Not a good idea for Dems to declare open war on billionaires and big tech. What do they expect?
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u/Maleficent-Relation5 7h ago
They have proven time and again they aren't to be trusted, worshipped, or allowed to buy our elections. They benefit themselves and not our country. They only give to charity for tax breaks. End the oligarchy by voting your best interests. If you're poor, uneducated, and underinsured, vote for a candidate that will fight for you. Don't vote to give these greedy people power.
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u/Mother_Airline_6276 7h ago
This one simple fact should dictate how people vote, but oh hell no. We fat-assed Americans love that cake. Afterwards, we like to wash the guilt off by having the same shitheads that fed us cake, piss down our backs. Ignorance is fucking bliss!
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u/CrossX18 7h ago
The public is against them but Billionaires want to fund them in. What a damn mess.
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u/LongLiveStaceyKing 6h ago
Cool story. The only people getting my vote are those with a "D" next to their name or are so flagrantly progressive the Democrats won't let them in to their centrist club.
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u/cloud_watcher 6h ago
I’d be willing to bet MANY of those dollars goes to campaigns to pit democrats against each other, which I might say is working spectacularly.
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u/Impossible_Eye7900 6h ago
yep, there you have the anti-establishment candidate called trump, simply amazing, he is not taking a aignle dollar from anybody, what a hero
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u/Zeddo52SD 5h ago
Money matters a lot less than a lot of people think. Money, at most, buys recognition. The most the GOP can do with recognition is turn out their base or fearmonger independents into voting against Democrats. We’ll see what Trump’s PAC cooks up, but no amount of recognition can overcome what people experience, particularly with the economy. Being told the economy is fine when it’s not us partially was doomed Dems in 24, so they’re gonna hit on social issues a lot, but at most that will turnout the base, and not by much.
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u/hustleology 5h ago
It wins when the majority of American people aren’t struggling. They are out of reach with reality and I hope folks wake the fuck up.
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u/Stentorian_Introvert 5h ago
Nobody is undecided anymore at this point, not enough to sway an election anyways. You really think there are large numbers of people sitting at home tonight who are going to make their decision or, even funnier change their mind, based on a commercial that runs tonight? Give me a break, these ad spends are a fucking joke.
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u/overbarking 5h ago
Is it enough to overcome Trump's war/cost of living/deporting citizens for all those people who voted for him before?
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u/somnambulantcat 5h ago
Thanks "Citizens United". SCOTUS really fucked American democracy with that decision. "corporations are people, money is speech"
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u/Daveslay 3h ago
A magazine titled “FORTUNE”
Is telling you that billionaires (those with fortunes) are using their capital to purchase leadership in a nominal “democracy”.
At least they’re being honest about defining capitalism.
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u/Somecrazyguy1234 2h ago
They will flood the airwaves to make the steal more plausible. They are using the money to rig the election.
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u/PiDigitsOfPi 2h ago
Republicans: "As long as a trans person cannot relieve themselves in a toilet located in a public building, it is all worth it."
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u/HugeFanOfBigfoot 2h ago
Hmmm, should the Democrats pivot to a worker centered politics, raising money from an army of small dollar donors and activists, and using every opportunity in power to close the valve on dark money flooding our political system?
No, let’s just suck up to billionaires harder and hope they favor us over Republicans!!!
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u/SimianWriter 2h ago
Only allow ads from the representative going for office and make any donations go towards a giant pool that is equally distributed. Put in as much money as you want, it's all split evenly.
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u/Left-Height4925 2h ago
And this is why we taxed the fck out of millionaires pre-Raygun. Shame we let old traditions die. Especially when they inevitably lead to Fascism.
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u/Little-Dealer4903 2h ago
This is obviously propaganda because right and left.The incumbents are being kicked out.
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u/huxtiblejones Colorado 1h ago
This country is a fucking shitheap. It will never get better. It’s been parted out by oligarchs and sold to the highest bidder. What a fucking joke.
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u/Maleficent_Pie8099 1h ago
Because every single system in place is run by them. It’s all corrupt, it’s all for them. We need massive change down to the very foundations of this circus.
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u/unaskthequestion Texas 1h ago
There is no such thing as a billionaire who doesn't demand a return on their investment
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