Politics · United States · 2 hrs ago
Tech and crypto donors pour over $1.5 billion into US midterm race
The 15 biggest contributors have given more than $1.5 billion toward the upcoming US midterm elections.
The money has gone to both parties and to political groups, including super PACs that campaign on issues such as artificial intelligence and cryptocurrency rules.
Five of the top 15 contributors are in technology, with several donors backing efforts to reduce regulation in their industries.
Elon Musk has given more than $365 million, making him the largest individual contributor in a federal election cycle since unlimited election spending was allowed in 2010.
Some major donations come from groups that do not disclose their donors, making it harder for voters to know who is financing political advertising.
The midterms are on track to be the most expensive in US history, and the donations are intended to support candidates and policies favored by the contributors.
The 15 largest contributors to the upcoming US midterm elections have donated more than $1.5 billion, an AFP analysis of Federal Election Commission data shows.
The analysis says the midterms are on track to be the most expensive in US history.
Elon Musk has donated more than $365 million, making him the largest individual contributor in a federal election cycle since unlimited spending was allowed in 2010, according to OpenSecrets.
Five of the 15 largest contributors are in the technology sector, particularly artificial intelligence and cryptocurrency.
Some donors gave to both parties and to political action committees supporting deregulation in AI and cryptocurrency.
- Who
- The 15 largest contributors include tech and crypto donors, including Elon Musk, Marc Andreessen and Benjamin Horowitz.
- What
- They have donated more than $1.5 billion to the upcoming US midterm elections.
- When
- The analysis covers contributions since Nov. 6, 2024, and counts donations through Oct. 21.
- Where
- The United States.
- Why
- Some donors are seeking to elect politicians who will advance their preferred policy positions, including deregulation in AI and cryptocurrency.
This story does not have two clearly opposing sides.
The AFP analysis counted campaign contributions made from this date onward.
Musk donated $278 million, according to the article.
The Republican Senate Leadership Fund used $158 million in Musk donations to support Ken Paxton, the Republican Senate candidate in Texas.
The analysis’s reported donor totals were current as of this date.
Hürriyet Daily News published the article.
- Top 15 contributors
- More than $1.5 billion
- Elon Musk
- More than $365 million donated
- Musk donations since July 1
- $278 million
- Andreessen and Horowitz
- More than $113 million spent
- Coinbase
- Close to $57 million in total contributions
- Ripple Labs and Chris Larsen
- More than $68 million donated
What people are saying
We're on track to have the most expensive midterm elections in U.S. history.
pumping massive sums of money into U.S. elections hoping to elect politicians who will advance their preferred policy positions
Dark money spending has been increasing year over year, and it is a troubling trend because voters should be able to know who is financing the ads that they see