A handful of megadonors are giving big to try to keep Republicans’ midterm hopes alive.
Elon Musk gave at least $276 million to support Republicans in the third quarter, making it by far the biggest spender of the cycle. Midwest Shipping Tycoon Richard Uihlein invested another $66 million in a super PAC that spent in federal and state races across the country, bringing its total donations this cycle to more than $130 million. Pennsylvania businessman Jeff Yass invest another $10 million in super PAC support Vivek Ramaswamy candidacy for governor of Ohio, increasing his total donations over the cycle to more than $105 million.
Together, the three billionaires accounted for more than $600 million in federal donations to Republicans this cycle, according to a POLITICO study of Federal Election Commission records.
The new documents highlight Super PAC spending that has already set records this fall, as Republicans hope a massive financial boost can help them weather a brutal national political environment. And they reveal that just a handful of big donors account for the bulk of this fundraising gap.
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