$880 million. That's how much Republican-aligned donors have poured into federal races in the first half of 2026, according to a Washington Post analysis of Federal Election Commission filings. The Democratic side pulled in $290 million over the same period.
That's not a fundraising gap. That's a fundraising chasm.
Marc Andreessen and Ben Horowitz — two Silicon Valley venture capitalists who spent years bankrolling Democratic causes — have combined for $91.2 million in GOP-aligned donations. That includes $50 million to Leading the Future PAC, $24 million to Fairshake PAC, and $12 million dumped straight into MAGA Inc.
Elon Musk has put up $85.1 million, with $50 million going to America PAC and another $20 million split between the Congressional Leadership Fund and Senate Leadership Fund. Pennsylvania financier Jeff Yass and his wife Janine have contributed $83.7 million. Miriam Adelson has kicked in $67.6 million — $30 million to the Senate Leadership Fund and $25 million to MAGA Inc. Elizabeth and Richard Uihlein account for $50.7 million. OpenAI president Greg Brockman and his wife Anna have added another $50 million.
That's six donor groups clearing $50 million each. On the Democratic side, George Soros leads at $102 million through his Democracy PAC, and after that the well runs noticeably dry.
The crypto industry has become its own force. Coinbase has donated $56.1 million, Ripple Labs $49.6 million, and Crypto.com — operating as Foris DAX — has contributed $38.6 million. These aren't ideological donations in the traditional sense. These are industries that watched the Biden administration try to regulate them out of existence and drew the obvious conclusion about which party would let them operate.
RNC Chairman Joe Gruters told Breitbart that the "GOP [is] poised to outspend Democrats this election cycle," which qualifies as the understatement of the midterm season. At a 3-to-1 ratio, "outspend" doesn't quite capture it.
Bipartisan and special-interest groups accounted for roughly $200 million in additional spending, with One Nation contributing $46.5 million and AIPAC's United Democracy Project putting up $30 million. But the headline story isn't the middle — it's the lopsided collapse of what Democrats have spent a decade insisting was their structural advantage in big-money politics.
Remember when "Citizens United" was the left's favorite constitutional crisis? When every Democratic candidate from city council to the Senate ran on the existential threat of Republican "dark money"? The entire premise was that conservative billionaires were buying elections while grassroots progressives scraped by on $27 donations and good vibes.
The FEC filings tell a different story. The donor class didn't just drift rightward — it sprinted. Tech founders who hosted Obama fundraisers are now writing eight-figure checks to MAGA Inc. The finance guys who used to split their giving are picking a side. And the crypto sector, which barely existed as a political force four years ago, is putting up numbers that rival legacy party infrastructure.
The Democratic response will be predictable. New calls for campaign finance reform. New warnings about oligarchy. New demands that someone do something about all this money in politics — the same money they were perfectly comfortable with when it flowed in their direction.
Soros is still writing the biggest single checks in American politics. The difference is he's writing them alone.