Various wealthy individuals compete for political discourse, and the cryptocurrency influence has quietly participated.

Written by: Amanda L. Gordon, Biz Carson, Bill Allison

Translated by: Saoirse, Foresight News

Billionaire founder of market-making firm Susquehanna International Group, Jeff Yass, has been actively contributing this election season, having donated over $80 million to midterm election candidates and related political causes.

According to data compiled by Bloomberg News, this donation ranks third among individual donors in this election cycle, trailing only George Soros and Elon Musk. Soros and Musk's donations primarily go to their respective super political action committees, while Jeff Yass is one of the largest donors to Trump’s MAGA Inc., and he also directly funds numerous beneficiaries.

The scope of donations covers the areas he actively supports—donating $15 million to the School Freedom Fund that advocates for school choice, as well as several political candidates, including a $20 million donation to the federal political action committee supporting Ohio gubernatorial candidate Vivek Ramaswamy.

His donations also target some niche political causes, including a $675,000 donation to Aurora Action Network, which seeks to abolish Alaska's ranked-choice voting system, despite Alaska being far from Jeff Yass's hometown of Pennsylvania. Jeff Yass has not responded to media requests for comment.

According to the Bloomberg Billionaires Index, Jeff Yass has a net worth of $83.8 billion. An analysis of current large donors indicates that he is just one participant in the most expensive midterm election in history.

Bloomberg analysts point out that during this election cycle, federal political committees have raised over $4.7 billion from individuals, corporations, dark money organizations, and other institutions, not yet counting state and local donations. AdImpact, a political advertising research firm, estimates that spending on political ads alone will reach $10.8 billion, an increase of over 20% from 2022.

Business tycoons making a big entry into American politics

The individual donors who have contributed the most to federal committees in the 2026 election cycle (total)

Currently, most of the hefty funds are flowing into the Republican camp: the Republican Party, super political action committees related to the House and Senate, along with Trump’s political committee and MAGA Inc. raised a total of $917 million in the first quarter of this year.

This amount is 3.5 times the total funds raised during the same period by the Democratic National Committee and its House and Senate committees, and super political action committees totaling $262 million. However, in terms of overall campaign fundraising, the Democratic candidates' fundraising efforts still surpass their Republican counterparts.

These figures are only for publicly traceable political contributions. What is known as "dark money"—donations made by donors through nonprofit organizations that do not publicly disclose their sources—has been steadily increasing in recent elections, a trend that will continue into 2026.

The core of this capital competition is the struggle for control of Congress and determining policy directions for the last two years of President Trump's term. However, for super-rich individuals making significant donations, equally important issues await negotiation: whether California will implement a billionaire tax, what regulatory landscape the artificial intelligence and cryptocurrency industries will face, and the final patterns of local elections in various states.

Google co-founder Sergey Brin has invested over $60 million in California in the past four months, primarily opposing proposed wealth tax legislation. Chris Larsen, co-founder of Ripple, has also spent millions resisting the billionaire tax proposal while donating to organizations attempting to influence the political landscape in California; his company has donated $48.5 million to the pro-cryptocurrency political action committee Fairshake.

Illinois Governor and potential 2028 presidential candidate JB Pritzker donated $10 million to a political action committee to support Deputy Governor Juliana Stratton's candidacy, who has secured the Democratic nomination for the Senate seat in the state.

From May to June, several important primary elections are upcoming, including the battle for Mitch McConnell's Senate seat in Kentucky and a fiercely contested gubernatorial election in California, while the peak of election fundraising has yet to arrive.

Some top donors from previous elections remain low-key, and as Election Day approaches on November 3, it is expected that new wealthy individuals will join the ranks of top donors.

For instance, hedge fund Citadel founder Ken Griffin, a core donor in the 2018 and 2022 elections, has remained discreet during this midterm election. His current donations primarily support Florida's state-level political committees backing the Republicans; he relocated his family residence and business operations to the state four years ago.

Below are some of the wealthiest individuals who have donated the most to federal political committees in this midterm election cycle. None of the individuals listed have responded to media requests or directly declined to comment.

Details of Top Donors

George Soros

Illustration: 731; Image source: Getty Images

Total donations: $102.6 million

Main donation allocations: $102 million to Democracy PAC; $265,500 to the Democratic Senatorial Campaign Committee; $250,000 to the Democratic Congressional Campaign Committee.

Impact interpretation: The 95-year-old Soros has long engaged in political activities and funded progressive causes through foundations, political action committees, and nonprofits associated with the Democratic Party and liberal factions. His founded Democracy PAC is run by his son Alex, directing funds to the Working Families Party and progressive candidates in local prosecutorial elections; his fully funded 501(c)(4) organization Fund for Policy Reform has also contributed $10 million to the redistricting battles in California.

Elon Musk

Illustration: 731; Source: Bloomberg

Total donations: $84.8 million

Main donation allocations: $50 million to America PAC; $10 million to Fight for Kentucky PAC; $10 million each to Senate Leadership Fund and Congressional Leadership Fund.

Impact interpretation: This co-founder of Tesla and SpaceX fully supports Trump's second-term campaign, and even though he has had friction with the president, he plans to continue deep involvement in politics. He operates independently, with most of his funds directed to his own America PAC, while also making significant donations to mainstream political action committees that support Republicans in the Senate and House. One major reason for the 54-year-old Musk’s continued political involvement is to support his ally JD Vance's bid for the 2028 presidential election. As a first step, he assisted Nate Morris, who aligns with the vice president's positions, in running for Mitch McConnell’s Senate seat in Kentucky, although Morris suspended his campaign last week.

Jeff Yass

Illustration: 731; Photographer: Eddie Maluke

Total donations: $81.8 million

Main donation allocations: $20 million to V-PAC supporting Ohio gubernatorial candidate Vivek Ramaswamy; $16 million to MAGA Inc.; $15 million to School Freedom Fund.

Impact interpretation: The founder of trading firm Susquehanna International Group is one of the largest individual donors to Trump's core fundraising platform MAGA Inc. Jeff Yass’s business interests align closely with the president's policy agenda: Trump halted the plan to ban TikTok in the U.S. last year, while Jeff Yass and his firms hold shares in TikTok's parent company ByteDance. The 67-year-old prefers to emphasize his funding of political action committees and candidates that support school choice. In an interview with The Washington Post, he stated: "I found an effective way to help millions of children escape the difficulties of growing up."

Greg Brockman & Anna Brockman

Photo illustration: 731; Source: Getty Images

Total donations: $50 million (each $25 million)

Main donation allocations: $25 million to Leading the Future; $25 million to MAGA Inc.

Impact interpretation: OpenAI co-founder Greg Brockman and his wife Anna are core contributors to Trump’s super political action committee and have also donated to Leading the Future PAC, which focuses on artificial intelligence issues. Last November, Trump invited the Brockmans to a dinner with Saudi Crown Prince Mohammed bin Salman. The 38-year-old Greg Brockman plans to increase support for Leading the Future this year, stating that the shift in public opinion towards supporting candidates aligned with artificial intelligence development is crucial for humanity’s future.

Richard Uihlein

Total donations: $45.3 million

Main donation allocations: $39.6 million to Restoration of America PAC; $4 million to Fair Courts America; $1 million to Northwoods Future PAC, which supports Transportation Secretary Sean Duffy's son-in-law Michael Alfonso's candidacy for the Wisconsin House of Representatives.

Impact interpretation: The 80-year-old Richard Uihlein is an heir of the Schlitz beer family fortune, a hardliner in conservatism, and co-founder of office supply company Uline. He is the main funder of Restoration of America PAC, which focuses on election integrity, strengthening national defense, anti-abortion policies, and endorsing conservative political candidates. He also advocates for deregulation in the long-haul trucking industry, arguing that current rules impose excessive burdens on the freight industry.

Marc Andreessen

Photo illustration: 731; Source: Getty Images

Total donations: $44.7 million

Main donation allocations: $25 million to Leading the Future; $11.9 million to Fairshake; $6 million to MAGA Inc.

Impact interpretation: The 54-year-old Marc Andreessen has been a bipartisan donor, previously supporting Barack Obama in 2008. In July 2024, he publicly expressed support for Trump due to differences with Joe Biden regarding cryptocurrency and artificial intelligence regulatory issues. This Silicon Valley venture capitalist frequently speaks with Trump and participates in drafting federal-level technology policies. In addition to donating personally to Trump’s campaign in 2024, his firm also funds two major super political action committees: Fairshake focusing on cryptocurrency and Leading the Future in the field of artificial intelligence.

Ben Horowitz

Photo illustration: 731; Source: Getty Images

Total donations: $44.4 million

Main donation allocations: $25 million to Leading the Future; $11.9 million to Fairshake; $6 million to MAGA Inc.

Impact interpretation: During the 2024 presidential election, Ben Horowitz and his partner Marc Andreessen endorsed Trump due to their positions on technology policy and adopted a dual strategy for donations. He has traditionally leaned toward the Democratic camp and previously supported candidate Kamala Harris out of personal ties. Since then, the 59-year-old Ben Horowitz has focused donations on specific issues, with most funding in this election cycle directed toward political action committees related to artificial intelligence and cryptocurrency, along with significant donations to MAGA Inc. and six-figure donations to the Senate Leadership Fund PAC.

Miriam Adelson

Photo illustration: 731; Source: Getty Images

Total donations: $42.6 million

Main donation allocations: $30 million to Senate Leadership Fund; $10 million to Congressional Leadership Fund; $1 million to Security is Strength PAC, supporting South Carolina Senator Lindsey Graham.

Impact interpretation: The 80-year-old American-Israeli doctor Miriam Adelson, alongside her late husband casino mogul Sheldon Adelson, has been a staunch supporter of Trump, with Miriam Adelson donating $95 million personally in 2024. The couple has also significantly influenced Trump’s administration's policies towards Israel, such as advocating for moving the U.S. Embassy in Israel to Jerusalem.

Paul Singer

Photo illustration: 731; Source: Getty Images

Total donations: $33.9 million

Main donation allocations: $14.5 million to Senate Leadership Fund; $8 million to Congressional Leadership Fund; $2.5 million to United Democracy Project, linked to pro-Israel lobbying organization AIPAC.

Impact interpretation: This radical asset management mogul was initially skeptical of Trump, supporting Nikki Haley during the 2024 Republican primaries, but subsequently aligned with Trump’s second-term campaign, especially agreeing with the government's support for Israel, a hardline stance towards Iran, and measures to combat anti-Semitism on college campuses. The 81-year-old Paul Singer has also funded several political action committees in key congressional districts, including two organizations attempting to expel Kentucky Republican representative Thomas Massie, who has drawn Trump's ire for supporting the release of Jeffrey Epstein-related files and voting against military aid to Israel in 2023.

Diane Hendricks

Photo illustration: 731; Source: Getty Images

Total donations: $25.79 million

Main donation allocations: $25 million to MAGA Inc.; $413,000 to the Republican National Committee; $182,000 to Defend Our Majority to support Republican House candidates.

Impact interpretation: The 79-year-old Diane Hendricks is the richest person in Wisconsin, co-founder of the construction supply company ABC Supply, and a conservative donor who has long supported Republican candidates. In 2016, she supported then-Wisconsin Governor Scott Walker's presidential candidacy, subsequently backing Trump. During Trump's first term, he appointed her to the National Economic Council. This year, she also attended the Winter Olympics closing ceremony as a member of the presidential delegation.

Research Methodology Description

Bloomberg News compiled records filed with the U.S. Federal Election Commission, counting individual and institutional donations of $10,000 or more to parties and political action committees during the period from January 1, 2025, to March 31, 2026.

The names of donors have been standardized for analysis, encompassing individuals, corporations, dark money groups, trade associations, labor unions, state political committees, and U.S. tribal institutions. If a joint fundraising committee splits contributions attributed to individual members, all are accounted according to official guidelines.

Significant donations by organizations are also verified, tracing the backgrounds of individuals with substantial contributions. To avoid double counting, internal fund transfers from joint fundraising committees to beneficiary organizations are excluded.