President Donald Trump’s flagship super PAC is sitting on an unprecedented war chest as the 2026 midterm elections take shape.
The super PAC, MAGA Inc., boasts a cash balance of nearly $200 million, according to a report it filed late Thursday with the Federal Election Commission.
During the first six months of this year, the super PAC raised nearly $177 million, with numerous tech industry executives contributing six- and seven-figure sums. Some of the money arrived in the form of liquidated cryptocurrency payments, MAGA Inc.’s disclosure indicates.
Most notable among MAGA Inc. donors: Elon Musk, who made a $5 million donation to the president’s super PAC on June 27, weeks after his chaotic and public falling out with the president.
Other prominent MAGA Inc. donors of late include:
- $15 million from Jeff Yass, a major investor in TikTok parent company ByteDance, whose donation to the PAC was its single largest during the first half of this year
- $5 million from Blockchain.com
- $5 million from Ronald Lauder, an Estée Lauder cosmetics heir and pro-Israel advocate
- $3 million from Marc Andreessen, the tech billionaire Trump adviser
- $1 million from Altria, the tobacco giant
- $1 million from chip maker Advanced Micro Devices
- $1 million from the Advanced Medical Technology Association
The Winklevoss twins, Cameron and Tyler, who have been wielding influence in the Trump White House, each donated about half a million.
Billionaire Timothy Mellon donated 70,000 stock shares of CSX, the railroad company, valued at nearly $2 million.
Small Business Administration Administrator Kelly Loeffler is the only cabinet official to have donated this year ($2.5 million), although Trump cabinet officials, including Secretary of Commerce Howard Lutnick, and former WWE executive and Education Secretary Linda McMahon, have donated to the super PAC in the past.
Super PACs like MAGA Inc. can legally raise and spend unlimited amounts of money to advocate for and against political candidates, and they’ve increasingly played a dominant role in politics since their legalization shortly after the Supreme Court’s 2010 decision in Citizens United v. FEC.
Corporations and trade associations can directly contribute unlimited amounts of money to super PACs — something that federal election law prohibits for candidate committees and political party committees. MAGA Inc. benefitted from numerous corporate contributions this year, FEC records indicate.
MAGA Inc. has hosted multiple events where the entry fee was at least $1 million a plate for dinner, with Trump in attendance.
The super PAC has spent only about $4.6 million so far this year, mostly on legal, fundraising and consulting expenses. A slice of that money has benefitted Trump directly, with MAGA Inc. spending more than $60,000 at Trump properties — $40,000 at the Mar-a-Lago Club in Florida and $20,000 at Trump National Golf Club in Northern Virginia.
Despite being term-limited himself, Trump wields enormous influence over the 2026 midterm elections — both during Republican primaries and the general election.
MAGA Inc. has already targeted Rep. Thomas Massie, a Republican and consistent thorn in the president’s side, with an $800,000 anti-Massie ad buy in June.
The New York Times previously reported that Trump’s super PAC is closely aligning with other congressionally focused Republican super PACs in an effort to retain majorities in the House and Senate.