It’s still exceedingly difficult to buy oneself a seat in Congress.
During the 2026 midterms, a record number of wealthy Americans — 69 — have spent more than $1 million of their own money to support their campaigns for federal office.
And with primary season ending in the next several days with contests in New Hampshire, Rhode Island and Delaware, about two-thirds of these self-funding candidates have turned out to be losers who couldn’t advance to the November general election.
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Those who bet big on themselves to win their races for Congress collectively loaned their campaigns $160 million.
At the extreme, former Rep. David Trone burned through about $25 million of his own cash only to lose in his Maryland 6th Congressional District primary by 7 percentage points to fellow Democratic Rep. April McClain Delaney.
In Arizona, businessman Daniel Keenan spent $1.6 million on his failed bid to replace Republican Rep. Andy Biggs.
Keenan says the run was well worth it even if he lost the Republican primary to former county sheriff Mark Lamb in July.
“I did it to contribute to my country, to do the best I can to make my country better off for my kids,” he said. “It was never for personal gain or ego or anything like that.”
Keenan also expects to one day run again: “I worked my butt off … went from polling at 1% to capturing nearly 42% of the vote. I think we ran a really good campaign and set myself up well for future runs.”
Still, Keenan said he was surprised by “the amount of prominent Republicans who privately reached out to me and supported me” but wouldn’t do so publicly.
“I was the most Trump-aligned candidate and again defending all those policies at every chance I could, and it was difficult not getting the support from the White House,” he said.
On the other end of that spectrum is Thomas Chalifoux, a retired Army colonel and businessman who sought the Republican nomination in Florida’s 9th Congressional District.
Chalifoux placed third in the Republican primary, having spent upward of $2 million on his ultimately failed campaign. It was a worse showing than his 2024 bid for the same seat, which saw him secure the GOP nomination but lose in the general election to Democratic Rep. Darren Soto.
That race also cost him upward of $2 million — a fraction of his net worth, which sits at around $270 million, per his most recent federal financial disclosure. Still, he is quick to point out: “I started with nothing, just like Elon Musk.”
Chalifoux previously taught military strategy at the Army Command and General Staff College and, more than anything, seemed disappointed he would not have the chance to go against the “bunch of rubber stamps in Congress” who have supported President Donald Trump’s war with Iran.
“The Iran ‘Epic Fury’ is just poorly, poorly planned. We’ve got a mess on our hands, and it makes American military power look much worse,” Chalifoux said. Trump “created a climate where no one wants to disagree because he’s very vindictive.”Might he try a third time come 2028?
“I don’t know. I’m 78 … people look at that as being too old. I’m not too old,” he said, noting he is a “world-class bodybuilder” whose mother “is over 100, so I’ve got that longevity in my family.”
Earlier this year, Keith Gross and John Fleming, candidates for Florida’s 2nd Congressional District and U.S. Senate in Louisiana, respectively, each spent around $12 million on their failed primary campaigns.
Democrat Peter Chatzky entered, then exited, the race for New York’s 17th Congressional District after the resurfacing of lewd social media posts in March. He ultimately recouped $10.7 million of the $11.3 million he had loaned his campaign, according to Federal Election Commission records.
The number of self-funders who ultimately lost their elections is expected to grow in November.
Don Tracy and Barb Regnitz, the Republican nominees for U.S. Senate in Illinois and Indiana’s 1st Congressional District, respectively, each put in upward of $2 million into their campaigns so far. But both are vying for “solid” or “likely” Democratic seats and are expected to lose.
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