MAGA Inc. Shatters Fundraising Records with $198.9 Million Raised Post-Election
The primary super PAC backing President Trump, MAGA Inc., has amassed $198.9 million between the election and the end of June. This remarkable fundraising achievement is unprecedented so early in a presidential term, especially given that Trump is constitutionally barred from running again.
In comparison, super PACs supporting President Joe Biden raised $32.5 million within a similar timeframe following his election. During Trump’s initial term, supporting super PACs had only garnered $2.5 million by this point, and Barack Obama received less than $500,000 in super PAC support by mid-2013.
Super PACs emerged in 2010 post the Citizens United decision, which deregulated campaign financing for entities independent of political campaigns and parties. The ruling assumed a lack of corruption if candidates and parties don’t control the money directly. However, significant fundraising and close ties between super PACs and politicians question this assumption.
Apart from MAGA Inc., the nonprofit Securing American Greatness, a dark money group not disclosing donors, also supports Trump, though its fundraising numbers remain unknown. Both groups were led by Taylor Budowich in 2024, who had previous roles in Trump’s 2020 campaign and Save America PAC. Anonymous sources suggest these groups together have raised $400 million, yet this is unverified. Nonetheless, records confirm a $13.8 million transfer from the dark money group to the super PAC this year.
MAGA Inc. has retained most of its funds, whereas Securing American Greatness expended $17 million earlier on advertisements pressing Congress to endorse Trump’s budget. The extent of future spending by MAGA Inc. and Securing American Greatness on congressional races remains uncertain.
Notably, 96% of MAGA Inc.’s funds arise from donors contributing over $1 million each. The largest contribution of $25 million was collectively from Energy Transfer and its chairman Kelcy Warren, benefitting from Trump’s deregulation of oil and gas.
The second major donor, Jeffrey Yass, contributed $16 million. Yass’s firm, Susquehanna International Group, holds a substantial stake in TikTok’s parent company and has faced legislative challenges over the app.
Crypto.com, under Foris Dax Inc., donated $10 million. Previously, it had made minimal political contributions, including $1 million to Trump’s inaugural fund in 2025. The company recently sued the SEC regarding token regulations, but the agency opted against enforcement in March.
Elon Musk contributed $5 million to MAGA Inc. shortly after revisiting a public feud with Trump. Despite his donation, Musk later criticized Trump’s policies and supported a congressional opponent of Trump’s legislation. Musk was a significant political donor in 2024, spending over $290 million aiding Republicans.
Other $5 million contributors include Blockchain.com, Extremity Care, Tools for Humanity, Ronald Lauder, and United Healthcare Services. United, previously aligned with Democratic support, benefits from recent federal rate adjustments under Medicare Advantage.
The fundraising success of MAGA Inc. in circumventing the traditional post-election lull demonstrates that super PACs continue to wield significant influence, challenging prior expectations of their independence as envisioned in Citizens United.
