Who is funding the 2026 US midterm elections?

Wealthy individuals, businesses and political organisations are pouring billions into the election campaign, mostly through Super Political Action Committees (Super PACs).

According to an Al Jazeera analysis of Federal Election Commission data, the 50 largest donors and organisations have contributed a combined $2.77 billion so far. Republican-aligned donors account for $1.67 billion, while Democratic-aligned contributors have given $832 million.

Tesla and SpaceX chief Elon Musk leads individual donors with $446 million in contributions.

Republican-aligned donors also include Uline founders Elizabeth and Richard Uihlein, who donated $150 million, and businessman Jeff Yass and his wife, who contributed $110 million.

Among Democratic donors, George Soros contributed $102 million, former New York mayor Mike Bloomberg $84 million, and LinkedIn co-founder Reid Hoffman and his wife $41 million.

Most large contributions are directed to Super PACs rather than candidates. These groups can raise and spend unlimited funds to support or oppose candidates but cannot coordinate spending with their campaigns.

Some nonprofit organisations, including One Nation and Majority Forward, are not required to disclose their funding sources, making it difficult for voters to identify the origins of political donations. Such funding is known as 'dark money'.

Among major corporate donors, Coinbase contributed $57.8 million, Ripple $49.6 million, Koch $46.8 million and DraftKings $40.4 million.

Four individuals have each donated more than $100 million during the election cycle.

Harvard Law School professor Lawrence Lessig warned that the concentration of political funding among a handful of wealthy individuals could limit ordinary citizens' influence over electoral politics, raising concerns about democratic representation.

*Source: Al Jazeera*

-AJM