America's Richest Donors Are Tilting Republican — 16 of the Top 20 Billionaires Back GOP as Crypto, AI and Deregulation Shape Donations: Report

In the upcoming battle for Congress, a significant number of America’s wealthiest donors are reportedly throwing their weight behind the Republican Party. ,16 are backing the Republican campaign, with George Soros being a prominent Democratic supporter. Some of these mega-donors are supporting candidates who favor deregulation of cryptocurrency and gambling, or the advancement of AI, according to the Financial Times on Wednesday. “What you’re seeing is a mild break from expectations,” Stanford political scientist Adam Bonica told the publication.

He observed that while it’s not uncommon for leading donors to favor Republicans, the balance in this election is “especially skewed”. 8 billion raised for the 2025-26 election cycle is from the 20 largest mega-donors, as per the report. “We now have a system that is geared towards and depends on these ultra-wealthy mega-donors,” stated Brendan Glavin, research director at OpenSecrets. Citadel CEO Ken Griffin has also backed Republican candidates through multiple political groups, including organizations supporting races in Wyoming and Tennessee, while contributing about one-third of a group’s funding opposing Alaska Democratic challenger, the report stated.

Read Also: Trump Says It's 'Easy' to Handle $5,000 Payments if Republicans Win 2026 Midterms: 'We're Taking in So Much Money' Crypto Donors Build Political War Chest Notable contributions have also come from special interest groups. Crypto entrepreneurs Cameron and Tyler Winklevoss donated approximately $11 million, while tech giants Marc Andreessen, Ben Horowitz and their spouses have contributed $18 million. OpenAI Co-Founder Greg Brockman and his spouse donated $25 million, the report added. The cryptocurrency industry has built one of the largest political war chests of the election, backing candidates who support the sector.

Crypto super PAC Fairshake has raised more than $99 million in individual contributions, with nearly all of the funding coming from a handful of companies and investors, including Coinbase Global Inc. (NASDAQ: COIN ), Ripple, Andreessen and Horowitz. GOP Midterm Cash Gets Musk, Trump Boost Earlier this month, House Speaker Mike Johnson ‘s meeting with billionaire Elon Musk sparked speculation about potential financial backing for the GOP’s midterm campaign, adding to the momentum.

Musk donated more than $250 million to President Donald Trump ’s 2024 re-election campaign and is reportedly planning to spend over $100 million on the 2026 midterms, potentially supporting House Republicans through his America PAC. Meanwhile, Trump said he plans to spend a large portion of MAGA Inc. ’s roughly $850 million war chest to support Republican candidates in the 2026 midterms, along with some of his own funds. “We’re in very good shape,” said the President.

Big Tech Prepares For Midterm Shift A report in August, however, stated that companies previously aligned closely with Trump are strengthening ties with Democrats as they hedge against a possible change in House control after the 2026 midterms. Meta Platforms Inc. (NASDAQ: META ) reportedly is making sizable donations to Democrats, while Paramount Skydance (NASDAQ: PSKY ) and Kalshi are hiring former Democratic aides for government relations. Big tech firms including Meta and Palantir Technologies Inc.

(NASDAQ: PLTR ) are also preparing for possible congressional information requests, hearings, and potential subpoenas tied to their Trump-era involvement. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. Read Also: Trump Slams Supreme Court Main-In Voting Ruling, Says Republicans Got Another 'Bad Decision': Justices Have 'Let Our Country Down' Image via Shutterstock