FROM TECH GIANTS TO ANONYMOUS NONPROFITS, THE BIGGEST DONORS IN US MIDTERMS

Technology billionaires, cryptocurrency companies and nonprofit organisations are contributing huge sums ahead of the 2026 United States midterm elections.

An AFP analysis of Federal Election Commission records found that the 15 largest contributors had donated more than $1.5 billion as of October 21.

Elon Musk led the individual donors with contributions exceeding $365 million, largely supporting Republican-aligned groups.

Venture capitalists Marc Andreessen and Ben Horowitz together contributed more than $113 million, including funding for groups focused on artificial intelligence and cryptocurrency policy.

Coinbase and Ripple Labs, alongside their executives, also featured among the major contributors.

Large donations extend beyond the technology sector. Republican supporters Richard and Elizabeth Uihlein contributed more than $135 million, while longtime Democratic donor George Soros gave at least $102 million.

Nonprofit groups are another significant funding source. Republican-aligned One Nation and Democratic-aligned Majority Forward were among the biggest contributors.

These organisations are publicly identifiable, but their underlying donors are not necessarily disclosed—a distinction central to concerns about “dark money.”

Transparency advocates say voters should be able to identify who finances political advertising as large contributions flow into the battle for control of Congress.