Until recently, the top fundraiser for this election was Jon Ossoff, but he has now slipped into the No. 2 position behind James Talarico.
State Rep. James Talarico, the Democratic nominee for US Senate in Texas, was the top individual fundraiser of the 2026 midterms, bringing in $146.3 million through mid-October, according to the last reports filed to the Federal Election Commission before the election.
Other Democrats: Georgia Democratic Sen. Jon Ossoff ranked second, with $136.6 million, and former Democratic Sen. Sherrod Brown — attempting a comeback in Ohio this year — ranked third, at $68.4 million.
More than half of Talarico’s haul, $75.3 million, came from small-dollar donors — those giving less than $200 total. It’s a crucial demographic, able to give more without hitting contribution limits while also reflecting grassroots enthusiasm.
There's definitely enthusiasm for Talarico. What CNN doesn't mention in this story is that most of it comes from other states.
Of the itemized contributions that went to Talarico and Paxton, about 47% and 73% came from within Texas, respectively. Of their out-of-state contributions, Talarico saw the most come from California and New York while Paxton received the most from Florida and California.
In case that wasn't clear, 53% of Talarico's itemized contributions came from out of state. Itemized contributions (those over $200) represent about half of his total fundraising. It's not clear if the other half, the small dollar contributions, came from Texas or somewhere else. My guess is somewhere else. Talarico is exactly the kind of Texas Senator they'd like to see in New York or California.
All of the top 10 fundraisers this election on the Senate side have been Democrats. On the House side, 8 of the Top 10 were Democrats including AOC in top place.
Of course that isn't the complete picture. Overall, this midterm is expected to be the most expensive in history by quite a lot, even adjusted for inflation.
In 2022 the midterms cost $8.9 billion, or $10.2 in inflation-adjusted dollars. With the 2026 election expected to reach $11.9 billion, it will surpass the total spent on congressional elections in 2024 as well.
Outside spending, driven by super PACs, is fueling the increased spending. In 2022, outside spending totaled $2 billion. Our analysis shows it is expected to reach $3.9 billion in 2026, an 85% increase.
And when it comes to those outside donations, Elon Musk was the biggest funder, followed by several more big donors giving to Republicans.
Tech mogul Elon Musk once again led all political donors, contributing more than $445 million to Republican candidates, political action committees and outside spending organizations ahead of the 2026 midterm election, according to an OpenSecrets analysis of federal campaign finance disclosures.
Musk also topped the donor rankings during the 2024 federal election cycle with more than $291 million. He was one of three donors to surpass $100 million this cycle. The others in the top three were shipping supplies company founder Richard Uihlein and his wife, Elizabeth, and trading firm co-founder Jeff Yass. They combined to contribute more than $706 million, all supporting Republican candidates and conservative causes.
Former New York City Mayor Michael Bloomberg, who ranked fourth overall, was the top donor to Democratic causes and candidates, contributing $83.4 million. The top 10 individual donors contributed $1.1 billion combined.
The NY Times published its own list of top donors which is somewhat different, but also has Musk in the top spot.
OFFICIAL NEW YORK TIMES LIST OF THE BIGGEST MIDTERMS DONORS: 1. Elon Musk, $446 million 2. Dick + Liz Uihlein, $150 million 3. One Nation, $138 million 4. Marc Andreessen + Ben Horowitz, $116 million 5. Jeff Yass, $110 million 6. Majority Forward, $104 million 7. George + Alex Soros, $103 million 8. House Majority Forward, $97 million 9. Mike Bloomberg, $85 million 10. Ripple Labs + Chris Larsen, $73 million 11. Miriam Adelson, $68 million 12. American Action Network, $64 million 13. Coinbase, $55 million 14. Paul Singer, $54 million 15. Cameron + Tyler Winklevoss, $53 million 16. Greg + Anna Brockman, $50 million 17. American Prosperity Alliance, $48 million 18. Koch Inc., $47 million 19. Reid Hoffman, $42 million 20. Economic Opportunity Fund, $42 million
— Teddy Schleifer (@teddyschleifer) November 1, 2026
You can read the full list here. If money is the key to politics then Republicans should do pretty well tomorrow night. My own feeling is that money is pretty overrated in these races. Kamala Harris spent a lot of it and look what happened to her. More important than money is control of the media and that's something the left can usually count on in an election year.
Editor's Note: The Democrat Party has been infected by socialism, and it's spreading FAST. Democrats are claiming there's nothing to worry about, but we know the truth.
Help us continue to shine a light on the socialist takeover by joining HotAir VIP. Use promo code FIGHT to get 60% off your VIP membership.
Editor’s Note: The 2026 Midterms will determine the fate of President Trump’s America First agenda. Republicans must maintain control of both chambers of Congress.
Help HotAir continue to report on the Democrats’ radicalism and inform voters as our nation faces a crossroads. Join HotAir VIP and use promo code FIGHT to receive 60% off your membership.
Join the Conversation
VIP members get the ability to comment on articles.