Top 15 donors give $1.5 billion to US midterm elections

The top 15 donors to the 2026 US midterm elections have contributed over $1.5 billion, according to Federal Election Commission data, with spending potentially reaching historic levels. Elon Musk is the largest donor, giving over $365 million, including $278 million since July, making him the biggest contributor to a federal election since 2010. Five of the top 15 donors come from tech, AI, and cryptocurrency sectors, with major contributions to Republican and Democratic super PACs. Four anonymous nonprofit groups are among the top donors, raising concerns about transparency. Total advertising spending is projected at $11.6 billion, exceeding the $8.9 billion in 2022 and surpassing the 2024 presidential election year total.