$2 Billion From 20 Top Donors Fuels the Midterms

“At the end of a campaign, the cash really starts flowing,” the New York Times reports.

“Hundreds of millions of dollars have flooded the political system since August, when The New York Times last ranked the top 20 donors in the midterms. Our new ranking, analyzing contributions made through the most recent filing deadline in mid-October, shows that the updated top 20 have pumped roughly $2 billion into federal races this cycle.”

“These megadonors are playing an outsize role in the most expensive midterm election, as measured in political advertising, since at least the 2018 cycle, according to data from AdImpact, a media tracking firm. Their $2 billion will fund a range of campaign operations, but to put the amount into perspective, it’s equivalent to roughly 15 percent of all the money that will be spent on ads this cycle.”