President Donald Trump’s primary super PAC raised over $102 million in the second half of 2025, carrying a war chest stocked with hundreds of millions of dollars into the midterms.
That massive sum, combined with even greater fundraising in the first half of the year and minimal spending throughout 2025, leaves the PAC with approximately $300 million cash on hand, positioning the president’s allies to wield massive influence over the midterms.
The disclosure, which which was reported in a filing submitted to the Federal Election Commission this week and goes through Dec. 22, shows MAGA Inc. with $294 million cash on hand. In a statement, a MAGA Inc. spokesperson said the PAC ended the year with $304 million cash on hand.
“Thanks to President Trump’s leadership, MAGA Inc will have the resources to help candidates who support President Trump’s America First agenda of securing our border, keeping our streets safe, supercharging our economy, and making life more affordable for all Americans,” the organization said.
The enormous sum of money doesn’t represent the entire war chest at Trump’s disposal; several affiliated PACs have continued to raise money in support of the president, adding to the growing stockpile of cash that Republicans around the country will hope to tap into as they seek to maintain majorities in Congress in November.
MAGA Inc. made its first independent expenditures of the year in support of Rep. Matt Van Epps, who won a hard-fought special election in Tennessee’s 7th District in December. The super PAC spent $1.6 million to help boost Van Epps over Democrat Aftyn Behn in a district Trump won by 22 points in 2024.
The super PAC, which does not face donation limits, drew contributions from regular GOP donors and from leaders in the artificial intelligence and cryptocurrency industries.
OpenAI President Greg Brockman gave $25 million and Foris DAX Inc., the U.S.-based arm of the company that operates Crypto.com, contributed $20 million on top of an additional $10 million it gave at the beginning of 2025.
Private equity investor Konstantin Sokolov donated $11 million, and NASA Administrator Jared Isaacman, who was confirmed in December despite Trump withdrawing his nomination in May before renominating him, contributed $2 million to the PAC last year, including $1 million in the second half of the year.
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