Susquehanna International Group's billionaire founder, Jeff Yass, has been actively involved in this election season, having donated over $80 million to midterm election candidates and related political causes.
According to data compiled by Bloomberg News, this donation places him third among individual donors in this election cycle, following only George Soros and Elon Musk.
While Soros and Musk's donations primarily went to their respective super PACs, Jeff Yass is one of the top donors to Trump's MAGA Inc. and has also provided direct funding to numerous beneficiaries.
His donations cover a range of causes he actively supports — such as a $15 million donation to the School Freedom Fund advocating for school choice — as well as various political candidates, including a $20 million contribution to a federal political action committee supporting Ohio gubernatorial candidate Vivek Ramaswamy.
His donations have also supported some niche political causes, including a $675,000 donation to the Aurora Action Network, an organization focused on abolishing Alaska's ranked-choice voting system, a cause quite distant from Jeff Yass's home state of Pennsylvania. Jeff Yass himself did not respond to media requests for comments.
According to the Bloomberg Billionaires Index, Jeff Yass has a net worth of $83.8 billion. However, analysis of current major donors reveals that he is just one player in the most expensive midterm elections in history.
Bloomberg's analysis highlights that during this election cycle, the Federal Election Commission has raised over $4.7 billion from individuals, corporations, dark money groups, and other entities, not including donations at the state and local levels. The election ad research firm AdImpact estimates that political ad spending alone will reach $10.8 billion, a more than 20% increase from 2022.
The Business Titans Making a Big Splash in U.S. Politics
Currently, the majority of massive funds are flowing into the Republican camp's coffers: the Republican National Committee, congressional super PACs, and political committees under Trump, along with MAGA Inc., raised a combined total of $9.17 billion in the first quarter of this year.
This amount is 3.5 times the fundraising total of $2.62 billion by the Democratic National Committee and its congressional committees and super PACs during the same period. However, in terms of overall campaign fundraising, the Democratic candidate camp's fundraising scale still exceeds that of their Republican counterparts.
The above figures only represent publicly traceable political donations. The so-called "dark money" – donations where contributors channel political contributions through nonprofit organizations that are not required to disclose the funding sources – has continued to increase its share in political donations over the past few election cycles, a trend that is expected to continue in 2026.
Google co-founder Sergey Brin has injected over $60 million in the past four months in California, primarily to oppose the proposed wealth tax bill. Ripple co-founder Chris Larsen has similarly spent millions to oppose the billionaire tax proposal while donating to organizations seeking to influence California's political landscape; his company also donated $48.5 million to the pro-cryptocurrency political action committee Fairshake.
Illinois Governor and potential 2028 presidential candidate JB Pritzker made a $10 million contribution to a political action committee to support Illinois Lieutenant Governor Juliana Stratton's candidacy, who has secured the Democratic Party's nomination for the state senate seat.
May through June will see several key party primaries, including the contentious battle for Kentucky Senator Mitch McConnell's seat and the hotly contested California gubernatorial race, with the peak of election fundraising yet to come.
Some of the top donors from previous elections have remained relatively low-key, and as the November 3 election day approaches, it is expected that new billionaires will join the ranks of top donors.
For example, Citadel hedge fund founder Ken Griffin, a key donor in the 2018 and 2022 elections, has been discreet in this midterm election cycle. His current donations are primarily directed towards a Florida-based Republican-supporting state-level political committee, where he and his family relocated their residence and business four years ago.
The following is a list of the wealthiest donors who have contributed the most to the Federal Election Commission during this midterm election cycle. All individuals on the list have either not responded to media requests for interviews or have outright declined to comment.
Top Donor Details
George Soros
Total Donation: $1.026 billion
Main Donation Destinations: Donated $1.02 billion to Democracy PAC; $265,000 to the Democratic Senatorial Campaign Committee; $250,000 to the Democratic Congressional Campaign Committee.
Impact Analysis: The 95-year-old Soros has long been involved in political activities and funding progressive causes. He strategically deploys funds through foundations, political action committees, and allied non-profit organizations of the Democratic Party and the liberal camp. His Democracy PAC, operated by his son Alex, channels funds to the Working Families Party and progressive candidates in local prosecutor elections. His fully-funded 501(c)(4) organization, the Fund for Policy Reform, has also injected $10 million into California's redistricting game.
Elon Musk
Total Donation: $84.8 million
Main Donation Destinations: Donated $50 million to America PAC; $10 million to Fight for Kentucky PAC; $10 million each to the Senate Leadership Fund and Congressional Leadership Fund.
Impact Analysis: The Tesla and SpaceX co-founder is strongly supporting Trump's bid for a second term, despite occasional frictions in their relationship, and intends to continue deep involvement in politics. With his independent style, Musk predominantly invests in his founded America PAC while also making significant donations to mainstream political action committees supporting Republican candidates in both chambers. Musk, aged 54, continues to be a major player in politics, with one of the driving factors being his support for ally JD Vance's push for the 2028 presidential election.
As a first step in his layout, he previously supported Nate Morris, who holds a position similar to the Vice President, in his bid for Kentucky's Mitch McConnell Senate seat, competing in the Republican primary. However, Morris dropped out of the race last week.
Jeff Yass
Total Donations: $81.8 million
Primary Donation Destinations: Donated $20 million to support Ohio gubernatorial candidate Vivek Ramaswamy's V-PAC; donated $16 million to MAGA Inc.; donated $15 million to the School Freedom Fund.
Influence Interpretation: The founder of the trading firm Susquehanna International Group, he is one of the largest individual donors to the core Trump fundraising platform, MAGA Inc. Jeff Yass's business interests align closely with the presidential policy agenda: Trump halted plans last year to ban TikTok in the U.S., and Jeff Yass and his affiliated entities hold shares in TikTok's parent company, ByteDance.
At 67 years old, he prefers to emphasize externally that he primarily funds political action committees and candidates supporting school choice. In an interview with The Washington Post, he stated, "I have found an effective way to lift tens of millions of children out of the cycle of poverty."
Greg Brockman & Anna Brockman
Total Donations: Totaling $50 million ($25 million each)
Primary Donation Destinations: Donated $25 million to Leading the Future; donated $25 million to MAGA Inc.
Influence Analysis: OpenAI co-founder Greg Brockman and his wife Anna are key donors to the Trump Super PAC and have also made donations to the Leading the Future PAC, which focuses on AI-related issues. In November last year, Trump even invited the Brockmans to a dinner with Saudi Crown Prince Mohammed bin Salman. The 38-year-old Greg Brockman plans to increase his support for Leading the Future this year, stating that the shift in public opinion to support candidates aligned with AI development is a crucial step for the future of humanity.
Richard Uihlein
Total Donation Amount: $45.3 million
Main Donation Recipients: Donated $39.6 million to the Restoration of America PAC; Donated $4 million to Fair Courts America; Donated $1 million to Northwoods Future PAC, which is supporting Michael Alfonso, son-in-law of Transportation Secretary Sean Duffy, in his run for a Wisconsin House seat.
Influence Analysis: 80-year-old Richard Uihlein is an inheritance of the Schlitz beer family fortune, a staunch conservative, and the co-founder of the office supply company Uline. He is a major funder of the Restoration of America PAC, which focuses on election integrity, strengthening national defense, anti-abortion policies, and promoting conservative political candidates. He also advocates for loosening regulations on the long-haul trucking industry, believing that the current rules overly burden the freight sector.
Marc Andreessen
Total Donation Amount: $44.7 million
Main Donation Recipients: Donated $25 million to Leading the Future; Donated $11.9 million to Fairshake; Donated $6 million to MAGA Inc.
Influence Analysis: At 54, Marc Andreessen, who used to be a bipartisan donor, supported Barack Obama in 2008. In July 2024, due to disagreements with Joe Biden on cryptocurrency and artificial intelligence regulation issues, he publicly declared his support for Trump.
This Silicon Valley venture capitalist often has phone calls with Trump and is involved in shaping federal-level tech policies. Apart from his personal donation to Trump's campaign in 2024, his organization also funded two major Super PACs: Fairshake, focusing on cryptocurrency, and Leading the Future in the AI field.
Ben Horowitz
Total Donation Amount: $44.4 million
Main Donation Destinations: Donated $25 million to Leading the Future; Donated $11.9 million to Fairshake; Donated $6 million to MAGA Inc.
Influence Analysis: During the 2024 presidential election, Ben Horowitz, along with partner Marc Andreessen, endorsed Trump on tech policy stances and adopted a dual-faceted donation strategy. He has always leaned towards the Democratic camp and has also supported Kamala Harris's candidacy based on personal friendship.
Since then, 59-year-old Ben Horowitz's donations have focused more on specific issues. Most of the funds in this election cycle have flowed to political action committees related to artificial intelligence and cryptocurrency. He has also provided millions of dollars in donations to MAGA Inc. and made a six-figure donation to the Senate Leadership Fund PAC.
Miriam Adelson
Donation Total: $42.6 million
Major Donations: Donated $30 million to the Senate Leadership Fund; Donated $10 million to the Congressional Leadership Fund; Donated $1 million to the Security is Strength PAC supporting South Carolina Senator Lindsey Graham.
Influence Analysis: 80-year-old Israeli-American physician Miriam Adelson, along with her late husband, casino magnate Sheldon Adelson, has been a staunch supporter of Trump. In 2024, Miriam Adelson personally donated $95 million. The couple has also had a profound impact on the Trump administration's policies towards Israel, such as advocating for the relocation of the U.S. Embassy to Jerusalem.
Paul Singer
Donation Total: $33.92 million
Major Donations: Donated $14.5 million to the Senate Leadership Fund; Donated $8 million to the Congressional Leadership Fund; Donated $2.5 million to the United Democracy Project associated with AIPAC, a pro-Israel lobbying group.
Influence Analysis: This activist hedge fund manager was initially skeptical of Trump and supported Nikki Haley during the 2024 Republican primaries. He later aligned with Trump's re-election campaign, particularly endorsing the government's support for Israel, its tough stance on Iran, and its efforts to combat anti-Semitism on college campuses.
81-year-old Paul Singer also funded political action committees in several key House districts, including supporting two major organizations in an attempt to recall Kentucky Republican Congressman Thomas Massie. Massie faced Trump's disapproval for his actions such as advocating for the release of Jeffrey Epstein-related documents and voting against aid to Israel in 2023.
Diane Hendricks
Total Donation Amount: $25.79 million
Main Donation Recipients: Donated $25 million to MAGA Inc.; Donated $413,000 to the Republican National Committee; Donated $182,000 to Defend Our Majority, supporting Republican House candidates.
Influence Analysis: 79-year-old Diane Hendricks, the richest person in Wisconsin and co-founder of the building materials distribution company ABC Supply, is a longtime conservative donor to Republican candidates. In 2016, she supported then-Wisconsin Governor Scott Walker's presidential bid and later switched her allegiance to Trump. During Trump's first term, he appointed her to the National Economic Policy Committee. This year, she also attended the Winter Olympics closing ceremony as part of the presidential delegation.
Research Methodology
· Bloomberg News compiled Federal Election Commission records, analyzing donations of $10,000 or more made by individuals and entities to political parties and political action committees from January 1, 2025, to March 31, 2026.
· Donor names were standardized, including individuals, corporations, anonymous funding groups, industry associations, unions, state political committees, and Native American tribal entities. If joint fundraising committees split contributions among individual members, they were counted according to official reporting.
· Institutional large donations were cross-referenced to trace the actual backgrounds of individual contributors. To avoid duplicate counting, transfers of funds within joint fundraising committees to beneficiary organizations were excluded.
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