Billionaires are flooding the midterms with cash—and nearly 80 cents of every dollar backs Republicans. Most of the time, the bigger spender wins

(Credit: Getty Images—ALLISON ROBBERT/AFP)

American billionaires have already poured more than $433 million into the 2026 midterms, and nearly 80 cents of every dollar is backing Republicans.

That’s according to an analysis released by the Americans for Tax Fairness (ATF), a progressive advocacy group, which examined Federal Election Commission data through March 1. The group found the 50 biggest-spending billionaire families had funneled $344.3 million, or about 79%, to Republican candidates and conservative organizations.