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Megadonors pour ‘obscene’ sums into Trump’s midterms race

The Australian Financial Review (AFR) •
November 03, 2026 • 01:21 AM
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Spending on this midterm elections is set to hit $15.7 billion, driven by technology titans, hedge fund investors and a few party stalwarts. It may not work.

Megadonors pour ‘obscene’ sums into Trump’s midterms race

Technology billionaires, Wall Street financiers and old-school conservative stalwarts have shovelled truckloads of cash to Republicans, giving the party a marked spending advantage in what is expected to be the most expensive midterm election race ever. But it’s unclear if the millions will be enough.

Corporate titans with deep pockets are seeking to counter Donald Trump’s disastrous approval ratings and defy polls and betting markets that predict a rebuke of his presidency. Voter anger over fuel prices, corruption and other issues mean a possible clean sweep of Congress by Democrats.

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