MAGA Inc. Heads Into Midterms With Nearly $300M — Big Donations From AI and Crypto Leaders

President Donald Trump’s primary super PAC, MAGA Inc., reported raising more than $102 million in the second half of 2025 and enters the midterm season with roughly $300 million available to spend on campaigns and independent political activity.

An FEC filing covering activity through Dec. 22 lists MAGA Inc. with $294 million in cash on hand; the PAC issued a separate statement saying the year-end balance was $304 million. Either way, the group’s substantial reserve — built from heavy fundraising earlier in 2025 and relatively limited spending — positions it as a major force in the run-up to November’s midterms.

“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 amount reported by MAGA Inc. does not include funds raised by other affiliated committees and outside groups that also support Trump-aligned candidates. Those additional war chests expand the pool of resources that Republicans nationwide may draw on as they try to defend and expand congressional majorities.

MAGA Inc. recorded its first independent expenditures of the year during a December special election in Tennessee’s 7th District, spending about $1.6 million to support Rep. Matt Van Epps. Van Epps defeated Democrat Aftyn Behn in a closely watched contest in a district that Trump carried by a large margin in 2024.

Major Donors And Funding Sources

The super PAC — which is not subject to federal contribution limits — attracted large gifts from a mix of traditional Republican backers and executives in the technology and crypto sectors:

• Greg Brockman (OpenAI president): $25 million.
• Foris DAX Inc. (U.S. unit of the company behind Crypto.com): $20 million last year, plus an earlier $10 million contribution at the start of 2025.
• Konstantin Sokolov (private equity investor): $11 million.
• Jared Isaacman (confirmed as NASA administrator in December): $2 million during the year, including $1 million in H2 2025.

Those large, named contributions highlight the broad fundraising reach of the PAC and the high stakes of the coming midterm contests. With its sizeable balance and recent early expenditures, MAGA Inc. is likely to play a central role in shaping competitive House and Senate races this year.

Bottom line: Whether the filing figure ($294M) or the PAC’s stated year-end total ($304M) is used, MAGA Inc. begins the midterm cycle with an unusually large war chest that could significantly influence candidate spending and messaging ahead of November.