Real-Estate Donors Tilt Toward Ken Paxton Despite Talarico’s Big Overall War Chest

If Texas real-estate heavyweights could decide the next U.S. senator with their checkbooks, Attorney General Ken Paxton would have a clear edge: an analysis by The Real Deal shows real-estate-linked contributors gave roughly $1.4 million to Paxton after the Republican primary, compared with about $272,000 to Democratic nominee James Talarico.

Fundraising Snapshot

That concentrated support from the real-estate sector contrasts with the broader fundraising picture. As of the Federal Election Commission’s July 15 filing, Talarico’s campaign and joint fundraising committees reported raising $72.6 million with $23.3 million cash on hand; Paxton’s committees reported $14.3 million raised with $6.8 million cash on hand. Outside groups echoed that gap: the pro-Talarico Lone Star Rising PAC raised $12.7 million, while the pro-Paxton Lone Star Liberty raised about $2.1 million.

National Spending Changed The Dynamic

More recently, large national super PACs — including former President Donald Trump’s MAGA Inc. and the Republican Senate Leadership Fund — pledged substantial advertising spending. Those national commitments, totaling roughly $110 million, have narrowed the practical advantage Talarico had in total dollars by flooding the race with media buys ahead of Election Day.

How The Analysis Was Done

The Real Deal reviewed FEC data on individual donors and examined filings from eight PACs and super PACs where disclosure was available. The analysis filtered for real-estate-related terms and cross-referenced names against known Texas real-estate figures, focusing on contributions of $10,000 or more. Because campaign finance disclosures and outside spending can be opaque, this review is not exhaustive but provides a clear picture of post-primary flows.

Notable Paxton Backers

Paxton’s largest real-estate-related supporter after the primary was Douglas Scharbauer, who gave $527,800 across Team Paxton (a joint fundraising committee) and Lone Star Liberty (a super PAC). Other prominent Paxton donors identified in the post-primary period include:

• Jerry Jones (Dallas Cowboys owner): $250,000 to Paxton Victory on June 16
• Laurie Harrison (Rosewood Corporation): $100,000 to Paxton Victory on June 22
• Kenny Troutt (founder of Excel Communications): $100,000 to Paxton on June 30
• Mehrdad Moayedi (Centurion American): $25,000 to Team Paxton on June 23
• Kenneth Banks (ranch owner): $50,000 to Paxton Victory on June 23
• Russell and Glenda Gordy (BKR Real Estate Management): combined $100,000 on June 24
• Cynthia Wilson (Wil-Cor Inc.): $75,000 in mid-June

Real-Estate Support For Talarico

Talarico’s top identified real-estate-related contribution after the primary was $113,500 from David Gochman to Lone Star Rising PAC. Other contributors to Talarico-related committees included:

• Eric Swartz (Pilot Real Estate Group): $28,500 to Lone Star Rising
• Michael Sonnefeldt (MUUS and Company): $28,500 to Lone Star Rising
• David B. Deniger (Hyphen Solutions): $10,000 to Talarico’s campaign in June
• Morgan Cox (Marquis Group): $23,500 to Talarico Victory Fund
• Casey Hatcher (developer): $13,500 to Talarico Victory Fund
• Peter and Bailey McCarthy (Eden Asset Management): $23,500 to Talarico Victory Fund, with prior contributions to Lone Star Rising

What It Means

The Real Deal’s review highlights a concentrated bloc of large real-estate donations flowing to Paxton after the GOP primary, even as Talarico has dominated overall fundraising totals. The late infusion of national super PAC ad dollars further complicates the picture by changing how competitive each campaign can be on broadcast and digital channels.

Note: All figures cited are drawn from The Real Deal’s analysis of FEC filings and PAC disclosures; due to the complexity of campaign finance, this summary should not be considered comprehensive.