The super PAC associated with President Donald Trump amassed $177 million in the first six months of 2025, according to recent fundraising reports. This significant funding came from GOP megadonors, prominent Trump allies, including some government officials, large corporations, a group involving undisclosed donors, and the mother of a pardoned individual, bolstering the group’s resources before next year’s midterm elections.
Even amid the current landscape of substantial political contributions, this enormous amount stands out. It indicates that Trump’s political influence will remain substantial, despite his ineligibility to run for president again due to term limits.
The group only spent $4.6 million during this period, resulting in a reserve exceeding $196 million as Trump continues to assert his influence within the Republican Party, aiming to maintain GOP control in Congress during the 2026 midterms.
Trump also has yet more money nestled away in other committees he can use for various political causes.
Among the donors to MAGA Inc. was Elizabeth Fago from Florida, who contributed $1 million on April 3. Her son, Paul Walczak, a nursing home executive, received a pardon from Trump on April 23 after pleading guilty to tax-related offenses earlier. The New York Times reports that Walczak’s pardon request emphasized Fago’s political engagements, and she attended an expensive fundraiser for the Trump super PAC shortly before her son’s pardon was granted.
Fago’s $1 million donation surpasses all her previous personal contributions to GOP campaigns combined, as recorded by Federal Election Commission data.
The super PAC’s largest donor was GOP billionaire Jeff Yass, who contributed $16 million. Yass initially donated $1 million just days prior to Trump’s inauguration and followed with an additional $15 million in early March.
His trading firm holds a significant stake in the parent company of the Chinese social media giant TikTok, and Trump has repeatedly delayed implementing legislation banning the app in America until it could be sold to an American owner.
The second-largest donation in the new report, $13.75 million, came from a nonprofit group called Securing American Greatness Inc. The nonprofit group popped up in 2024 and ran ads on Trump’s behalf ahead of last year’s election, and it doesn’t have to publicly disclose its donors.
Kelcy Warren, the head of the energy company Energy Transfer LP, gave the Trump super PAC $12.5 million, while the cryptocurrency firms Foris DAX and Blockchain.com gave $10 million and $5 million, respectively.
Elon Musk also chipped in $5 million to MAGA Inc. on June 27, when he also gave the same amounts to the main Republican super PACs involved in House and Senate races.
Musk spent heavily to help Trump win last year and joined his White House. But just weeks before his donation to the pro-Trump group, he left the White House while criticizing Trump’s signature tax cuts and spending bill and attacking Trump for his ties to convicted sex offender Jeffrey Epstein.
Kelly Loeffler, who is now a member of Trump’s Cabinet as head of the Small Business ministration, gave $2.5 million to MAGA Inc. on June 25. Her husband, Intercontinental Exchange CEO Jeffrey Sprecher, gave another $2.5 million.
Jared Isaacman, the billionaire entrepreneur Trump tapped to lead NASA before he pulled his nomination in May, gave the group $1 million on the final day of June.
And Warren Stephens, the Arkansas-based businessman whom Trump nominated as his ambassador to the United Kingdom, gave $1 million.
Other prominent donors include:
- Venture capitalists Ben Horowitz and Marc Andreessen, who each gave $3 million.
- Ronald Lauder, an heir to the Estée Lauder cosmetics and a pro-Israel activist, who gave $5 million.
- Billionaire businessman Timothy Mellon, who gave almost $2 million.
- Lynsi Snyder-Ellingson, the president of In-N-Out Burger, who gave $2 million.
- William Ford, an investment CEO who is also on the board of TikTok parent company ByteDance, who gave $1.25 million.
- Antonio Gracias, a private equity CEO who served in a high-ranking, volunteer role with Trump’s “Department of Government Efficiency,” who gave $1 million.
- Dallas Cowboys owner Jerry Jones, who gave $1 million.
- Tyler and Cameron Winklevoss, the entrepreneurs and early Bitcoin investors, who each gave about $500,000.
Dylan Ebs and Scott Bland contributed.
