MAGA Inc. raised $25 million, mainly from gambling billionaires, executives and financiers
A network of super PACs affiliated with President Trump spent more than $237 million between September and mid-October, according to federal election filings released Tuesday night. The money went to competitive races, including Senate contests in Texas and Michigan, as part of the president’s midterm push to hold Congress and with two weeks remaining before the election.
MAGA Inc. raised about $25 million during the six weeks from Sept. 1 through Oct. 14. The money came mainly from gambling billionaires, chief executives and financiers, according to filings with the Federal Election Commission.
Two Trump-aligned super PACs, No Going Back PAC and Safety & Affordability PAC, emerged in recent months to support Republican candidates in competitive races. MAGA Inc. provided $225 million in funding to the two groups, according to the filings.
MAGA Inc. and the two other Trump-aligned super PACs were down to about $181 million in cash on hand as of mid-October. MAGA Inc. itself had reported nearly $416 million in cash at the end of August.
Steve Wynn, a casino mogul and former Trump business rival who became one of the president’s highest-profile supporters, donated $8 million to MAGA Inc. The donation appears to be Wynn’s largest this cycle and his largest single donation since 2022, when he gave $10 million to a Trump-aligned super PAC.
Wynn previously served as finance chair of the Republican National Committee until 2018. The Wall Street Journal reported that year that interviews with dozens of Wynn’s casino employees described a pattern of sexual misconduct. Wynn denied the accusations at the time.
The Journal also highlighted Schwarzman, chief executive of asset manager Blackstone, as one of the wealthy donors in the push. Last year, Schwarzman made more than $1.2 billion in dividends and compensation, according to previous Journal reporting.
Schwarzman had been critical of Trump ahead of the 2024 election. In 2022, he said it was time “for the Republican Party to turn to a new generation of leaders,” and he told the Journal that he did not want Trump to run in 2024. Their relationship has since warmed: Schwarzman was among three dozen guests at a White House dinner last year that raised money for Trump’s $250 million ballroom.
Tehrani, a co-founder of Stake, an online casino that operates using cryptocurrency, made a million-dollar donation in mid-September. He had already donated $2 million to MAGA Inc. since 2025. The Journal reported that Stake’s primary offshore operation is blocked in the United States and its American arm is banned in roughly half of U.S. states.
President Trump said on Tuesday afternoon on Truth Social that he plans to spend more than $400 million by Election Day.