President Donald Trump’s political machine has raised a massive amount of money in just the first six weeks of his second term. His network of super PACs has amassed nearly $200 million in available cash—an overwhelming advantage that reflects the enduring loyalty of the conservative base and the strategic groundwork laid since his return to office. Meanwhile, Democrats scramble to energize their fractured party.
As we head into the next midterm elections, President Trump's $200 million war chest is readily at hand to use, which is unprecedented for a president who cannot run again.
According to the Federal Election Commission, Trump’s leadership PAC, Never Surrender—originally his 2024 campaign committee—raised an impressive $28 million in 2025. Major contributions came from top Republican-aligned donors, including billionaire trader Jeffrey Yass ($16 million), cosmetics heir Ronald Lauder ($5 million), tech investor Marc Andreessen ($3 million), and Elon Musk ($5 million). Additional large donations included $12.5 million from both Kelcy Warren, CEO of Energy Transfer Partners, and the company itself; $13.75 million from Securing American Greatness, a pro-Trump dark money group; and $5 million from Blockchain.com. After spending $16.8 million—mostly on outstanding campaign expenses—Never Surrender reported $38 million in cash on hand.
Combined, the two PACS raised $234 million in cash by the end of June.
Meanwhile, Trump’s main super PAC, MAGA Inc., brought in $176.9 million during the first half of 2025 and closed out June with a staggering $196.1 million in cash on hand.
Insiders say the Trump team has held back on spending, instead strategically stockpiling funds for maximum impact in the 2026 midterm elections. With nearly a quarter-billion dollars at the ready, this unprecedented cash reserve gives Trump and his allies enormous leverage to influence GOP primaries, elevate favored candidates, and steer the party’s direction nationwide.