Billions did not bring victory. The biggest donors supported the Republicans

Elon Musk has emerged as the largest individual donor in the 2025 election cycle, contributing $446 million to Republican candidates. Following him are Richard and Elizabeth Uihlein with $150 million, and Jeff Yass with $110 million. In contrast, George Soros is the top Democratic donor with $102 million. Other notable contributors include Ben Horowitz, Mike Bloomberg, and Miriam Adelson, most of whom supported Republicans. Despite this financial backing, the Republican Party lost its majority in Congress and five gubernatorial positions to Democrats, with ongoing vote counting in some states.