Scoop: Trump to keep fundraising, hoping to retain political muscle
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President Trump has told advisers that he plans to keep raising money for his political operation — a move aimed at salvaging his clout after the GOP's midterm debacle.
Why it matters: Maintaining a political organization — either his existing MAGA Inc. super PAC or one to be created — would give Trump a vehicle to try to influence elections in 2028 and beyond, including the next presidential contest.
- It also would give Trump a way to pressure GOP lawmakers who consider breaking with him as the unpopular president enters his lame-duck era and Democrats prepare congressional investigations into his administration.
- Trump's MAGA Inc. enforced party discipline during the 2026 primary campaigns when it helped defeat Kentucky Rep. Thomas Massie (R), an outspoken Trump critic.
Zoom in: MAGA Inc. has been the centerpiece of Trump's political operation during his second term, raising nearly $450 million since the beginning of 2025.
- The group received massive checks from cryptocurrency and AI industry donors, along with Republican megadonors such as Elon Musk and Miriam Adelson.
- Trump has hosted high-dollar fundraising dinners at Mar-a-Lago and his golf club in Sterling, Va., drawing business leaders eager to curry favor with the president.
- Some donors subsequently benefited from administration decisions. The New York Times reported that a medical products company whose executives and affiliates gave $5 million to MAGA Inc. benefited from an administration decision to delay Medicare reimbursement restrictions, for example.
By the numbers: MAGA Inc. spent more than $400 million on the midterms, making it one of the election's biggest spending forces, according to a source familiar with the totals.
- The massive investment failed to prevent Republicans from losing control of Congress amid voter anger over Trump's war on Iran, high prices and corruption concerns.
- As of Oct. 14, MAGA Inc. had more than $164 million in the bank, though it spent tens of millions more on TV and digital advertising in the campaign's final weeks so it's unclear how much remains.
- The group invested aggressively in traditionally safe GOP seats that had become competitive, helping some Republicans survive, according to party operatives.
Yes, but: Raising money could become much harder with Democrats controlling Congress and major donors beginning to look turning their attention toward 2028.
- Republicans say Trump's diminished political clout will make it harder to attract the enormous checks that have flowed into MAGA Inc.
- The prospect of congressional investigations into alleged pay-for-play arrangements involving donors to Trump's political operation could further discourage contributions.
- Technology executives who contributed heavily to the group may increasingly turn to Democrats, while major Republican donors shift their attention to prospective 2028 presidential candidates.
What they're saying: A MAGA Inc. spokesperson declined to comment. White House spokespeople didn't respond to a request for comment.
