Trump’s super PAC reports nearly $200 million war chest

The main super PAC affiliated with President Trump reported nearly $200 million in the bank as it looks ahead to the 2026 midterms in which control of Congress will be up for grabs. 

MAGA Inc., which was key in promoting Trump’s 2024 presidential campaign, reported $196.1 million in cash on hand in a mid-year filing to the Federal Election Commission, having raised almost $177 million through the first half of 2025.

The large sums show the group’s preparations for future elections even as Trump himself won’t be on the ballot and can’t run in another presidential contest. 

The filing shows significant donations from top Republican donors like Jeff Yass, a GOP megadonor who also is a major investor in TikTok, and Elon Musk, who had been a close Trump ally before he and the president had a falling out and engaged in a war of words on various issues, including Trump’s “big beautiful bill” that he signed into law last month. 

Yass donated $16 million, while Musk gave $5 million to the super PAC, the filing shows. Various other donors with ties to big tech also gave significant amounts. 

Musk’s donation came on June 27, after tensions cooled between the two of them and Musk expressed regret for his criticism of Trump. But the feud picked up again within days over the big beautiful bill, with Musk saying he would back primary challengers to Republicans who supported the legislation. 

Musk also said he would support Rep. Thomas Massie (R-Ky.), who was one of the only Republicans who bucked his party to vote against the bill and has faced attacks from Trump. 

With so much money in reserve, the super PAC could play a critical role in both primaries like Massie’s, and the general election in which Republicans and Democrats will battle for congressional majorities.