Trump’s Super Pac Spent Nearly A Quarter Billion Dollars To Help Republicans

President Donald Trump’s MAGA Inc. super PAC went from quiet to one of the cycle’s biggest spenders in September — and still has massive cash reserves, according to new data released late Tuesday.

The group and its two affiliates, Safety & Affordability PAC and No Going Back PAC, have laid out more than $244 million in independent expenditures boosting GOP candidates since early September.

MAGA Inc. started September with more than $415 million in cash on hand and raised about $25 million additional through mid-October, according to new campaign finance filings with the Federal Election Commission. It transferred $25 million to Safety & Affordability PAC and $200 million to No Going Back PAC, both of which ran ads in races across the country.

The spending represents major engagement in the midterm election, following Trump’s promise last month to pour “probably $400, $500 million” into the midterms from MAGA Inc. In a post Tuesday on Truth Social Trump again said “I have spent, or will be spending, over 400 Million Dollars by Election Day.”

Even after its existing massive spending, the network would still have close to $200 million in the bank based on its total fundraising, which has exceeded $470 million since its inception in late 2024.

A spokesperson for MAGA Inc. did not immediately respond to a request for comment.

A person familiar with the thinking of the president’s team, granted anonymity to discuss internal dynamics, said MAGA Inc. will “continue to put their foot on the gas” on spending before the midterms.

MAGA Inc. officials have for months promised that the cavalry would come even as donors and Republican operatives worried that Trump just wouldn’t open the PAC’s wallet, with some speculating that Trump was planning to keep most of it for a future race.

But Tuesday’s disclosures put that soundly to rest.

“Anybody who cast aspersions on whether or not they were going to spend the money at the beginning of this has been proven wrong,” the person said. “I think they have lived up to the promise of – they are going to go big, they are going to go everywhere, and they are going to spend the money.”

Still, some worry the money comes too late.

One MAGA Inc. donor, who requested anonymity to discuss political giving, said the group should have acted bigger and earlier – but that MAGA Inc. had still spent “aggressively” and that Trump is “going to continue all the way ‘til the night of the election.”

“They could have spent a little bit more money a little bit sooner, but they did come out in full force,” the person said, noting that whatever is left over will be used in 2028.

New donations to MAGA Inc. in September included $8 million from real estate developer Steven Wynn and $5 million each from Blackstone CEO Stephen Schwarzman and Wisconsin businesswoman Diane Hendricks. Hendricks gave $25 million to the group in March, putting her among the PAC’s largest donors alongside longtime conservative megadonor Miriam Adelson.

And there is a simple truth behind why some MAGA Inc. donors have been sanguine all along, said longtime GOP operative Ron Bonjean: to curry favor with Trump.

“MAGA guys want a Republican majority but most of them are doing it because Trump has such a political appeal, and they're trying to show their loyalty in a way that Trump appreciates and respects,” Bonjean said. “Trump is a vacuum cleaner with many of these MAGA donors in a way that no other president has been able to capture.”

MAGA Inc made its first general election spend in September,shelling out $10 million for Ken Paxton’s Senate campaign in Texas.

“The president's operation invested very significantly in the midterms. When it comes to protecting the Senate firewall, we have a red wall with a green inner wall, and I think that will probably be the difference in keeping the majority,” Jason Thielman, former executive director of the National Republican Senatorial Committee and partner at public and political affairs consulting firm S2R.

Mark Bednar, GOP strategist and former communications director to former Republican House Speaker Kevin McCarthy, suggested that Trump could also choose to inject cash into 2027 off-cycle elections, not to mention 2028 if he chooses to make an endorsement.

He argued that with Republicans’ upper hand overall on money this cycle, extra MAGA Inc. spending may not have made a difference anyway.

“For Republicans to make the argument now of – if we only had more money on top of what’s already being spent at this point, I don't think you can say that with a straight face,” Bednar said. “Does an extra million dollars in a Senate race that already has hundreds of millions of dollars flowing through it make a difference?”