Trump Super PAC Raised More Than $100 Million in Recent Months

President Trump’s team raised more than $100 million for a super PAC in the second half of 2025, with much of the money coming from wealthy people and corporations with issues before the administration.

The haul by MAGA Inc., detailed in a campaign finance report filed on Thursday night, reveals how aggressive fund-raising has continued for a political operation that revolves around Mr. Trump, giving the organization over $300 million ahead of this year’s midterms, it said. The donor list highlights the eagerness of deep-pocketed interests to endear themselves to a lame-duck president who has demonstrated a keen interest in fund-raising and a willingness to use his office to reward financial supporters and punish critics.

The biggest donations were $12.5 million each from Greg Brockman, a co-founder of the artificial intelligence firm OpenAI, and his wife, Anna Brockman; and contributions totaling $20 million from the parent company of Crypto.com, a cryptocurrency trading platform that has lobbied the administration. Leaders of the fast-growing A.I. and crypto industries have courted Mr. Trump and gotten favorable treatment.

Other donors included a nursing home entrepreneur seeking an ambassadorship, a vape-maker, a pro-cannabis group and a woman whose father was seeking a deal from prosecutors to settle charges that in 2020 he bribed Puerto Rico’s governor at the time.

Second-term presidents, barred by the Constitution from running again, usually begin winding down their own fund-raising after their inaugurations, focusing instead on boosting their parties’ committees and candidates ahead of the midterms and other elections. While Mr. Trump has often mused about seeking a third term, he seemed to acknowledge this fall that he could not.

But emboldened by the record-breaking sum of nearly $240 million raised by his inaugural committee, he tasked his associates with raising money for other groups and causes dear to him. Those include not only MAGA Inc. and an affiliated political nonprofit group called Securing American Greatness, but also the construction of a new White House ballroom, nonprofits organizing festivities for the 250th anniversary of U.S. independence and a presidential library.

Some Republicans have expressed concern that Mr. Trump’s continued fund-raising will siphon money from party campaign spending vehicles and give his allies too much sway.

MAGA Inc. said in a statement that the group “will have the resources to help candidates who support President Trump’s America First agenda,” including on border security, crime reduction and trying to lower prices for consumers.

MAGA Inc. spent $1.7 million supporting Matt Van Epps, a Republican former state official and Army veteran, in his successful campaign for a U.S. House seat in Tennessee in a special election last month, according to Thursday’s filing.

MAGA Inc. said it finished the year with $304.3 million in the bank, meaning that the group raised about $10 million in the final week of last year, which was not covered by the filing.

Liz Huston, a White House spokeswoman, rejected any suggestion that Mr. Trump’s decisions in office were shaped by donations.

“President Trump is grateful for the support he receives, but unlike politicians of the past, he isn’t bought by anyone,” Ms. Huston said in a statement. “President Trump makes decisions based solely on what’s best for the country, which is why America is the hottest country in the world right now.”

Some of the donors whose contributions to MAGA Inc. were revealed in Thursday’s filing have benefited from actions of Mr. Trump or his administration or are in industries that have. Many have received invitations to exclusive events and meetings with Mr. Trump, including official White House functions. Several have also given to the inauguration or the ballroom.

Kris Marszalek, the chief executive of Crypto.com, was among the attendees at a black-tie dinner for Crown Prince Mohammed bin Salman of Saudi Arabia at the White House in November. The dinner came in the weeks after Crypto.com’s parent company made two separate $10 million donations to MAGA Inc., as its gifts to the organization totaled $30 million for the year. It also donated $1 million late last year to Mr. Trump’s inaugural committee.

A spokeswoman for Crypto.com did not respond to a request for comment about the donations.

The crypto industry has benefited from Mr. Trump’s cheerleading, as well as his championing and signing into law a bill creating the first federal rules for stablecoins, a popular form of digital currency.

The super PAC received $1.05 million from the American Rights and Reform PAC, a pro-cannabis political committee that previously donated $1 million to MAGA Inc., amid an intense influence campaign by the burgeoning industry.

Last month, Mr. Trump signed an executive order to downgrade cannabis from the most restrictive category of drugs, easing some limitations and allowing for more research, a major victory for the industry.

Mr. Trump has also drawn support from companies and executives involved in artificial intelligence for actions boosting the industry, including signing an executive order last month to neuter state laws limiting A.I.

The Brockmans were among those associated with the industry who attended events at the White House. They were at a gathering of A.I. executives presided over by Mr. Trump and Melania Trump, the first lady, in early September.

About a week later, Mr. Brockman and Ms. Brockman each donated $12.5 million — for a total of $25 million — to MAGA Inc.

In a social media post this week, Mr. Brockman wrote that he expressed support at the dinner for the Trump administration’s “willingness to engage directly with the AI community and approach emerging technology with a growth-focused mindset.” He indicated that the issue was personal for his wife, who has used A.I. to help deal with complex chronic conditions. The couple, he wrote, began making political donations last year to show “support for policies that advance American innovation.”

The e-cigarette company Juul donated $1 million to MAGA Inc. in early November, less than four months after the Food and Drug Administration authorized the company’s vapes for the U.S. market. The move ended a lengthy standoff with regulators and lawmakers who accused the company of spurring an epidemic of e-cigarette use among youths.

Isabela Herrera initially donated $2.5 million to MAGA Inc. in late 2024 as her father, Julio Herrera Velutini, a Venezuelan-Italian banker, was facing federal charges for trying to bribe the governor of Puerto Rico in 2020. In May, a top Trump appointee at the Justice Department authorized a misdemeanor plea deal to settle the case, overruling career prosecutors who had pushed for a harsher sentence. In July, Ms. Herrera donated another $1 million to MAGA Inc.

Lawyers for the Herreras did not respond to requests for comment. A Justice Department spokeswoman previously said that the decision to settle the case was unrelated to political giving.

Benjamin Landa, a prominent New York-based nursing home operator whose businesses have faced fines and other legal issues, donated $5 million in August. He was nominated in October to be the ambassador to Hungary, but has yet to be confirmed. He did not immediately respond to a request for comment.

Another person seeking an administration post who donated to MAGA Inc. was Jared Isaacman. He gave $1 million in September, after a previous $1 million in June. Mr. Trump tapped Mr. Isaacman in November to lead NASA, five months after abruptly yanking his nomination for the same post.

And last month, Elizabeth Brodie gave $1 million to MAGA Inc., bringing her total donations to the super PAC to $1.5 million since the president was elected for a second term. A company associated with her and her husband, Stefan Brodie, donated $1 million to the Trump inaugural, while Mr. Brodie donated an undisclosed amount to the ballroom project.

The Brodies were invited to the White House dinner in November honoring the Saudi crown prince, and Mr. Brodie attended a dinner the month before for major donors who gave at least $2.5 million for the ballroom.

Their son Howard Brodie is the U.S. ambassador to Finland, having been nominated by Mr. Trump in February. He did not immediately respond to a request for comment.

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