WASHINGTON (AP) 鈥� President has bragged about building a political war chest exceeding $1.5 billion 鈥� a staggering sum that he can wield at his whim to shape and the 2028 race to succeed him.
Trump’s stockpile 鈥� which dwarfs any amounts raised by his predecessors in their second terms 鈥� is not easy to precisely calculate given that much of it is being collected by groups that aren鈥檛 required to file regular financial disclosures.
Current and former staffers, as well as others in Trump鈥檚 orbit, wouldn鈥檛 say exactly where his political bank account stands six months after the president announced on social media that he鈥檇 raised, just since Election Day 2024, 鈥渋n various forms and political entities, in excess of 1.5 Billion Dollars.鈥�
But what is not in question is that it represents a mountain of cash that could reshape Republican politics for years to come 鈥� if he chooses. He鈥檚 been reluctant to spend money on other people鈥檚 races in the past, and he鈥檚 even to his own businesses.
The $1.5 billion Trump claimed is roughly equal to what he and outside groups spent on his successful 2024 reelection bid, according to OpenSecrets, a nonpartisan group that tracks political spending.
By comparison, Democratic President Joe Biden鈥檚 various super PACs, political groups and nonprofits, as well as the Democratic National Committee, raised roughly $97 million during his first year in office, according to public disclosures. That’s only about 7% of Trump鈥檚 total, and Biden was gearing up for a reelection run Trump isn鈥檛 allowed to make.
鈥淚 think a lot of people are asking, 鈥榃hat is it all for?鈥欌�� said Saurav Ghosh, federal campaign finance reform director at the Washington nonprofit Campaign Legal Center.
It’s enough to shape the midterms and beyond
People close to Trump say the main benefit of all that cash is unmatched influence heading into November. They insist Trump is eager to help Republicans so his political agenda isn鈥檛 stymied, like when derailed his first-term agenda after 2018’s midterms. His stockpile has helped the GOP build a sizable cash advantage over Democrats ahead of November, at least so far.
鈥淥ne of the main reasons a lame-duck president might want to amass this much money is to maintain political relevance,鈥� said Daniel Weiner, a former Federal Election Commission attorney and current director of the Brennan Center鈥檚 Elections and Government Program. 鈥淐ertainly he鈥檚 been far more aggressive about this than any of his predecessors.鈥�
Trump on Wednesday for Republicans opposing his tariff policies, and could spend big to hurt them in GOP primaries. Chief among his targets is Kentucky Rep. , who opposed Trump鈥檚 and defied the White House in helping force the release of federal files on .
Trump has also endorsed a , R-La., after he voted to convict Trump during his 2021 impeachment trial over the mob attack on the U.S. Capitol. Still, the extent to which Trump will open his pocketbook in congressional races remains to be seen.
鈥淲hat I鈥檓 a little surprised about is that Trump has not leveraged 鈥� at least overtly 鈥� the money he controls going into that election on his congressional agenda,鈥� said Jason Roe, a Republican strategist in Michigan.
Indeed, Trump has a history of not spending big on races where he isn鈥檛 running. In 2018, Trump鈥檚 America First Action super PAC spent 鈥� a pittance given that super PACs spent about $820 million that cycle, according to OpenSecrets.
He doesn鈥檛 always follow through on his threats, either. Despite pledging to travel to Alaska to help defeat Republican Alaska Sen. Lisa Murkowski in 2022, a instead gave $1.5 million to a group opposing her. Murkowski anyway.
The president also has made no major moves so far to oppose state lawmakers in Indiana new congressional maps championed by the White House.
Trump鈥檚 campaign bank account also would let him play a decisive role in the next presidential race. Vice President and Secretary of State are the early favorites, with Trump suggesting pairing them on a GOP ticket he says would be formidable.
鈥楢 slush fund鈥�
Much of Trump’s political cash comes from the MAGA Inc. super PAC, which raised $100-plus million in the last six months of 2025 and entered this year with more than . The Republican National Committee last year.
There’s also a constellation of pro-Trump nonprofits, including Securing American Greatness, which are only required to release limited information about their finances. Donations to one Trump entity can be moved through the various nonprofits and super PACs, making it difficult to track what’s spent where.
鈥淏ecause there are virtually no restrictions on what super PAC money can be used for, it essentially can be operated as a slush fund at the disposal of whoever controls it,鈥� Weiner said.
There are many ways Trump has his businesses , including for the use of his own airplane. He could also stage political events at his properties in Florida or New Jersey, or his golf club outside Washington.
At least $26 million has been spent by conservative groups and Republican committees at Trump properties since 2015 鈥� and the actual figure is likely higher since some groups don’t have to offer detailed spending figures.
Though federal rules govern the ways political donations can be spent, they can also be skirted. In 2020, Trump’s campaign paid tens of millions of dollars to , a move that satisfied federal disclosure rules, but masked the ultimate recipient of the money. In 2024, his political operation clawed back millions of dollars in donations it made to a super PAC supporting Trump’s run and used the money to instead that after his indictments in four federal .
鈥淎s with so many things Donald Trump, he is sometimes pushing the envelope on what鈥檚 permitted, sometimes blowing right through what are pretty clear legal limits,鈥� said Ghosh, of the Campaign Legal Center.
Who鈥檚 helping Trump鈥檚 campaign bank account grow?
Trump鈥檚 fundraising efforts are tireless. The day after his 2024 election win, he ordered staff to , and he’s since attended frequent fundraisers. His allies send out emails seeking donations constantly, often multiple times daily.
鈥淚鈥檓 sitting here. Alone. In the war room. Fighting for you,鈥� Trump wrote in one such message last month. In another, a Trump-affiliated group tried to spur on donors to give by asking, 鈥淒oes ICE need to come and track you down?鈥�
During his first presidential run, Trump relied heavily on small donations. But much of his operation now relies on large checks from uber-wealthy donors and well-connected businesses.
Greg Brockman, co-founder of OpenAI, and his wife, Anna, donated $25 million to MAGA Inc. last year, as Trump talked constantly about helping ensure U.S. companies dominate the artificial intelligence field globally.
Other big donations came from and big hoping to ease regulations.
The parents of Howard Brodie, Trump鈥檚 ambassador to Finland, donated $500,000 to MAGA Inc., while Isabela Herrera gave $3.5 million before her father, Venezuelan banker Julio Herrera Velutini, was by Trump on bribery charges.
鈥淓ach of these wealthy individuals. corporations, they are ponying up for a purpose,鈥� Ghosh said. 鈥淲hat we鈥檙e seeing with Trump鈥檚 administration is just an unprecedented level of pay-to-play.鈥�
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