Corporate money is flowing into U.S. political campaigns at a record pace, according to new data from consumer advocacy group Public Citizen. The group said companies donated $646 million to U.S. political campaigns during the 18 months through June, a total that stands 40% above corporate spending across the full 2024 presidential election cycle. With the Nov. 3 midterm election entering its final stretch, that figure could still move higher.
Public Citizen said the tally does not include contributions routed through so-called dark money groups, and it also excludes spending in state and local elections. That means the real level of political spending by corporations and wealthy donors could be significantly higher than what has been publicly reported.
AI has quickly emerged as a major source of campaign funding. Leading the Future, a super PAC tied to OpenAI, has disclosed $50 million in contributions, pushing total AI-sector campaign donations reported to the Federal Election Commission, or FEC, to $62 million. The PAC has so far raised $140 million in donations and pledges. Traditional industries are also writing large checks, including a $20 million June donation from Koch Inc. and a $5 million contribution tied to Reynolds American.
U.S. companies are pouring money into political campaigns at an unprecedented rate.
New figures from consumer advocacy group Public Citizen show that corporate donations to U.S. political campaigns reached a record $646 million during the 18 months through June. That total is 40% higher than corporate spending over the entire 2024 presidential election cycle. With the Nov. 3 midterm election in its final stage, the number could rise further.
Public data does not capture the full picture
The count does not include donations made through so-called dark money groups, and it also leaves out spending in state and local elections. As a result, the actual amount of political money deployed by corporations and billionaires could be well above the public total.
AI has become a major political donor class
The AI sector has also moved quickly into the donor ranks. Leading the Future, a super PAC linked to OpenAI, has disclosed $50 million in contributions. That has lifted AI-sector campaign donations reported to the Federal Election Commission, or FEC, to $62 million. The PAC has raised $140 million in donations and pledges so far.
Traditional industries are still writing large checks
Traditional sectors are also spending heavily. Koch Inc., controlled by major Republican donor Charles Koch, donated $20 million in June to the family-backed political action committee Americans for Prosperity Action. Reynolds American, the tobacco company, gave $5 million to Donald Trump’s super PAC MAGA Inc. through a subsidiary.
The report was cited by USNews.
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