'Trump Super PAC' secures 440 billion won in campaign funds ahead of midterms
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- MAGA, Trump's super PAC, said it has stockpiled more than $300 million (about 433.8 billion won) in campaign funds.
- Observers say the Republican Party has secured a position to exert significant influence in the midterms through large-scale campaign funding.
- MAGA reported receiving large donations from the AI and cryptocurrency industries.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Donald Trump's super PAC (Super PAC·a special political action committee) has reportedly stockpiled more than $300 million (about 433.8 billion won) in cash ahead of this November's midterm elections. In the United States, where there is a strong perception that raising large amounts of campaign funds is advantageous in elections, the Republican Party is seen as having secured a financial advantage.
On the 2nd (local time), U.S. political outlets Politico and Bloomberg reported that Trump's super PAC, MAGA, reported to the Federal Election Commission (FEC) that it held $294 million in cash as of December 22 last year.
A MAGA spokesperson said in a statement that "the super PAC raised $304 million (about 439.5 billion won) by year-end." Politico said the super PAC raised more than $102 million in the second half of last year to amass a war chest of several hundred million dollars for the midterms, assessing that Trump's camp has "secured a position to exert enormous influence in the midterm elections."
The super PAC also said, "Thanks to President Trump's leadership, MAGA has secured the resources to support candidates who back the president's America First agenda — border security, public safety, economic revival, and lowering costs for all Americans."
Politico predicted that the total campaign funds available to President Trump will continue to grow as other super PACs keep raising money.
Bloomberg reported, "Trump is carrying out unprecedented fundraising for a president who, by the Constitution, cannot run for a third term, while emphasizing continuing dominance over the Republican Party," adding, "since the 2024 presidential election his super PAC, three leadership PACs, and the Republican National Committee have raised more than $500 million in total."
MAGA raised $177 million from prominent businesspeople and investors in the first half of last year and received large donations in the second half from the AI and cryptocurrency industries.
Greg Brockman, president and co-founder of OpenAI, donated $25 million, nearly a quarter of the total second-half fundraising, while Foris Dax, operator of the cryptocurrency exchange Crypto.com, gave $10 million in the first half and an additional $20 million in the second half.
Private equity investor Konstantin Sokolov donated $11 million, and Blackstone CEO Stephen Schwarzman and venture capitalist Asha Jadeja each contributed $5 million.
Jared Isaacman, recently confirmed by the Senate as a NASA official, donated $1 million in each of the first and second halves, totaling $2 million.
Yonghyun Shin, Hankyung.com reporter yonghyun@hankyung.com
