# MAGA Inc [[Donald Trump]]'s primary super PAC and the largest outside-spending vehicle in the 2024 presidential election. Registered with the FEC on September 23, 2022 (FEC ID: C00892471), MAGA Inc raised roughly $410M and spent $377M in the 2024 cycle — the overwhelming majority on television advertising in battleground states. It closed **August 2026 holding $415,776,043.10**, making it by a wide margin the most heavily capitalized political committee in the country. (Earlier vault text gave a $294–350M range; that has been superseded by the filed figure below.) ## Structure and Leadership MAGA Inc is an independent expenditure-only committee (super PAC) — legally prohibited from coordinating directly with Trump's campaign but in practice the dominant air-war vehicle for Trump's political operation. It was co-founded by [[Taylor Budowich]], a former Trump aide who served as executive director through the 2024 cycle before becoming White House Deputy Chief of Staff under [[Susie Wiles]]. Other key operatives include pollster Tony Fabrizio, strategist [[Chris LaCivita]], and adviser [[Sergio Gor]]. MAGA Inc is legally distinct from [[Save America PAC]], Trump's leadership PAC founded on November 9, 2020. Save America transferred approximately $60M to MAGA Inc in 2022 to capitalize the super PAC; MAGA Inc later returned $12M+ to Save America in 2023 after Save America requested a refund. The leadership PAC is subject to stricter contribution limits and is controlled directly by Trump; the super PAC can raise unlimited funds. ## The Dark Money Arm Securing American Greatness, a 501(c)(4) nonprofit co-founded by [[Taylor Budowich]] in 2024, functions as MAGA Inc's dark money conduit. It does not disclose its donors. In 2024, it raised $275M from fewer than 100 donors (individual gifts ranging $2,500–$35M) and transferred $52M+ to MAGA Inc before the election. In 2025, it transferred another $21.3M. This structure routes anonymous money into the super PAC while maintaining donor secrecy. ## Major Donors **[[Tim Mellon]]** is the single largest individual donor, giving approximately $151.5M to MAGA Inc in the 2024 cycle alone — $5M in January 2024, $50M on May 31, 2024, and additional tranches through October. He continued with $2M more in early 2025. **[[Elon Musk]]** operated primarily through [[America PAC]], which he founded and funded with $249.75M in 2024 (FEC; ~$52M of it in-kind). Musk did not appear as a significant MAGA Inc donor during the 2024 cycle. He gave **$5M on June 27, 2025**, three weeks after his public break with Trump, alongside $5M each to [[Congressional Leadership Fund]] and [[Senate Leadership Fund]] the same day (FEC Schedule A). See [[Elon Musk Political Donations]]. **[[Jeff Yass]]** gave $16M to MAGA Inc in the first half of 2025. **[[Miriam Adelson]]** was among the top mega-donors to Trump-aligned vehicles. **[[Greg Brockman]]** (OpenAI president/co-founder) donated $25M in September 2025 — a notable Silicon Valley crossover. **[[Diane Hendricks]]** gave **$25M on March 16, 2026** — filed through Hendricks Holding Co. and disclosed publicly in July. At the time it was the largest single contribution the super PAC had ever received; [[Miriam Adelson]] tied it with $25M in **May 2026**. MAGA Inc entered April 2026 with roughly **$348M** on hand. See [[Hendricks 25M to MAGA Inc]]. ⚠️ The May 2026 Adelson $25M does not yet appear in the vault's Deals ledger. **[[Cameron Winklevoss]]** and **[[Tyler Winklevoss]]** contributed **188 bitcoin worth $10,018,464.91 on June 19, 2026** — twenty-three days after the [[CFTC]] moved in favour of their exchange [[Gemini]]. See [[Winklevoss 10M Bitcoin to MAGA Inc]]. **[[Jared Isaacman]]** gave **$2,000,000 on August 19, 2026** while serving as the Senate-confirmed Administrator of [[NASA]] — the committee's own filing lists his employer as NASA and his occupation as Administrator. See [[Isaacman 2M to MAGA Inc August 2026]]. **Phillip Sarofim** (founder and CEO of Trousdale Ventures, son of the Houston asset manager Fayez Sarofim) gave **$1,000,000 on August 21, 2026** — his first to the committee this cycle. ⚠️ No vault page yet. **Foris DAX, Inc.** — the U.S. operating entity of **[[Crypto.com]]** — is the committee's **largest corporate donor**, at **$35,000,000** across four receipts: $10M on 2025-02-14 (file 1909741), $10M on 2025-09-12 and $10M on 2025-10-22 (both file 1930534), and $5M on 2026-01-23 (file 1949722). All four are reported on **Line 17 — Other Federal Receipts**, not Line 11. The same entity also put **$2,026,000** into Keep America Great PAC Inc. (C00896365) on Line 11AI. Larger than any individual donor here except [[Tim Mellon]], and structurally the same argument as the [[GEO Group]] money below: a company with live federal regulatory exposure funding the president's super PAC. See [[Foris DAX 35M to MAGA Inc]]. ## August 2026 — $415.8M on hand, and a report that names no August donor MAGA Inc's **September Monthly Report** (Form 3X, **file 2014511**, received **2026-09-20 19:51:50 ET**, covering 2026-08-01 to 2026-08-31, treasurer Charles Gantt of Bulldog Compliance) is the committee's most recent complete disclosure. | Line | Amount | |---|---| | Cash on hand, opening 2026-08-01 | $403,450,026.85 | | Total receipts | $23,705,330.75 | | Subtotal | $427,155,357.60 | | Total disbursements | $11,379,314.50 | | **Cash on hand, close 2026-08-31** | **$415,776,043.10** | The closing figure is confirmed independently by *CNBC*, 2026-09-21, which reported $415.8 million from the same filing. Note the direction: the committee **gained** $12.3 million in a month in which it was already under public pressure to spend, taking in more than twice what it disbursed six weeks before a federal election. ### The report itemises eighteen rows, and none of them is a contribution Every itemised Schedule A row in the August report sits on **Line 17, Other Federal Receipts**, carrying the purpose string "NON-CONTRIBUTION". **There is not one itemised Line 11 contribution in the filing.** The eighteen rows are: | Row type | Detail | |---|---| | Asset liquidation | 130.292 bitcoin sold through [[Gemini]] Trust Company for **$10,008,990.33**, with memo rows attributing the proceeds to [[Cameron Winklevoss]] and [[Tyler Winklevoss]] | | Interest | **$610,349.09** from JP Morgan Chase Bank, N.A. | | Named individuals | [[Jared Isaacman]] **$2,000,000** (2026-08-19); Phillip Sarofim **$1,000,000** (2026-08-21); Steven Haddad $50,000; Mark Faraj $25,000 | | Other | Mason Distribution Co Inc $2,000 | So the largest political committee in the country took in **$23.7 million** in August and filed a report from which **no August donor can be named as a donor**. The money is unitemised, or characterised as something other than a contribution, and both are permitted. The effect is that the legally mandated monthly disclosure of who funds the President's political operation contains, for August 2026, no funders. > [!warning] The Winklevoss rows are not August money > Roughly $10.01M of Winklevoss money appears in this report dated 2026-08-20 and 2026-08-21, and the same > dollars appear up to three times each across primary and memo rows — which is why the eighteen rows sum to > $33.7M against $23.7M of real receipts. The **contribution** was 188 bitcoin on **2026-06-19**; August is > the liquidation. See [[Winklevoss 10M Bitcoin to MAGA Inc]]. The donors behind the $23.7 million resolve at the **October Monthly, due 2026-10-20**, or earlier in a 48-hour notice. ## 2024 Spending MAGA Inc spent $376.9M in outside spending, with roughly $349.9M going to media buys. Pennsylvania received approximately 80% of early ad spending, with additional spending in Arizona, Georgia, Wisconsin, Nevada, and Michigan — a map that tracked the presidential battleground states. ## Legal Controversies In February 2026, the Campaign Legal Center filed an FEC complaint alleging that Venezuelan billionaire Julio Herrera Velutini used his daughter Isabela Herrera as an illegal straw donor to funnel $3.5M to MAGA Inc ($2.5M in December 2024, $1M in July 2025). Herrera Velutini, a foreign national legally prohibited from making such donations, had been indicted for federal bribery in 2022 and pleaded guilty to a single misdemeanor in July 2025. [[Donald Trump]] pardoned him in January 2026. The CLC alleges the donations were made in exchange for the pardon. Isabela Herrera's only prior political donation was $20 to Pete Buttigieg's 2020 campaign. ## Federal contractors as donors In August 2026 the *New York Times* documented the most legible contractor-to-super-PAC sequence in the committee's records: **GEO Reentry Services LLC**, a subsidiary of the private-prison company [[GEO Group]], gave MAGA Inc **$1 million on July 16, 2026** — three days after GEO announced a five-year ICE contract worth $85 million a year — and a further **$413,000 on July 31**, two days after announcing a second contract worth $80 million a year. GEO entities have routed more than **$4.4 million** to MAGA Inc since the start of 2025. Unlike the [[Tim Mellon]] money, this is not an ideological donor buying influence over policy in general; it is a company whose entire revenue depends on discretionary awards from the administration whose super PAC it funds. The White House denies any connection. See [[GEO Group]] for the sequence in full. ## September 2026 — the war chest starts moving, and where it goes is the story In mid-September 2026, MAGA Inc began deploying **roughly $100 million** into the midterms, routing it through two smaller committees — **No Going Back PAC** and **Safety and Affordability PAC**. Per AdImpact data reported by the *[[New York Times]]*, No Going Back has reserved about **$95 million** in advertising and Safety and Affordability a further **$27 million**. The placement is what analysts seized on. Greg Sargent of *The New Republic* reported on **September 17–18, 2026** that the money is going into **at least 17 districts [[Donald Trump]] carried in 2024 by more than five points — including six he carried by ten points or more.** These are not the districts a party defends when it expects a normal midterm; they are seats that should not need defending at all. > [!quote] Larry Sabato, to The New Republic, September 2026 > "If those are in danger, then a lot of other seats that are considered similarly safe for Republicans must be on the chopping block." Sargent's reading, which he stated explicitly, is that Republicans may be **writing off** the Trump +3 to +5 districts entirely and redeploying to hold the +8 to +12 range — a triage pattern, not a defense. > [!warning] District list not yet itemized > This page records the aggregate (17 districts, six at +10 or better) because that is what the reporting gives. The specific districts have not been enumerated in a verifiable source. See [[Sabato's Crystal Ball]] and [[2026 House Races Hub]]. ## October 2026 — taking over the taxpayer-funded ads On October 5, 2026, after criticism of TV ads featuring Trump that DHS had paid for, Trump said he would pay for "the Patriotic Ads, among others," himself "and with money I raised for MAGA, Inc." The White House said MAGA Inc. would cover future ads but that the post "was not referring to reimbursement" of the public money already spent. See [[Patriotic Ads]]. ## October 13, 2026 — $5,000,000.00 against James Talarico on one line MAGA Inc filed a **48-hour independent-expenditure notice** (`F24N`, file **2020771**, received **2026-10-13T16:05:25**) disclosing **$5,000,000.00** on a **single Schedule E line**, expenditure date **2026-10-11**, election code `G2026`: **oppose [[James Talarico]]**, [[TX-Sen-2026]]. | Item | Detail | |---|---| | Amount | **$5,000,000.00**, one line, no memo-coded rows | | Payee | **[[Del Ray Media LLC]]** — 100% of the buy | | Expenditure date | 2026-10-11 | | Treasurer signing | **Charles Gantt**, c/o Bulldog Compliance, 100 Cummings Center Ste 306-P, Beverly MA | | Aggregate on the line | $30,000,000.00 — filer-dependent, **not** a publishable total (Rule 4c) | It is **below the Deals §7.4a $10M single-buy floor**, so it is logged on the race file rather than built as a standalone Deal, but it is the **largest single-line expenditure in the [[TX-Sen-2026]] log** and it moves two things the vault has been tracking: 🔴 **[[Del Ray Media LLC]] is no longer a House vendor.** Its share of [[Congressional Leadership Fund]]'s notices has climbed from 33% to 53.3% across the autumn; this is the first time it places an entire Senate buy, and it does so for the President's own super PAC. 🔴 **Charles Gantt signs a second committee in this vault.** He is treasurer of record here and of Main Street Fund, which appears in the [[KS-Sen-2026]] log at $350,000.00 on receipt date 2026-10-10. ⚠️ **PARTIAL-DAY FIRST READ** — from the 2026-10-13 tranche, swept at 21:00 ET with the receipt date still open (FEC Back-Sweep Standard Rule 6). ## 2026 Outlook MAGA Inc spent only $8.46M in 2025, preserving its war chest for the midterms. It raised $102M in the second half of 2025, including 25 donations of at least $1M. The strategy: reward Republicans who support Trump, punish those who don't, and defend GOP congressional majorities. [[Taylor Budowich]], after leaving the White House, launched [[Innovation Council Action]] — a separate vehicle backed by AI industry figures including [[David Sacks]], aiming to spend $100M+ in the 2026 midterms to advance Trump's AI agenda. ## See Also - [[Save America PAC]] — Trump's leadership PAC, original source of MAGA Inc capital - [[America PAC]] — Musk's parallel super PAC for voter turnout - [[Tim Mellon]] — Largest individual donor ($151.5M in 2024) - [[Taylor Budowich]] — Co-founder, now running Innovation Council Action - [[Jeff Yass]] — Major 2025-cycle donor - [[Donald Trump]] — Principal beneficiary - [[Dick Uihlein]] — Major GOP mega-donor (funds [[Restoration PAC]], not MAGA Inc directly) - [[GEO Group]] — federal detention contractor; $1.4M in donations within days of two ICE contract announcements - [[Sabato's Crystal Ball]] — the ratings operation reading the September 2026 deployment - [[Winklevoss 10M Bitcoin to MAGA Inc]] — $10.02M in bitcoin, June 2026 - [[Isaacman 2M to MAGA Inc August 2026]] — $2M from a sitting NASA Administrator - [[2026 Midterms Hub]] — where the war chest is going