President Donald Trump, though constitutionally barred from seeking reelection, is commanding the political fundraising arena with a financial arsenal that could reshape the landscape of Republican politics for years to come.
According to Federal Election Commission filings released late Thursday, the Trump-aligned super PAC, MAGA Inc., pulled in an extraordinary $177 million in the first half of 2025. His leadership PAC, Never Surrender, also contributed significantly to this momentum by raising an additional $28 million. Together, these entities reported a combined $234 million in cash on hand as of the end of June. Additionally, a separate joint fundraising committee holds another $12 million, much of which is expected to flow into Trump's broader political operation.
This puts Trump in an unprecedented position: the most well-funded former president in American history, now operating as a political juggernaut with unmatched influence over the Republican Party. His ability to deploy vast sums of money across primaries and general election races means he can shape the future of the GOP from outside the Oval Office — perhaps more forcefully than from within.
Targeting 2026 With Strategic Precision
Trump has already set his sights on the 2026 midterm elections. The White House has been quietly working behind the scenes to influence GOP congressional races, encouraging incumbents to seek reelection, clearing primary fields of challengers, and even engaging in redistricting efforts in states like Texas. The goal: maximize Republican gains and build a more loyal and ideologically aligned Congress.
Trump's tactics reflect a new kind of post-presidential political activism, drawing comparisons not to past presidents but to powerful party bosses of earlier eras. His involvement in redistricting strategy, candidate recruitment, and primary interventions shows that Trump remains, by design, the Republican Party's kingmaker.
If Trump chooses to unleash even a portion of his current war chest in the next cycle, he could eclipse traditional GOP powerhouses like the Congressional Leadership Fund and Senate Leadership Fund. This would cement his control over candidate selection and campaign strategy across the party.
A Web of PACs, Old and New
The Trump political machine comprises a complex web of entities. The joint fundraising committee "Trump National Committee" spent $17 million on operations while channeling over $20 million each to the Republican National Committee and Never Surrender.
Never Surrender, which was converted from Trump's 2024 campaign committee, reported $38 million in cash as of June, having spent $16.8 million — most of which was attributed to campaign-related expenses from the prior election cycle.
MAGA Inc., the primary Trump super PAC, boasts an astonishing $196 million on hand, having spent only a fraction of its resources so far.
Such discipline in withholding funds suggests a calculated plan for deployment. Rather than reacting to news cycles, Trump and his allies appear to be planning for a full-spectrum offensive in 2026, one that could reshape both chambers of Congress and potentially state legislatures across the country.
Megadonors and Crypto Giants Fuel the Machine
The funding surge isn't accidental. Major Republican donors have rallied behind Trump's post-presidential operation, and even some unlikely figures have joined in:
- Jeff Yass, a prominent libertarian-leaning financier, contributed $16 million.
- Securing American Greatness, a pro-Trump dark money group, chipped in $13.75 million.
- Energy Transfer Partners, along with its CEO Kelcy Warren, gave a combined $25 million.
- Foris DAX Inc. and Blockchain.com, both connected to cryptocurrency interests, donated $10 million and $5 million, respectively.
- In a surprising twist, Elon Musk, who has publicly clashed with Trump, still contributed $5 million to the super PAC.
Trump's open embrace of cryptocurrency — recently signing a landmark bill favored by the industry — has opened new avenues of political financing. Donations in bitcoin and increased engagement with crypto-linked companies indicate a broader push to modernize Republican fundraising strategies.
This confluence of traditional GOP donors, energy magnates, and crypto entrepreneurs signals a new era of Republican coalition-building, centered around Trump's unapologetically America-first platform.
A Conservative Powerhouse Unlike Any Other
What makes this fundraising haul particularly significant is the degree of control Trump maintains over the Republican political apparatus. Unlike many past presidents who faded into party elder statesmanship, Trump has retained — and expanded — his grip on grassroots supporters and major donors alike.
His influence is no longer tethered to electoral ambition. Instead, Trump is leveraging his brand, his political instincts, and his financial might to dictate the direction of the conservative movement.
As the 2026 elections draw nearer, Trump's war chest gives him unmatched power to elevate candidates loyal to his vision of the GOP: tough on borders, hawkish on China, unapologetically pro-energy independence, and defiant toward the progressive cultural agenda.
And with every passing week, it becomes clearer: Donald J. Trump may no longer be on the ballot — but in today's Republican Party, he remains the most powerful figure in American politics.