Trump plans to keep fundraising after midterm losses to hold on to his clout, Axios reports

President Donald Trump has told advisers he intends to keep raising money for his political operation despite Republicans' midterm defeat, either through his MAGA Inc. super PAC or a new group aimed at 2028 and beyond, Axios reported. MAGA Inc. has raised nearly $450 million since early 2025.

President Donald Trump has told advisers he plans to keep his political fundraising machine running after Republicans lost control of both chambers of Congress in Tuesday's midterm elections, Axios reported. The White House has not publicly announced any such plan.

According to the report, Trump is weighing whether to keep using his existing super PAC, MAGA Inc., or to set up a new political organization to back Republican candidates in 2028 and beyond, including the next presidential race. Such an operation could help him preserve his influence over the party during his final two years in office, as some GOP lawmakers consider whether to distance themselves from the term-limited president.

Nearly $450 million raised

MAGA Inc. has raised nearly $450 million since the beginning of 2025, Axios reported, with major contributions from cryptocurrency and artificial intelligence executives and prominent Republican donors including Elon Musk and Miriam Adelson. The group spent more than $400 million on the midterm elections, making it one of the biggest financial forces of the campaign, but the spending did not stop Democrats from winning the House and the Senate.

Party operatives told Axios the super PAC poured money into traditionally Republican districts that unexpectedly became competitive, helping some GOP candidates survive. As of Oct. 14, MAGA Inc. reported more than $164 million in available funds, though tens of millions more went to television and digital ads in the campaign's final weeks. The group also flexed its muscle in this year's Republican primaries, helping defeat Kentucky Rep. Thomas Massie, a frequent Trump critic.

"Money that I control"

Trump has long signaled that he wants to keep part of his war chest for future elections. In September, as Republicans pressed him to spend more ahead of November, he told reporters in the Oval Office: "This is money from MAGA Inc. This is money that I control," while adding that he expected some of the money to remain in the PAC's account for 2028, CNBC reported. Federal rules do not require a super PAC to spend down its funds.

Axios reported that raising money could become harder from here, as major Republican donors increasingly turn their attention to prospective 2028 presidential candidates and some technology executives who gave heavily to the group may look toward Democrats. Separately, The Wall Street Journal reported in July that Trump had raised more than $800 million since returning to the White House, including contributions for his presidential library and the White House ballroom project.

Photo: Wikimedia Commons (Gage Skidmore, CC BY-SA 4.0)

Trump plans to keep fundraising after midterm losses to hold on to his clout, Axios reports