Here's something you don't see every day: a super PAC raising over $304 million for a president who can't run again. MAGA Inc., the super Political Action Committee aligned with President Donald Trump, pulled in that eye-popping sum between July 1 and December 22, 2024. The money machine shows no signs of slowing down, even with Trump term-limited out of future presidential races.
Tech Money Meets Political Power
The star of this fundraising show is Greg Brockman, co-founder of OpenAI, who wrote a $25 million check to MAGA Inc. in September. That single donation represents nearly a quarter of the roughly $102 million the super PAC raised during the period. When an AI company co-founder becomes your biggest political donor, you're watching the tech industry make a statement about its preferred regulatory environment.
Brockman isn't alone in opening his wallet. Republican mega-donor Stephen Schwarzman, CEO of global investment firm Blackstone (BX), contributed $5 million to MAGA Inc. last month. Schwarzman has also backed Trump's White House ballroom project, cementing his position in the former president's orbit.
The donor list reads like a who's who of controversial industries and high-profile figures. E-cigarette maker Juul Labs kicked in $1 million, while Jared Isaacman, the recently appointed NASA Administrator, donated $1 million as well. Isaacman's total contributions to MAGA Inc. last year hit $2 million, suggesting his support runs deeper than a one-time gesture.
Why AI Billionaires Are Getting Political
Brockman recently explained his political involvement in a post on X, saying it reflects his support for policies that foster U.S. innovation and stronger collaboration between government and tech. He praised Trump's administration for engaging with the AI community and taking what he called a growth-oriented approach to emerging technologies.
The timing makes sense. In December, Trump signed an executive order creating a single national framework for artificial intelligence, effectively overriding state-level regulations that tech leaders viewed as obstacles to American AI dominance. The order aligns perfectly with what Silicon Valley has been asking for: less regulatory fragmentation, more room to innovate, and a federal government that sees AI as a competitive advantage rather than a risk to manage.
This political alignment between tech leaders and Trump's policy agenda is happening against a charged political backdrop. Elon Musk recently responded to reports about him potentially funding GOP midterm campaigns, warning that a Democratic victory could lead to what he described as an influx of illegal immigration and fraud that would fundamentally change the country.
The fundraising prowess of MAGA Inc. signals that Trump's influence over Republican politics remains strong, even without the possibility of another presidential run. When you can raise $304 million for midterm elections, you're not just a former president—you're still the kingmaker.