Jeff Yass Becomes Third-Largest Individual Donor in 2026 U.S. Midterm Election Cycle

Billionaire Jeff Yass, founder of market-making firm Susquehanna International Group, has contributed more than $80 million to candidates and political causes in the 2026 U.S. midterm election cycle. The donations place him behind only George Soros and Elon Musk as the top three individual donors, according to Bloomberg-compiled data. Yass’s contributions span a range of recipients, including the pro-school-choice School Freedom Fund and a federal political action committee backing Ohio gubernatorial candidate Vivek Ramaswamy. The $80 million total includes $15 million to the School Freedom Fund, $20 million to the Ramaswamy-supporting PAC, and the balance directed to other recipients such as MAGA Inc.

Bloomberg

Bloomberg’s analysis identifies George Soros and Elon Musk as the two largest individual donors in the 2026 midterm cycle, each channeling funds primarily through their own super-political action committees. Jeff Yass’s approach differs in that he directs sizable sums to established partisan groups such as former President Donald Trump’s MAGA Inc., as well as to issue-focused organizations and individual campaigns.

Bloomberg

• Jeff Yass – Founder of Susquehanna International Group; third-largest individual donor this cycle.

Bloomberg

• MAGA Inc. – Organization associated with former President Donald Trump, receiving a portion of Yass’s contributions.

Bloomberg

• School Freedom Fund – Advocacy organization promoting school-choice policies; recipient of $15 million from Yass.

Bloomberg

• Vivek Ramaswamy – Ohio gubernatorial candidate supported by a federal PAC that received $20 million from Yass.

Bloomberg

• George Soros and Elon Musk – The two donors who have contributed more than Yass, each primarily supporting their own super-PACs.

Bloomberg

• Total contributions by Jeff Yass: > $80 million.

Bloomberg

• $15 million allocated to the School Freedom Fund.

Bloomberg

• $20 million allocated to a federal PAC supporting Vivek Ramaswamy.

Bloomberg

• Yass ranks third among individual donors, following Soros and Musk.

Bloomberg

Yass’s sizable allocations to a political organization, a school-choice advocacy group, and a gubernatorial campaign illustrate a multi-pronged approach to shaping electoral outcomes. By directing funds to both national-level entities (MAGA Inc.) and state-level contests (Ramaswamy’s campaign), the donations could affect candidate viability, issue visibility, and voter mobilization in the 2026 midterms.

Bloomberg

The source provides a comprehensive figure for Yass’s total donations but does not detail the full distribution across all recipients. It also lacks specific amounts contributed by Soros and Musk, preventing a direct quantitative comparison of total spending among the top three donors. Additional data on how Yass’s contributions are being spent by the recipient organizations is not included.

Bloomberg

As the 2026 midterm elections approach, monitoring of Yass’s ongoing financial activity will be essential to assess any further influence on campaign dynamics. Future disclosures from the Federal Election Commission and subsequent reporting may reveal additional contributions or shifts in donor strategy.

Bloomberg