Billionaire Richard Branson Feels ‘Embarrassed By the Billions That Tech Entrepreneurs and Hedge Fund Managers Have Spent’ on 2026 Midterms

The day after midterms, Richard Branson wrote on LinkedIn that he was embarrassed by what other wealthy donors had spent on the elections. "As a successful entrepreneur, I have felt embarrassed by the billions that tech entrepreneurs and hedge fund managers have spent on — mostly Republican — campaigns this election cycle," the Virgin Group founder posted on Nov. 4, 2026. He named no individual. The figures below are what the public record shows he was describing.

The largest number comes from the Federal Election Commission (FEC), which on Oct. 27 — a week before the vote — put the 50 biggest donors of the cycle at $2.77 billion in contributions. That was about $1.67 billion (or roughly 60%) attributed to Republican-aligned committees, about $832 million (or 30%) to Democrat-aligned ones, and about $264 million to bipartisan or single-issue groups such as crypto and sports-betting committees. Other trackers cut the data differently. The Brennan Center for Justice counted $2.4 billion from the 40 largest donors through mid-October, per Fast Company, while The New York Times reported that 20 individuals gave more than $2 billion to federal races. All three of these figures are pre-election counts, and the FEC's post-election filings will revise every one of them upward.

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Within that total, the lines are large enough to name. Elon Musk gave about $446 million by Al Jazeera's count and $445.5 million by OpenSecrets' count, the largest individual total of the cycle, including $216 million to America PAC; Barchart has reported on Musk's midterm giving separately. Richard and Elizabeth Uihlein gave about $150 million as a couple by Al Jazeera's count, with OpenSecrets attributing $142 million to Richard Uihlein alone. Jeff and Janine Yass gave about $110 million as a couple, or $109 million from Jeff Yass according to OpenSecrets. Miriam Adelson also gave $66.1 million per OpenSecrets. On the other side, George Soros gave $102 million by Al Jazeera's count, Michael Bloomberg gave $84 million, and Reid Hoffman and Michelle Yee contributed $41 million as a couple. Where the trackers disagree, the gap is mostly cut-off dates and whether a spouse's giving is counted together. Both figures are printed here for that reason.

What happened on Nov. 3 is a matter of record. Democrats won control of the House and the Senate, and a majority of governorships for the first time in 16 years. In Texas, where Musk directed the largest share of his money, Republican Ken Paxton lost the Senate race to Democrat James Talarico. In Ohio, Vivek Ramaswamy — whose campaign for governor Jeff and Janine Yass were top backers of — lost to Amy Acton by about 52% to 44%. Reuters counted three wins among the 43 House candidates Musk supported, per Fast Company. None of that establishes what the money did or did not do, and the figures above are reported without a verdict.

Branson's post went further than embarrassment. "I'm delighted that, finally, U.S. voters stood up to this flood of money," he wrote, going on to criticize the messaging he said it funded. He then asked for a legislative response: "I hope this will prompt the next Congress to start a fresh conversation about the toxic impact of money in politics and the need for meaningful campaign finance reform." The adjectives are his. Branson is a U.K. citizen, and U.S. law bars foreign nationals from contributing to federal campaigns, so he is describing a market he cannot legally enter.

Branson has also long been uncomfortable with the label he shares with the people he was describing. He has said for years that he dislikes being called a billionaire, and signed the Giving Pledge — the Buffett-and-Gates commitment to give away the majority of one's wealth — more than a decade ago. Super PAC contributions of this size are legal and disclosed, which is why the FEC can count them.

The number that will matter next is the one nobody has yet. The FEC's year-end and post-general reports will add the final weeks of giving to every total above, and the $2.77 billion for the top 50 is already described by Al Jazeera as the figure "so far." Branson's post asks Congress to change the rules that made it possible. The rules, as of this week, are unchanged, and the record it produced is the one he says embarrassed him.