Several wealthy candidates from both parties stood out in 2023, breaking patterns amongst parties and challengers.
Candidate David Trone answers a question during the Democratic 6th Congressional District Candidate Forum at Hood College on January 17, 2018, in Frederick, Maryland.analysis found. Thirty-six Republican candidates poured more than $53.5 million of their personal fortunes into their campaigns, while 14 Democrats self-funded over $39 million.
Challengers and candidates in open seats also spent more of their money on campaigns than incumbents — $83 million to $10.9 million during the 2024 election cycle. Non-incumbents have led the way in self-financing, as 47 reported contributing to their campaigns, compared to four incumbent candidates. Republican candidate Matt Dolan is the highest self-funded challenger as he runs for a seat in Ohio’s Senate race against incumbent Sen.. Although he is one of the highest self-funders, he is also one of the lowest spenders in terms of the rest of his campaign. Scott self-funded 42% of his campaign, contributing $7.8 million of the $18.
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