Billionaire Backing Grows for Collins in Crucial Senate Race

WHO:

Alternet - Republican U.S. Senator Susan Collins announced her reelection campaign.

Alternet - Billionaire Jim Davis, owner and chairman of New Balance, donated $1 million to the super PAC supporting Collins.

Alternet - Democrat Graham Platner won his party’s primary election.

Alternet - Ken Griffin, founder and CEO of Citadel LLC, donated $2.5 million to the Pine Tree Results Super PAC.

Alternet - Stephen Schwarzman, founder and CEO of Blackstone, donated $2 million.

Alternet - Other notable billionaire donors include Alex Karp, Melinda French-Gates, Robert Kraft, and Elizabeth Uihlein.

Alternet - The Platner campaign received donations from billionaires including Jennifer Pritzker, Jon and Pat Stryker, Christy Walton, and George Soros.

WHAT:

Alternet - Nearly 100 billionaires and their spouses have donated to Collins' reelection campaign.

Alternet - The group of nearly 100 billionaires and spouses has donated $9.8 million to Collins' network since the start of 2025.

Alternet - Collins' network has raised about $30 million since the beginning of last year, with $12 million going to her campaign.

Alternet - The Platner campaign raised $16.3 million over the same period.

Alternet - The Pine Tree Results PAC has booked $24 million in ads leading up to the general election in November.

Truthout - The net worth of the billionaire donors supporting Collins is $888 billion.

WHERE:

Alternet - New Balance is based in Boston and has manufacturing facilities in Maine.

Alternet - The Collins campaign has received donations from outside Maine, with only about 3 percent of larger donations coming from Maine.

WHEN:

Alternet - Collins announced her reelection campaign in February.

Alternet - Donations to Collins' network were analyzed from January 2025 to May 20, 2026.

Alternet - The general election is scheduled for November.

WHY:

Alternet - The race is seen as crucial for deciding control of the U.S. Senate.

Alternet - The significant funding from billionaires reflects the growing share of election spending by wealthy individuals in recent years.

HOW:

Alternet - The Collins campaign is linked to the Pine Tree Results PAC through joint fundraising agreements, allowing them to raise money together.

Alternet - The Pine Tree Results PAC is not subject to contribution limits, unlike other committees.

(UPDATED June 13, 2026 13:23 UTC)

Republican Senator Susan Collins has officially launched her reelection campaign, with nearly 100 billionaires contributing a staggering $9.8 million to her network since the start of 2025. Among the notable donors are billionaire Jim Davis, who gave $1 million, and Ken Griffin, who contributed $2.5 million, while Collins' campaign has raised about $30 million overall, with $12 million earmarked for her candidacy. Meanwhile, Democrat Graham Platner has won his party's primary and his campaign has raised $16.3 million, as both candidates gear up for the general election scheduled for November.