Topline
Billionaire and Democratic megadonor Reid Hoffman gave $10 million to support James Talarico’s Texas Senate bid against Republican Ken Paxton in a pivotal race for Democrats’ bid to take over the Senate.
Reid Hoffman, co-founder of LinkedIn, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 8, 2026 in Sun Valley, Idaho. (Photo by Kevin Dietsch/Getty Images)
Getty Images
Key Facts
The LinkedIn cofounder’s donation in support of the Texas state lawmaker was the largest gift to a super PAC in the second quarter of this year, Bloomberg reported, citing Federal Election Commission filings.
He previously donated $1.5 million to support Talarico, who is running in a close race with Paxton, who defeated incumbent Sen. John Cornyn, R-Texas, with the help of President Donald Trump’s endorsement in a primary runoff earlier this year.
Talarico’s campaign received $30 million in donations in the second quarter, more than triple the $9 million donated to Paxton’s campaign.
Hoffman is one of the Democratic Party’s largest donors—he has given about $77 million to Democratic groups and campaigns since 2016, according to The Texas Tribune.
Forbes Valuation
We estimate Hoffman is worth $2.7 billion.
Big Number
47%. That’s the share of support each candidate received in a June New York Times/Siena University poll, showing the race is neck-in-neck four months before the primary.
Key Background
Paxton defeated Cornyn in the May primary runoff by 28 points, angering some Republicans as Cornyn, a four-term incumbent, is widely respected in the Senate. Trump endorsed Paxton after the initial primary, but he was already polling ahead of Cornyn. Both Paxton and Cornyn have controversial records. Talarico has been widely criticized for describing himself in a resurfaced 2021 podcast as a “Christian who hates Christianity,” and saying there are six biological sexes in a 2021 state legislature debate.
further reading
The Billionaires Backing The Anti-Billionaire Democrat Running For U.S. Senate (Forbes)