10 Biggest Self-Funded Political Campaigns Ever
1. Michael Bloomberg - $1.07 billion (2020 Presidential)
Bloomberg averaged $10.3 million per day for 104 days.
He spent $506.7 million on advertising with one firm alone.
$63.6 million on Google ads.
$43.6 million on Facebook.
The result? Just 55 delegates before dropping out.
2. Rick Caruso - $104.8 million (2022 LA Mayor)
The billionaire mall developer outspent his opponent Karen Bass 11-to-1.
Promised to clean up crime and homelessness.
Flooded LA with ads promising change.
Still lost by 10 points.
3. Michael Bloomberg - $102 million (2009 NYC Mayor)
Yup. He's on the list twice.
As NYC Mayor, Bloomberg lobbied to change the term limits just so he could run a third time.
He spent an average of $174 per vote he received—just to get re-elected.
He won. But barely.
4. Steve Forbes - $76 million (2000 Presidential)
The publishing mogul made a big bet.
His signature plan? A 17% flat tax for everyone.
Ran aggressive ads attacking George W. Bush.
Dropped out after losing badly in Delaware.
5. Donald Trump - $66.1 million (2016 Presidential)
Unlike others, the Donald structured his personal spending mostly as loans to his campaign.
Mixed self-funding with traditional fundraising.
His perceived wealth mattered more than actual spending.
6. Ross Perot - $63.5 million (1992 Presidential)
The original billionaire candidate.
Used 30-minute infomercials to explain complex issues.
Got 19% of the popular vote as an independent.
Changed how third-party candidates campaign.
7. Rick Scott - $63.6 million (2018 Senate)
The former healthcare executive outspent incumbent Bill Nelson.
Focused on job creation and immigration.
Won by just 10,033 votes out of 8.19 million cast.
The narrowest Senate win in Florida history.
8. Jon Corzine - $60 million (2000 Senate)
Wall Street wealth meets politics.
Former Goldman Sachs CEO spent $62 per vote.
Outspent his opponent 10-to-1.
Set records for most expensive Senate race ever at the time.
9. David Trone - over $60 million (2024 Senate)
The Total Wine & More co-founder isn't new to self-funding:
Spent $12.5 million on his last House race.
95% of his campaign funds are self-funded.
10. Vivek Ramaswamy - $30.7 million (2024 Presidential)
The newcomer...
Biotech entrepreneur worth over $950 million.
Funding his campaign through stock sales.
Trying to prove wealth can buy recognition.
Here's what I've learned building companies:
Money can buy attention.
But it can't buy authenticity.
The biggest spenders usually lose. Here's why:
Voters can sense when someone's trying to buy power.
Just like customers can sense fake marketing.
True influence comes from genuine connection. Not your bank account.
Democracy might be expensive.
But most years it's usually not for sale.
A bit about me:
I built 2 multimillion-dollar businesses without investment, selling my first for $60M after starting it in high school.
Now, I'm building a multi-million dollar gaming startup—and writing on X about how to do more with less.
Thanks for reading! If you enjoyed this:
1. Follow me @nealtaparia to learn how to be a work-less, do-more entrepreneur
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Video credits:
• YT link https://youtu.be/R5-8uozsPRk?si=Ck6ni6A7KIilrRrX
• YT link https://youtu.be/r-F3ueoigfs?si=0jKw8yzRE-47Rsqg
• YT link https://youtu.be/f2gnNaFqrHI?si=zEP20NKTDHfsi-WY
• YT link https://youtu.be/k3R8yegfaa4?si=ukMnq7HHboRTm49g
