Gov. Glenn Youngkin’s PAC raises over $4 million in 48 hours from billionaire donors

Virginia Gov. Glenn Youngkin raised $4 million in 48 hours, the final 48 hours before Virginia’s midterm election. Several billionaires have poured money in to the race for a Republican majority at the state Senate as well as to defend the GOP majority at the House of Delegates.

CBS News learned exclusively that Jeff Yass is the billionaire founder of Susquehanna Investment Group and managing partner of Youngkin’s PAC, Spirit of Virginia. He donated $2 million.

Yass is making his first donation.

Thomas Peterffy, a GOP superdonor, donated another $1 million to PAC. Peterffy’s total contribution to Youngkin PAC this cycle is now $3 million.

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Petterfy said that he would like Youngkin to join the GOP primaries as a late entry in the presidential race of 2024 and called him “an ideal candidate for the Republican Party.”

According to campaign finance records, Youngkin also donated $500,000 to the PAC before the midterm elections.

The PAC of his candidate says that it has now $7 million cash in hand, with less than a month to go until the midterms elections for the entire state. On Nov. 7, all 140 seats in the state Senate and House will be up for election.

According to the Virginia Public Access Project, between July 1 and August 31, Republicans raised more than $10.4 million, while Democrats collected about $15.8 millions.

This has been an exceptional fundraising year for both the first-term Republican governor and Republicans. Youngkin’s campaign claims that he raised $7.45m in the third quarter. This is five times what any previous Virginia Governor has raised. In 2015, former Governor Terry McAuliffe collected $1.6 million during the midterm election cycle.

“Gov. Dave Rexrode said that Youngkin has raised $15.5million since March 1, to support our candidates. “There are too many issues at stake, and we know that with five weeks left to go, the progressive liberals will continue to raise and spend more than us.” Gov. Youngkin wants to make Virginia the best state in which to live, work and raise a child.”