Cruz, O’Rourke raised $115M

Democrat took in $80M to spend in costliest Senate race

U.S. Sen. Ted Cruz and Democrat Beto O’Rourke combined to raise nearly $115 million for their battle in 2018, obliterating previous campaign fundraising records.

O’Rourke took in the bulk of that money, raising just over $80 million by himself, according to new campaign finance reports made public by the Federal Election Commission on Friday. Cruz meanwhile ended up raising just over $34 million.

The combined $114.8 million is more than had ever been spent on a U.S. Senate race before this year. The previous record was $77 million spent in the Massachusetts U.S. Senate race in 2012.

O’Rourke raised the $80 million without the help of political action committees.

Cruz raised more than $1.6 million from political action committees.

New FEC reports show on the day before Election Day, Cruz received a $255,000 loan to help fund his campaign. The loan came from Goldman Sachs & Co., a firm where Heidi Cruz is an investment manager.

O’Rourke more than doubling Cruz’s fundraising wasn’t enough to bring him to victory. Cruz defeated O’Rourke by about 215,000 votes according to official election results certified this week. It was the closest U.S. Senate race in Texas since 1978.