KEY POINTS
  • Billionaire financiers such as Paul Singer, Dan Loeb and Larry Ellison have avoided donating directly to some or all of Donald Trump's staunchest allies running for Senate in the midterms.
  • One GOP fundraiser said, "They would be lighting their money on fire if they got totally swayed by these candidates."
  • Strategists are advising clients to, instead, give to the super PAC, Senate Leadership Fund, which is closely aligned with Senate Minority Leader Mitch McConnell, a Kentucky Republican.
President Donald Trump shakes hands with Senator Mitch McConnell (R-KY) at a Keep America Great Rally at the Rupp Arena in Lexington, Kentucky, November 4, 2019.

Republican megadonors want the GOP to take back the Senate, but they don't have confidence that some of former President Donald Trump's top picks can catapult their party to a victory in November.

Billionaire financiers Paul Singer, Dan Loeb and Larry Ellison have so far avoided donating directly to some or all of Trump's staunchest allies running for Senate in the midterms: J.D. Vance in Ohio, Blake Masters in Arizona, Herschel Walker in Georgia, Adam Laxalt in Nevada and Dr. Mehmet Oz in Pennsylvania, according to Federal Election Commission records and people familiar with the billionaires' donations.