Texas Attorney General Ken Paxton entered the May 26 runoff against incumbent Senator John Cornyn with a stark fundraising shortfall. While he once projected a need for $20 million, his campaign has amassed roughly $13.5 million across the Senate effort and supporting committee. Major backers—West Texas oilmen and longtime Republican donors—have largely sat out, leaving a stark contrast to Cornyn’s cash‑rich war chest.

Donors such as Amarillo businessman Alex Fairly, who gave $300,000 to Paxton’s state races, contributed only $7,000 to his Senate bid, saying the priority is beating Democrat James Talarico. Oil magnate Tim Dunn and the Wilks brothers, who together donated over $1 million to his attorney‑general campaigns, each sent under $10,000 to the federal effort. Their silence marks a split between business‑oriented conservatives and the hard‑right base.

Cornyn entered the primary with roughly three times the cash on hand, reinforcing the view that money still matters in Texas races. Yet Paxton’s ability to stay competitive, buoyed by small‑donor enthusiasm and media exposure, suggests campaign spending may have diminishing returns when candidates are household names. The runoff outcome will determine whether the GOP’s donor elite must pivot to a different nominee for November.