(The Center Square) – Virginia’s 2025 statewide races are already drawing millions, and early campaign finance reports offer a first look at the money shaping this year’s high-stakes elections for governor, lieutenant governor and attorney general.
Big-name donors, six-figure checks and early ad buys are already in the books, and the 2025 elections are shaping up to be some of the most expensive off-year contests in state history, according to campaign finance disclosures filed with the Virginia Department of Elections and compiled by the Virginia Public Access Project.
Democratic former congresswoman Abigail Spanberger entered the race with over $6.5 million already in the bank. She raised another $6.7 million by the March 31 filing deadline, including small-dollar and PAC contributions, according to VPAP.
Her campaign haul includes some of the biggest donations reported, with six-figure checks from VoteVets, a federal PAC and major labor unions like AFSCME.
Spanberger’s early war chest, now topping $11 million, has instantly placed her among the best-funded candidates in recent Virginia history.
Republican Lt. Gov. Winsome Earle-Sears reported raising just over $3.1 million during the same period, less than half of Spanberger’s total. Still, Sears ended March with more than $4 million in cash on hand, positioning her for a competitive run fueled by large individual donors and business-backed PACs like Dominion Energy.
The contrast in cash flow highlights two distinct strategies: Spanberger’s campaign has leaned heavily on small-dollar donations, while Sears has relied so far on fewer but larger contributions from conservative megadonors and political allies.
Attorney General Jason Miyares, the only Republican statewide officeholder seeking reelection, brought in more than $2.1 million in the first quarter, leading a five-person field in the attorney general’s race.
He ended March with over $2.1 million in cash on hand, far less than the gubernatorial frontrunners, but still a comfortable head start in a race that’s drawn fewer challengers so far.
Democratic challenger Jay Jones reported raising $931,242 and ended March with nearly $1.5 million in cash on hand, putting him just behind Miyares in the attorney general’s race. Henrico Commonwealth’s Attorney Shannon Taylor raised about $534,000 and reported roughly $666,000 in the bank.
Jack White, a Republican attorney, raised just about $7,354.
Six other gubernatorial candidates also filed campaign finance reports, but none reported raising more than $27,000, according to VPAP.
While some campaigns are stockpiling cash for the long haul, others are burning through money almost as fast as they raise it.
Spanberger spent more than $2.7 million in the first quarter alone, an aggressive early investment in advertising, staff and campaign infrastructure to lock in support well ahead of the primary.
Sears, by contrast, kept her early spending tight and reported only $1.1 million in total expenditures during the same period.
Still, with over $15 million raised across Virginia’s top statewide races in just three months, candidates have already laid the financial groundwork for 2025, well ahead of the primary.
