New Leadership Now spent $5.4M on independent expenditures in the 2026 federal elections, and 68% of it helped Republicans (FEC filings with varying coverage dates; the most common larger-campaign cutoff is Oct 14, 2026). Among dollars with a matched election-stage result, 46% were on the winning side ($1.3M won, $1.5M lost, with $2.7M in races still being counted). $0 had no matched result and is excluded.
Outside spending
$5.4M
Winning share of scored dollars
46%
$2.7M scored (50% of spending); $0 unknown
On the losing side
$1.5M
$2.7M still being counted
Supporting vs attacking
23% / 77%
$1.3M for, $4.1M against
Google says New Leadership Now also spent $273K on Google and YouTube ads this cycle (5% of its FEC-reported outside spending). All ad buyers →
Follow the money
Who filled the envelope
- Elisa StadIndividual$4.3M (75%)
- Dan GillespieIndividual$400K (7%)
- Maurice DucaIndividual$250K (4%)
- Gillespie Family TrustCompany / nonprofit$225K (4%)
- David TrujilloIndividual$100K (2%)
- Jim CoulterIndividual$100K (2%)
- Common Blue StrategiesCompany / nonprofit$77K (1%)
- Neil MehtaIndividual$50K (1%)
- Scott GilbertsonIndividual$50K (1%)
- Jared MiddlemanIndividual$50K (1%)
The people behind it
The people giving to New Leadership Now
- Elisa StadSelf · CA$4.3M4 gifts
- Dan GillespiePartner · Dragoneer Investment Group · CA$400K
- Maurice DucaPartner · Igsb · CA$250K
- David TrujilloPartner · Tpg · CA$100K
- Jim CoulterFounding Partner · Tpg · TX$100K
- Neil MehtaManaging Partner · Greenoaks Capital · IL$50K
- Scott GilbertsonInvestor · Tarrant Capital · CA$50K
- Jared MiddlemanInvestor · Dragon Investment Group · CA$50K
- Jason MomentFounder · Route One Investment Company · WY$25K
- Ben SloopPresident · Amwins · NC$25K
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- Kareem ZakiInvestor · Thrive · FL$25K
- Andrew GassAttorney · Latham & Watkins · CA$25K
- Amir NathooCEO · Outschool · CA$10K
- Peter HebertVenture Capitalist · Lux Capital · CA$10K
- Russ FradinCEO · Larridin · CA$10K
- Benjamin BolognaPortfolio Manager · Citadel Americas LLC · CA$5K
- Jesse WedlerGeneral Partner · Capitalg · CA$5K
- Renaud LaplancheCEO · Upgrade, Inc. · CA$5K
Names, employers and occupations are as the committee reported them to the FEC. People with the same name in the same state are counted as one person. Federal law bars using these names to ask for money or for any commercial purpose.
Where the money went
| Candidate | Race | Spending | Amount | Won? |
|---|---|---|---|---|
| Mike Thompson | California 4th District | Attacking | $2.7M | Counting |
| Mike Thompson | California 4th District (primary) | Attacking | $1.5M | ✗ No |
| Eric Jones | California 4th District (primary) | Supporting | $1.3M | ✓ Yes |
Questions people ask
- How much did New Leadership Now spend in 2026, and did it win?
- New Leadership Now spent $5.4M on independent expenditures in the 2026 federal elections, and 68% of it helped Republicans (FEC filings with varying coverage dates; the most common larger-campaign cutoff is Oct 14, 2026). Among dollars with a matched election-stage result, 46% were on the winning side ($1.3M won, $1.5M lost, with $2.7M in races still being counted). $0 had no matched result and is excluded.
- Who funds New Leadership Now?
- Its biggest reported donors in the 2026 cycle were Elisa Stad ($4.3M), Dan Gillespie ($400K), Maurice Duca ($250K), Gillespie Family Trust ($225K), David Trujillo ($100K), out of $5.7M received from donors tracked here.
- Which candidates did New Leadership Now spend the most on in 2026?
- against Mike Thompson (California 4th District, $2.7M, pending); against Mike Thompson (California 4th District, $1.5M, lost); for Eric Jones (California 4th District, $1.3M, won).