The most expensive Senate race per vote ever is in a state of just 1 million people

Ben Kesslen
·2-min read
Photo: Matthew Brown (AP)
Photo: Matthew Brown (AP)

The most expensive Senate race in history is currently happening in one of the least populated states.

According to Bloomberg, the race between Democratic incumbent Jon Tester and Republican Tim Sheehy has seen an influx of billionaire cash on both sides, putting it on track to reach a total of $250 million in spending. That’s about $250 per vote, as Montana has a population of just over 1 million people, setting it up to be the most expensive race ever on a per-vote basis.

Tester is the lone Democrat holding statewide office in Montana. He is vying for a fourth term in the Senate, where he has managed to keep his place after a series of close races. Polls are currently showing him behind. His loss would be a crucial pickup for Republicans hoping to capture control of the Senate.

“It’s going to be the hardest election he’ll ever have for sure,” Chris Koski, a political science professor at Reed College, told Bloomberg. “Trump being on the ballot energizes voters who are not traditionally turning out, and it makes it difficult to predict.”

Tester has received support from some big names in the finance world, like CEO of Goldman Sachs (GS) David Solomon and Blackstone (BX) COO Jonathan Gray.

Sheehy has billionaire backers too, like Blackstone CEO Stephen Schwarzman, Citadel CEO Ken Griffin, and Co-Founder of AQR Capital Management Cliff Asness, according to Bloomberg.

Tester is focusing his campaign on issues facing Montana and has not endorsed Vice President Kamala Harris’ election bid. He has also been hoping to use Sheehy’s spotty record against him. Sheehy made a derogatory comment about Native Americans at a 2023 campaign event, saying people are “drunk at 8am” on the Crow reservation. Montana has one of the highest percentages of Native American residents in the country. He also once said he accidentally shot himself at a national park and then contradicted himself, saying it happened while he was serving in Afghanistan.

Sheehy, meanwhile, has tried to paint Tester, a moderate Democrat, as a liberal in line with the Biden-Harris agenda.

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