COLUMBUS, Ohio — Vivek Ramaswamy and a supportive political action committee have spent nearly $9 million on ads during a six-week period for the Ohio gubernatorial race. His opponent, Democrat Dr. Amy Acton, has spent just $100,000.
The Republican's campaign and V-PAC: Victors, Not Victims, a super PAC dedicated to electing him, have spent $9 million on ads from May 15 to the end of June.
"We have our work cut out for us," Ramaswamy said in an event on Tuesday, addressing how he plans to reinvigorate the "American dream" after getting elected. "We're starting from a great position."
Together, Ramaswamy and the PAC have spent more than $5 million on traditional TV, $1.9 million on streaming, nearly $1 million on cable, more than $260,000 on digital, about $130,000 on satellite and more than $14,000 on radio ads.
As of May, Ramaswamy had raised about $50 million, half coming from himself. Billionaires have begun donating to V-PAC, according to federal campaign finance reports. Elon Musk, the Texas-based tech mogul who was supposed to co-chair the Department of Government Efficiency with Ramaswamy, gave $5 million. Philadelphia businessman Jeff Yass has given $10 million; Russia-born entrepreneur Ratmir Timashev has donated $5 million; New York City hedge fund manager Bill Ackman has given $1 million, as has NYC real estate developer Stephen Ross.
"No gubernatorial campaign in Ohio history has ever put up numbers like this, and it sends a clear message: Ohioans are fired up for Vivek, our campaign is growing, and we will win big in November," Ramaswamy's campaign manager, Jonathan Ewing, said about their previous fundraising numbers.
Ramaswamy, after being endorsed by the Ohio Chamber of Commerce, explained how he felt receiving a slew of support from business entities.
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"It is a signal of different stakeholder groups across our state coming together and to be united in standing for an economic vision of success," Ramaswamy said.
But the ads on screen aren't working for everyone.
"You can't buy Ohio, and you can't buy us," Acton said in an interview.
In comparison, during that same time period, AdImpact reported that Acton and a PAC supporting her have spent nearly $100,000 just on digital ads. 314 Action, a PAC dedicated to getting healthcare professionals elected, spent nearly $11,000, while her campaign used $87,000.
"Everyone is feeling the pressures of everyday life not being affordable, and unlike my self-funding billionaire opponent, I've been doing the work of public service my entire career," Acton said.
In early July, she announced raising nearly $18.5 million, a record-breaking number for Democrats, but still eclipsed by Ramaswamy.
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"We've set a record every single quarter for fundraising in this race, and I started with nothing, no war chest, no self-funding," she said.
I asked her team why she wasn't spending on ads, given that she has raised plenty of money. They neglected to address that question.
"Ramaswamy has spent millions of dollars to try and salvage his floundering campaign without moving the needle," Acton's spokesperson, Addie Bullock, said in part of a statement.
Strategists explain that there are plenty of other costs in campaigns, and for her, money isn’t disposable.
With how much each side is raising in this race, the ads will not be slowing down.
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