Former U.S. Rep. Abigail Spanberger (left), and Lt. Gov. Winsome Earle-Sears. (Parker Michels-Boyce and Mechelle Hankerson for the Virginia Mercury)
The Virginia governor’s race is heating up as the latest fundraising reports reveal an early financial showdown between former U.S. Rep. Abigail Spanberger, who is seeking the Democratic nomination, and Lt. Gov. Winsome Earle-Sears, the likely Republican nominee. Both candidates have brought in millions, but Spanberger’s head start has left her campaign with a sizable cash advantage.
The Democrat from Prince William, who launched her campaign in November 2023, reported raising $2,501,153, in the most recent fundraising period between September and December 2024, according to data from the Virginia Public Access Project, a nonprofit tracking money in politics. Her campaign now sits on an impressive $6.5 million war chest as of Dec. 31.
“We’ve seen an outpouring of grassroots support over the last year,” said Samson Signori, Spanberger’s campaign manager. “Virginians across all of our counties and cities are excited about Abigail Spanberger serving them as the next governor of Virginia.”
Spanberger’s team credits her vision for Virginia, including plans to invest in education, economic growth, and protecting rights, for energizing supporters.
Meanwhile, Earle-Sears, who announced her campaign in September, narrowly outraised Spanberger in the last four months of 2024, pulling in $2,563,086 in the same period. The lieutenant governor, however, reported $2.1 million in cash on hand at year’s end — significantly less than Spanberger’s reserves.
“The fight for Virginia’s future is in full swing, and the rush of grassroots and financial support for Winsome over just four months has placed our campaign in a position of great strength,” said Tucker Obenshain, Earle-Sears’ finance director.
Obenshain emphasized Earle-Sears’ compelling story as a Jamaican immigrant, U.S. Marine Corps veteran, and small business owner as a key factor in her appeal.
While both candidates tout strong grassroots support, the financial figures highlight the early dynamics of a race that most polls show is neck-and-neck. Although a new survey by the Wason Center at Christopher Newport University released Thursday gives Spanberger a 5-point edge over Earle-Sears — with 16% undecided — other recent polls by Emerson-College Polling and Mason-Dixon reveal Spanberger and Earle-Sears locked in a dead heat 11 months before the election.
While Spanberger’s significant cash advantage could provide her campaign with greater flexibility, Earle-Sears’ rapid fundraising over just four months suggests a high level of enthusiasm among her supporters.
“All indications are that this is going to be a very close contest for governor,” said Stephen Farnsworth, a political scientist at the University of Mary Washington. “You can see that the lieutenant governor has been very effective in fundraising since you announced, but she hasn’t quite caught up with Spanberger who had a big headstart in terms of her campaign.”
Farnsworth noted that he expects both national parties will want “the bragging rights” for winning this contest to shape a narrative going into the midterm elections. “So you can expect lots of Washington interest and Washington money in the Virginia governor’s race,” he said.
In the lieutenant governor’s contest, Republican John Curran, a business consultant from James City County and a political newcomer, leads the pack financially — but mostly due to self-financing. Curran, who ran unsuccessfully for the Board of Supervisors in 2023, reported $1,000,645 in receipts during the most recent fundraising period, bolstered by a $1 million loan he made to his own campaign.
Among the Democrats, Sen. Ghazala Hashmi, D-Richmond, emerged as the top fundraiser, reporting $553,335 in contributions between July 1 and Dec. 31. Hashmi, who has positioned herself as a progressive champion, finished the year with $546,748 in her campaign account.
Sen. Aaron Rouse, D-Virginia Beach, raised $335,130 during the same period, but he currently holds the largest Democratic war chest, with $665,551 cash on hand. Rouse, a former NFL player, has leaned on his name recognition and strong network of local supporters.
Prince William County School Board Chairman Babur Lateef brought in $216,304 over the past six months, ending the year with $280,342 in his campaign fund. Meanwhile, former Richmond
Mayor Levar Stoney, who shifted from gubernatorial ambitions to the lieutenant governor race, raised $184,731 and reported $513,831 cash on hand.
Victor Salgado, a former federal prosecutor and late entrant to the race, raised $78,710 in December after launching his campaign in November. He ended the year with $78,336 in his account.
Carl Eggleston, a businessman from Farmville, lags significantly behind in fundraising. Eggleston reported $3,600 in contributions — including a $3,000 personal loan — and closed the year with just $955 on hand.
In the race for Virginia attorney general, Republican incumbent Jason Miyares holds a significant financial lead over his challengers, including three Democrats vying to unseat him. Miyares, seeking a second term, raised $1,399,698 between July 1 and Dec. 31 and ended the year with $1,278,143 cash on hand.
Jay Jones, a former Democratic state delegate from Norfolk, is in second place financially. Jones, who lost the 2021 Democratic attorney general primary to then-incumbent Mark Herring, announced his second bid for the office in November. He raised $878,036 for his campaign since August and reported $785,447 cash on hand by year’s end.
Shannon Taylor, the commonwealth’s attorney for Henrico County, brought in $184,108 during the last six months of 2024, finishing the year with $359,527 in her campaign account.
Meanwhile, Jack White, a Northern Virginia attorney, reported no additional contributions during the same period, leaving him with $7,354 in his campaign fund.
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