> ## Content Index > Fetch the complete content index at: https://utahpolitics.news/llms.txt > Use this file to discover other available public pages before exploring further. # Deep pockets: Utah Gov. Spencer Cox raised $1.6M in 2025, mostly from big donors - URL: https://utahpolitics.news/deep-pockets-utah-gov-spencer-cox-raised-1-6m-in-2025-mostly-from-big-donors/ - Published: 2026-01-13T22:44:36.000Z - Updated: 2026-01-20T16:45:26.000Z - Description: Nearly half of Cox's 2025 fundraising total came from just 19 donors - Author: Bryan Schott - Tags: Spencer Cox, Campaign Finance, #lightbox Utah Republican Gov. Spencer Cox raised $1.611 million in 2025 and burned through more than $1.425 million, with a donor pool dominated by corporate interests and regulated industries. According to year-end financial disclosures, his campaign reported $1,611,000 raised in 2025, his biggest off-cycle haul since taking office in 2020, and spent more than $1,425,000\. He reports more than $440,000 in the bank. Cox has announced he won’t run for a third term in 2028. Just 19 donors giving $20,000 or more supplied nearly half of Cox’s 2025 fundraising haul. Ten corporate donors alone cut $50,000 checks apiece, totaling $500,000, or roughly 31% of the total. More than two of every three dollars (70%) came from just 55 donors who contributed $10,000 or more. In total, approximately 200 donors gave at least $1,000, and their combined contributions accounted for more than 99% of Cox’s fundraising. Small dollar donations of $500 or less made up less than 0.3% of the total. ![](https://storage.ghost.io/c/ff/05/ff054ad9-05eb-4301-bd7c-0d7e2e111eac/content/images/2026/01/cox_donations_concentration-1.png) Corporate and industry money—much of it from sectors regulated by the state—poured into Cox’s campaign in 2025. Construction and real estate interests kicked in nearly $300,000, which is notable given Cox’s focus on [addressing Utah’s housing crisis](https://www.npr.org/2025/09/02/nx-s1-5431545/starter-homes-utah-housing-cost-affordable-target?ref=utahpolitics.news). Clyde Companies, Price Realty Group, Seddie LLC, Reef Capital Partners, and Holly House Holdings each donated $50,000\. Cox also took $25,000 from New York real estate developer Gary Barnett, whose company is [building a ski resort in Deer Valley](https://expandedexcellence.deervalley.com/anchoring-the-expanded-terrain-deer-valley-resort-and-extell-development-company-unveil-deer-valley-east-village/?ref=utahpolitics.news) with the assistance of the state’s [Military Industrial Development Authority](https://www.midaut.org/?ref=utahpolitics.news) (MIDA), which provides state tax dollars to fund infrastructure on military-related projects. One major energy-sector donor was [Torus, Inc](https://www.torus.co/?ref=utahpolitics.news)., which gave $50,000\. Torus figures prominently in [Cox’s “Operation Gigawatt,”](https://www.bloomberg.com/news/articles/2025-09-09/magnetar-bets-200-million-on-torus-energy-storage-expansion?ref=utahpolitics.news) his push to double Utah’s energy capacity in the next decade. Torus also donated $50,000 to Cox in 2024. Other energy and utility donors included Deseret Power Electric Cooperative ($28,500), PacifiCorp ($15,000), Dominion Energy ($10,000), and Chevron ($7,500). Healthcare and insurance donors included UnitedHealthCare ($10,000), WCF Insurance ($15,000), and Regence BlueCross BlueShield ($5,000). Big Pharma and Big Tech also chipped in: the Pharmaceutical Research and Manufacturers of America (PhRMA), which donated $10,000, Vertex Pharmaceuticals ($5,000); Draper-based 1-800 Contacts ($15,000); DoorDash ($10,000); and Airbnb ($4,000). ![](https://storage.ghost.io/c/ff/05/ff054ad9-05eb-4301-bd7c-0d7e2e111eac/content/images/2026/01/cox_donations_overview.png) Cox listed several high-profile individual donors on his disclosure, including real estate developer J. Steven Price ($25,000), entrepreneur and former congressional candidate Case Lawrence ($35,000), and Vivint founder Todd Pedersen ($25,000). ### Where the money went Cox’s annual Governor’s Gala fundraiser at the Grand America Hotel in November was a massive fundraiser—and an expensive one—with costs nearing $500,000\. The venue alone cost nearly $170,000\. Flowers for the event topped $45,000\. Entertainment featured two comedians—Ryan Hamilton and Joe Zimmerman. Hamilton was paid more than $50,000 for the private performance, while Zimmerman was paid $20,000\. The campaign also paid $5,000 to the [SLC Mass Choir](https://www.makinggodfamous.live/about-us?ref=utahpolitics.news). For his 2024 gala, Cox hired The Killers’ frontman Brandon Flowers for a private show at $100,000\. A video of Cox crowdsurfing during the performance made the rounds on social media following the event. > What an awesome night! Here is a video of [@GovCox](https://twitter.com/GovCox?ref%5Fsrc=twsrc%5Etfw&ref=utahpolitics.news) crowd surfing to [@BrandonFlowers](https://twitter.com/BrandonFlowers?ref%5Fsrc=twsrc%5Etfw&ref=utahpolitics.news) singing Mr. Brightside. [#utpol](https://twitter.com/hashtag/utpol?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=utahpolitics.news) [pic.twitter.com/F3zeEbyZXy](https://t.co/F3zeEbyZXy?ref=utahpolitics.news) > > — Joseph Nixon (@JoeyJMNixon) [September 24, 2024](https://twitter.com/JoeyJMNixon/status/1838409765325541480?ref%5Fsrc=twsrc%5Etfw&ref=utahpolitics.news) The campaign shelled out nearly $190,000 for his second inauguration at the Eccles Theater in Salt Lake City in January and nearly $75,000 to stage the annual Governor’s Golf Tournament fundraiser at Wasatch Mountain Golf Course. Cox’s campaign donated nearly $30,000 to political candidates and organizations in 2025, including $5,000 to the Conservative Millennials PAC and $2,500 to the Utah County Legislative PAC. The campaign also gave $20,000 to the [Utah’s First Lady Foundation](https://www.showuputah.org/about?ref=utahpolitics.news) and $10,000 to the [Utah Food Bank](https://www.utahfoodbank.org/?ref=utahpolitics.news). Nearly a quarter of Cox’s 2025 disbursements went to [Election Hive](https://www.electionhive.com/?ref=utahpolitics.news), the consulting firm co-owned by his cousin Jon Cox. More than $355,000 flowed to Election Hive for campaign management and fundraising services. Curiously, the campaign also spent more than $11,000 on ads on X/Twitter in 2025, with roughly $9,000 of that coming in late December.