Shapiro grows his donor network ahead of 2028

Pennsylvania Governor Josh Shapiro Capitalizes on Book Tour for National Fundraising

Pennsylvania Governor Josh Shapiro is strategically leveraging his book tour and 2026 reelection campaign to cultivate a national fundraising network that could serve him well in a prospective 2028 presidential run. This dual-purpose endeavor is not merely an exercise in literary promotion; it’s a calculated move to establish connections with influential donors who could bolster his future political ambitions.

Last month, while on his book tour in Massachusetts, the governor hosted a fundraising luncheon, marking at least the third such event in the state over the past year. This deep-blue territory has a history of nurturing presidential hopefuls with significant financial backing. Notably, one of the previous fundraisers occurred at the residence of Jonathan Kraft, Jewish philanthropist and president of the New England Patriots, in April — a detail that had previously flown under the radar. Shapiro also participated in another fundraiser on Nantucket, a renowned summer hotspot for affluent donors, in July, as confirmed by an attendee and invitations procured by POLITICO.

These events contribute to an extensive repertoire of networking opportunities for the possible contender for the White House, who has established himself as an effective fundraiser both within Pennsylvania and on a national scale. In 2025 alone, Shapiro raised an impressive $23 million, aided significantly by contributions from notable figures such as former New York City Mayor Michael Bloomberg ($2.5 million), a PAC associated with the Soros family ($1 million), and substantial sums from media moguls James and Kathryn Murdoch, as well as the Kraft family ($120,000 combined). This has enabled him to amass a formidable $30 million war chest for the current political cycle, positioning him well against likely Republican opponent, state Treasurer Stacy Garrity, who managed to raise nearly $1.5 million last year and kicked off 2026 with $1 million in the bank.

Shapiro’s book tour serves as a side hustle amidst a landscape where several potential Democratic rivals for the 2028 nomination are simultaneously courting donors across the nation while managing their own reelection campaigns.

In public, Shapiro is quick to quash any speculation regarding a 2028 run, maintaining a steadfast focus on his reelection efforts and supporting Democrats further down the ballot. “No one should be looking past these midterms,” he remarked to reporters in Washington, D.C., who were bombarding him with hypothetical scenarios.

Behind closed doors, sources suggest that Shapiro remains equally disciplined. His messaging consistently emphasizes his leadership in the politically mixed state of Pennsylvania and advocates for Democrats to prioritize economic concerns in the upcoming midterms, all while sidestepping discussions about his post-2026 aspirations, as noted by attendees at his donor events last year.

“The smartest strategy for Shapiro and others on the 2026 ballot is to assert, ‘I’m running for reelection right now and I’m fully engaged in this battle.’ This approach effectively transforms 2026 into a strategic audition for any eventual 2028 endeavors,” explained Alex Hoffman, a Democratic strategist and donor advisor.

Shapiro’s out-of-state fundraising efforts are already yielding positive results; in 2025, he garnered over $700,000 from prominent Massachusetts donors alone, including $260,000 from construction magnate John Fish and $50,000 from telecommunications tycoon Robert Hale. His fundraising prowess also attracted contributions from Hollywood elites and tech innovators, such as $100,000 from Sony film executive Tom Rothman and $200,000 from Ripple co-founder Chris Larsen.

However, the governor’s expansive donor base is not without its controversies. Garrity has publicly urged Shapiro to return over $2 million in campaign contributions linked to billionaire Reid Hoffman, a figure repeatedly mentioned in the Jeffrey Epstein files. Hoffman contributed $500,000 to Shapiro’s campaign last year. Additionally, Shapiro accepted $50,000 from New York Giants co-owner Steve Tisch, who, like Hoffman, has also been connected to Epstein. Both Hoffman and Tisch have since issued statements distancing themselves from the late convict.

“Stacy Garrity should cease politicizing the Epstein files. Donald Trump appears in those files over 5,000 times. Is she planning to demand he rescind his endorsement?” Shapiro spokesperson Manuel Bonder remarked in response to Garrity’s allegations. Bonder declined to comment on the particulars of Shapiro’s fundraising events.

As Shapiro continues to expand his donor network, he faces the challenge of distinguishing himself nationally. While he has benefited from long-standing “institutional donors” within Pennsylvania who consistently support Democratic governors, he is still relatively unknown outside this circle. As noted by veteran Pennsylvania Democratic strategist Neil Oxman, “Of the thousands of individuals who raise money on a national level, he likely knows only a fraction. He has gained some national recognition, but he is neither Gavin Newsom nor the Clintons.”

Moreover, Shapiro’s substantial financial resources earmarked for state campaigns cannot be transferred to finance a federal campaign, placing him at a notable disadvantage compared to other 2028 aspirants who are already accumulating millions in federal leadership committees, super PACs, and congressional campaign accounts that could be repurposed when necessary.

“This is why it can be challenging to run for office when you are simultaneously seeking another position,” Oxman concluded.

A version of this article first appeared in POLITICO Pro’s Morning Score. For a daily dose of policy news and insights, consider subscribing to POLITICO Pro and stay informed on the most pressing stories of the day.