Billionaire Vivek Ramaswamy’s millions and Greg Abbott’s $106 million war chest couldn’t stop Democrats from flipping Texas and Ohio
· Fortune
Republicans backed by nine-figure sums lost governor’s races Tuesday night. In Texas, Gov. Greg Abbott conceded to Democrat Gina Hinojosa despite entering the year with $105.7 million on hand. In Ohio, Democrat Amy Acton defeated Vivek Ramaswamy, a billionaire who put tens of millions of his own dollars into the race. And in Iowa, Democrat Rob Sand won the governorship, the first Democrat to do so since 2006.
Texas
Abbott conceded at 10 p.m., ending his bid for a record fourth term. Hinojosa, a Democratic state representative, will be the first Latina governor of Texas and the first Democrat elected governor there since 1990. With votes still being counted, she led Abbott 57% to 42%.
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Abbott entered 2026 with $105.7 million on hand. His top donors in the second half of 2025 included Midland oil executive Javaid Anwar, who gave more than $1.6 million, and casino magnate Miriam Adelson, who gave $1 million. Both candidates ran on lowering costs. Abbott favored tax and regulation cuts, while Hinojosa proposed one-time $1,500 checks and stronger consumer protections.
Her win came the same night Democrat James Talarico won the state’s Senate race over Ken Paxton, whom Elon Musk spent more than $200 million trying to elect.
Ohio
Acton, the state’s former health director, defeated Ramaswamy, NBC News and Decision Desk HQ projected. The 60-year-old is the first woman elected governor of Ohio and, according to the AP, the first Democrat to win the seat in 20 years. She won despite more than $100 million spent against her, including an estimated $36 million of Ramaswamy’s own money.
The race turned in its final weeks on a Ramaswamy attack ad featuring Acton’s estranged mother, Donna Arthur, calling her daughter a liar about her childhood. Court documents show Acton’s stepfather was arrested for raping her as a child, and that Arthur lost custody before the couple fled the state to avoid trial, the Ohio Capital Journal reported. Acton has said she hasn’t seen her mother in nearly 50 years.
The ad drew criticism from both parties. Republican Gov. Mike DeWine, who is term-limited, called on Ramaswamy to take it down, though he kept his endorsement of the Republican. Trump and Vice President JD Vance defended the ad, and Trump said he was jealous he’d never had the chance to run a similar attack against a rival, the AP reported. Acton called it “absolutely despicable” and saw a late surge in fundraising after it started airing.
Iowa and Georgia
Democrat Rob Sand, the state auditor, defeated Republican businessman Zach Lahn, the AP projected. He is the first Democrat elected Iowa governor since Chet Culver in 2006. Sand, 44, ran on affordability, expanding health care access and ending Medicaid privatization, and often talked about how his Christian faith guides him. He aimed his campaign at disaffected Republicans and independents. He’ll govern with Republican majorities in both chambers of the state legislature.
Democrat Keisha Lance Bottoms, the former Atlanta mayor, defeated Republican billionaire Rick Jackson to succeed term-limited Gov. Brian Kemp, NBC News projected. She is the first Black woman elected governor in U.S. history and the first Democrat elected governor of Georgia since 1998. Like Democrats elsewhere, she ran on affordability and economic issues.
This story was originally featured on Fortune.com