Record-Breaking Campaign Costs
An analysis by New Jersey's election finance watchdog reveals that the state's latest governor race was not only the costliest in its history but also one of the most expensive such contests ever seen in the United States.
According to the New Jersey Election Law Enforcement Commission, candidates and external organizations expended more than $259.3 million throughout the primary and general elections to determine the successor to term-limited Democratic Governor Phil Murphy.
This amount places it as the fourth-highest spending in a U.S. gubernatorial election historically, or sixth when accounting for inflation, as stated by ELEC.
National Comparison
In the ranking of most expensive governor races, California's 2010 election leads with $404.5 million, followed by Illinois in 2018 ($368.5 million), Illinois in 2022 ($321.9 million), Florida in 2010 ($296.4 million), and New York in 2002 ($265.4 million).
Joe Donohue, ELEC's deputy director, commented, "It is now evident that this year’s gubernatorial election was the most expensive New Jersey election in state history by a large margin. It was also one of the top 10 costliest gubernatorial elections ever in the nation."
Democrat Mikie Sherrill emerged victorious over Republican Jack Ciattarelli last month to become New Jersey's 57th governor.
Notable Financial Aspects
This election is distinguished as the country's priciest governor race without a wealthy candidate primarily funding their own campaign. The five higher-ranked contests involved $665 million in personal funds from affluent contenders, according to ELEC.
The twelve candidates in New Jersey's primary or general elections contributed only $125,000 of their own money, representing a mere 0.05% of the total expenditure.
The previous spending record for a New Jersey gubernatorial election was set in 2005, when Democrat Jon Corzine defeated Republican Doug Forrester. That race cost $145.2 million total, with $73 million coming from personal wealth.
This year's $259.3 million total surpassed that mark by approximately $114 million.
Additional Records
The election also established several other milestones:
It featured the most expensive primary and general elections in state history.
It included the largest public funding allocation for a New Jersey governor race, at $63.4 million.
Independent groups spent $157.8 million, the highest ever in such a contest, exceeding the previous record of $41.7 million in 2021.
For the first time, independent groups ($157.8 million) outspent candidates ($101.6 million) in a New Jersey governor race.
Moreover, the election cost more than double the other governor race this year in Virginia, which saw $117 million in spending.
Candidate Breakdown
Former state lawmaker Jack Ciattarelli, making his third bid for governor, raised $21.5 million and spent $19.8 million. Congresswoman Mikie Sherrill raised $21.1 million and spent $19.3 million.
However, Sherrill and supporting groups combined to spend $15.6 million more than Ciattarelli and his backers. Over $78.5 million was spent to support Sherrill, compared to $62.9 million for Ciattarelli.
