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Billionaire Vivek Ramaswamy’s millions and Greg Abbott’s $106 million war chest couldn’t stop Democrats from flipping Texas and Ohio

Reported by Fortune
Nov 4, 2026· 3 min read
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Key Takeaways
  • • Democrat Gina Hinojosa led Republican Gov. Greg Abbott 57% to 42% in Texas with votes still being counted, after Abbott conceded at 10 p.m. ending his bid for a record fourth term despite entering 2026 with $105.7 million on hand.
  • • Democrat Amy Acton defeated billionaire Vivek Ramaswamy in Ohio, per NBC News and Decision Desk HQ projections, despite more than $100 million spent against her including an estimated $36 million of Ramaswamy's own money.
  • • Democrat Rob Sand won the Iowa governorship over Republican Zach Lahn, the first Democrat elected Iowa governor since Chet Culver in 2006.
  • • Democrat Keisha Lance Bottoms defeated Republican billionaire Rick Jackson in Georgia, becoming the first Black woman elected governor in U.S. history and the first Democratic Georgia governor since 1998.
  • • Democrats won on affordability platforms, with Hinojosa's proposed $1,500 one-time checks and Sand's health care focus outlasting nine-figure GOP spending.
Summary
Republicans backed by nine-figure sums lost governor's races on Tuesday night, according to the primary report. In Texas, Gov. Greg Abbott conceded to Democrat Gina Hinojosa, a state representative, ending his bid for a record fourth term. Abbott had entered 2026 with $105.7 million on hand, and his top second-half 2025 donors included Midland oil executive Javaid Anwar, who gave more than $1.6 million, and casino magnate Miriam Adelson, who gave $1 million. With votes still being counted, Hinojosa led 57% to 42%. She will be the first Latina governor of Texas and the first Democrat elected governor there since 1990. Abbott favored tax and regulation cuts, while Hinojosa proposed one-time $1,500 checks and stronger consumer protections. The same night, Democrat James Talarico won the Texas Senate race over Ken Paxton, whom Elon Musk spent more than $200 million trying to elect. Trump posted on Truth Social that Abbott would not have lost had he not become a "RINO" in his final six months in office.

In Ohio, Democrat Amy Acton, the state's former health director, defeated Ramaswamy, according to NBC News and Decision Desk HQ projections. Acton, 60, is the first woman elected Ohio governor and, per the AP, the first Democrat to win the seat in 20 years. The race turned in its final weeks on a Ramaswamy attack ad featuring Acton's estranged mother, Donna Arthur. Court documents cited by the Ohio Capital Journal show Acton's stepfather was arrested for raping her as a child and that Arthur lost custody before the couple fled the state. The ad drew bipartisan criticism; Gov. Mike DeWine asked Ramaswamy to take it down while keeping his endorsement, and Trump and JD Vance defended it. Acton called it "absolutely despicable" and reported a late fundraising surge after it began airing.

In Iowa, Democrat Rob Sand, the state auditor, defeated Republican businessman Zach Lahn, the AP projected. Sand, 44, campaigned on affordability, expanding health care access and ending Medicaid privatization, aiming at disaffected Republicans and independents. He will govern with Republican majorities in both legislative chambers. In Georgia, Democrat Keisha Lance Bottoms, the former Atlanta mayor, defeated Republican billionaire Rick Jackson to succeed term-limited Gov. Brian Kemp, NBC News projected. Bottoms is the first Black woman elected governor in U.S. history and the first Democrat elected Georgia governor since 1998, running on affordability and economic issues.

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Fortune Billionaire Vivek Ramaswamy’s millions and Greg Abbott’s $106 million war chest couldn’t stop Democrats from flipping Texas and Ohio