New Jersey’s hotly contested governor’s race was one of the most expensive in U.S. history

This year’s heated battle to become New Jersey’s next governor was not only the most expensive election in state history but one of the most costly gubernatorial contests America has ever seen, according to an analysis by the state’s election finance watchdog.

Candidates and outside groups spent more than $259.3 million across the primary and general elections in the race to succeed term-limited Democratic Gov. Phil Murphy, the New Jersey Election Law Enforcement Commission revealed in a report released Monday.

That’s the fourth-most amount ever spent on a governor’s race in U.S. history — or the sixth-most when adjusted for inflation, ELEC said.

California’s 2010 gubernatorial election ($404.5 million) ranks first, 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).

“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,” Joe Donohue, ELEC’s deputy director, said in a statement.

Democrat Mikie Sherrill defeated Republican Jack Ciattarelli last month to become New Jersey’s 57^th governor.

This also appears to be the country’s most expensive governor’s race in which there wasn’t a wealthy candidate largely financing their own campaign. The five that rank above this one featured a combined $665 million in personal money spent by wealthy contenders, ELEC said.

The 12 candidates who ran in either New Jersey’s primary or general elections this year spent a combined $125,000 of their own money — or just 0.05% of the total money spent.

The previous record-holder for the most expensive Jersey gubernatorial contest was coincidentally 2005, when Democrat Jon Corzine beat Republican Doug Forrester. Those two spent a combined $73 million of their personal wealth in a race that cost $145.2 million total across the primary and general elections.

The $259.3 million price tag of the 2025 election shattered that mark by about $114 million.

And it wasn’t the only record it set. The race also:

• Had the most expensive primary and most expensive general elections in state history.

• Included the largest allotment of public funds ($63.4 million) in a Jersey governor’s race. 

• Saw the most money spent by independent groups in a Jersey election, at $157.8 million. The previous mark was $41.7 million in 2021.

• Marked the first time independent groups ($157.8 million) outspent candidates ($101.6 million) in a Jersey governor’s race. 

The election also cost more than twice as much as the other governor’s race in the country this year — Virginia, which saw $117 million in spending.

Broken down by candidate, Ciattarelli, a former state lawmaker making a third bid for governor, raised $21.5 million and spent $19.8 million. That’s more than Sherrill, a congresswoman who raised $21.1 million and spent $19.3 million.

But Sherrill and the groups that supported her combined to spend $15.6 million more than what Ciattarelli and his backers spent. More than $78.5 million was spent to boost Sherrill, compared to $62.9 million for Ciattarelli.

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