Montana’s Senate race is the most expensive per vote ever

The most expensive Senate the race in history is currently taking place in one of the least populated states.

According to Bloombergthe race between incumbent Democrat Jon Tester and Republican Tim Sheehy saw an influx of billionaire cash on both sides, leading to a total of $250 million in spending. That’s about $250 per vote, since Montana has a population of just over 1 million people, making it the most expensive race ever on the ballot.

Tester is the only Democrat to hold statewide office in Montana. He is running for a fourth term in the Senate, where he managed to retain his seat after a series of close races. Polls currently show him behind. His loss would be a crucial setback for Republicans hoping to take control of the Senate.

“It’s going to be the toughest election he’s ever had for sure,” Chris Koski, a political science professor at Reed College, told Bloomberg. “Putting Trump on the ballot energizes traditionally absent voters and makes it difficult to predict.”

Tester has received support from big names in the financial world, such as the CEO of Goldman Sachs (GS) David Solomon and Blackstone (BX) COO Jonathan Gray.

Sheehy also has billionaire backers, such as the CEO of Blackstone Stephen SchwarzmanCEO of Citadel Ken Griffinand AQR Capital Management co-founder Cliff Asness, according to Bloomberg.

Tester is focusing his campaign on issues facing Montana and has not endorsed Vice President Kamala Harris. He also hoped to use Sheehy’s spotty record against him. Sheehy made a derogatory comment about Native Americans at a 2023 campaign event, saying people were “drunk at 8 in the morning” on the Crow reservation. Montana has one of the highest percentages of Native American residents in the country. He said it once more accidentally shot himself in a national park and later contradicted himself, saying it happened while he was serving in Afghanistan.

Meanwhile, Sheehy tried to paint Tester, a moderate Democrat, as a liberal in line with the Biden-Harris agenda.