Who is Pete Ricketts? The multimillionaire senator from a family that poured over $100 million into US politics and is contesting in the Nebraska Senate race in US midterms

In Nebraska, Republican Senator Pete Ricketts and his family have attracted attention for the scale and reach of their political spending. A Flatwater Free Press (FFP) analysis discovered that Pete Ricketts and his parents, Joe and Marlene Ricketts, have contributed over $100 million to federal races since 2005.

Who is Pete Ricketts?

Pete Ricketts is a Republican politician, former two-term Nebraska governor and current US senator. The eldest son of billionaire businessman Joe Ricketts, he entered the Senate following Nebraska Governor Jim Pillen appointed him to fill the seat vacated by Ben Sasse.

Ricketts first ran for the US Senate in 2006, spending $12 million of his own money to challenge Democrat Ben Nelson. He lost by almost 28 percentage points. He later ran for governor, winning the Republican primary and general election with the help of a broader fundraising effort and political adviser Jessica Flanagain.


Ricketts said his interest in politics started in 2004, when he joined the board of the anti-gambling coalition Gambling with the Good Life.

How much has the Ricketts family spent on politics?

As per FFP's analysis, the family spent at least $9.8 million on Nebraska political campaigns and causes during the decade Pete Ricketts ran for and served as governor. Before his gubernatorial campaigns, their spending had not surpassed $400,000 in any state campaign cycle, based on available Nebraska Accountability and Disclosure Commission records.

Their contributions elevated as Ricketts prepared to leave office. The family spent $5.4 million during that cycle, much of it supporting Jim Pillen's successful gubernatorial campaign. Pillen subsequently appointed Ricketts to the Senate.

Nationally, Joe, Marlene and Pete Ricketts combined contributed over $100 million to federal races since 2005, much of it to super PACs, which can raise unlimited amounts of money under applicable guidelines. FFP noted that the total excludes specific political organisations, including nonprofit 527 groups.

Why has Ricketts' political spending drawn attention?

The family's donations have gone beyond Pete Ricketts' own campaigns to legislative races, local contests, ballot measures and political action committees. FFP found that, at most, 12% of the trio's overall Nebraska contributions went to Pete Ricketts' own campaigns, while the remaining 88% supported other candidates, campaigns and causes.

Former Nebraska governor Dave Heineman said large contributions from a sitting governor could carry specific political importance.

One example involved Republican Matt Williams, who ran for the University of Nebraska Board of Regents in 2022. A political action committee called the Nebraska Future Action Fund, bankrolled almost completely by then-Governor Ricketts, financed mailers attacking Williams. Ricketts and Flanagain have described their approach as supporting the most conservative candidate in a race who can win.

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What is Pete Ricketts' net worth?

Quiver Quantitative estimated Ricketts' net worth at around $160 million as of early September, positioning him fourth among the wealthiest US senators as per its tracker. Federal Election Commission records showed that his political contributions totalled around $886,000 in the 2022 cycle and $2.6 million through June of the election cycle covered by the FFP report.

Who is Ricketts facing in the 2026 Senate race?

Ricketts is running against Democrat Preston Love to serve the remainder of his Senate term. Through June, the Ricketts family had contributed around $1.7 million, representing 5% of Nebraska's recorded political contributions for the cycle, as per FFP. More than half went towards a ballot measure intended to preserve existing abortion restrictions and permit extra restrictions.

The effect of Ricketts' Senate appointment on his family's future political spending continues to be uncertain. Brendan Glavin, OpenSecrets' deputy research director, said the question would increasingly concern the influence Ricketts wants to maintain in Nebraska and whether political decisions mirror his priorities.

Source: Nebraska Public Media