Byron Donalds, an ally of President Donald Trump who raised over $40 million from real estate executives and companies, was elected as Florida’s 47th governor, making history as the Sunshine State’s first Black politician to hold the office.
Republican Donalds secured more than 50 percent of the vote from over four million voters, defeating Democrat challenger David Jolly, who received over 48 percent from more than 3.9 million voters. Jolly, a former Republican congressman who represented Florida’s 13th Congressional District before leaving the GOP last year, raised more than $780,000 from the real estate industry.
Tom Llamas, anchor of NBC Nightly News and former NBC 6 reporter in Miami, said Donalds was “one of the top three MAGA candidates on any ballot this year.” The journalist added that Donalds “was always by President Trump’s side, and he will be President Trump’s governor, with his Mar-a-Lago.”
Despite Donalds’ narrow victory, the majority of South Floridians voted for Jolly, including Palm Beach County, home to President Trump’s Mar-a-Lago residence. Jolly secured 59.9 percent of the vote in Miami-Dade from 411,000 voters, 65.5 percent in Broward from 429,000 voters and 55.6 percent from 314,000 voters in Palm Beach County. Donalds nabbed 45.9 percent in Miami-Dade from 357,000 voters, 33.4 percent in Broward from 219,000 voters and 43.4 percent from 245,000 voters in Palm Beach County.
Donalds’ top donor was Citadel’s billionaire founder and CEO Ken Griffin, who gave $10 million in July before the August primary and $5 million last month.
Real estate, large property owners and adjacent industries such as law, engineering, architecture and property insurance accounted for about 33 percent of Donalds’ $120.5 million in fundraising through the Friends of Byron Donalds PAC as of Sept. 25, compared with 11 percent of Jolly’s $7.3 million through Florida 2026 PAC, according to an analysis by The Real Deal. Donalds’ donations jumped to $156 million as of Nov. 2, and Jolly reached $13.9 million, which included a $1 million donation from billionaire hedge fund manager and Manalapan resident Henry Laufer in October.
As of Sept. 25, Donalds had spent $82.5 million, or 68 percent of his funds, while Jolly had spent about half, at $3.6 million, but spending picked up significantly in the last month before the general election. Donalds’ spending spiked 82 percent to $150 million as of Nov. 2, while Jolly spent $12.3 million.
Donalds campaigned on several policy proposals that could impact the real estate industry, including measures addressing housing affordability, insurance and condo ownership.
The incoming governor has called for allowing smaller housing units and speeding up permitting, arguing that government-related restraints and costs add to construction expenses.
On insurance, he supports eliminating a 25 percent surcharge paid into the Florida Hurricane Catastrophe Fund. He also backs Amendment 3, which would increase the homestead exemption, and has proposed changes to property tax portability and business taxes.
At a Congressional hearing earlier this year, Donalds advocated changing Fannie Mae condo lending rules that he said disadvantage Florida buyers by requiring 25 percent down with a 75 percent loan-to-value ratio, compared to 90 percent nationwide.
Donalds has said he supports local control over data center construction.
“It is now state law in Florida that if local governments say no data center, then no data centers,” Donalds said on WTVT.
Donalds will succeed Republican Gov. Ron DeSantis, who served two consecutive terms from 2018 to 2026. Florida’s last Democrat governor was Kenneth Hood “Buddy” MacKay, who served as lieutenant governor before taking over as governor from Dec. 12, 1998, to Jan. 5, 1999, following the unexpected death of Democrat Gov. Lawton Chiles.
In the race for Congressional District 25, former Boca Raton mayor Scott Singer fell to U.S. Rep. Jared Moskowitz. Singer secured 46.6 percent of the vote to Moskowitz’s 51.3, with about 2 percent counted toward Libertarian candidate Peter Jassenoff.
Moskowitz, a Democrat, ran on increasing affordability and lowering cost of living, along with protecting social welfare programs.
Singer, a Republican, is broadly viewed as pro-development. He supported Terra and Frisbie’s failed plans for the One Boca center, which would have redeveloped aging government buildings and a city park in a public-private partnership. He was also key in bringing a Brightline train station to Boca.
Public backlash against the One Boca project led to a referendum vote in March, in which voters struck down the plan. That vote was largely considered a rebuke of Singer’s administration as he left office.
Real estate players who backed Singer’s campaign include major Boca landlord James Batmasian, Dale Hedrick of Hedrick Brothers Construction, and Marc Leder and Rodger Krouse of investment firm Sun Capital Partners.
Singer’s loss marks a stumble for Florida Republicans and President Donald Trump, who pushed for the state to redraw the district’s map to favor the GOP ahead of midterms. The redistricting, adopted in May, shrank South Florida’s Democrat-heavy districts. The gerrymandering effort was estimated to add four red seats to the house, and District 25 was one.
Moskowitz was elected in 2022 to House District 23, representing Boca, Fort Lauderdale and part of Broward County. After his district was redrawn, he opted to run in the new District 25.
Read more
Real estate donations overwhelmingly back Byron Donalds over David Jolly in race for Florida governor
Florida real estate awaits its moment of truth when voters decide on property tax cuts
