Republican businessman Eric Hovde conceded defeat on Monday in the closely contested Wisconsin U.S. Senate race, ending speculation over a potential recount. Democratic incumbent Tammy Baldwin was declared the winner by approximately 29,000 votes, with Hovde alleging that a Democrat-backed third-party candidate undermined his campaign.
Hovde, a bank owner and real estate developer, acknowledged the race’s narrow margin—less than 1 percentage point—but declined to pursue a recount, citing concerns over fueling further political division. In a video statement, Hovde voiced concerns about absentee ballot irregularities in Milwaukee. His claims were dismissed by election officials from both parties, as well as nonpartisan observers, who found no evidence of impropriety.
In his X post, Hovde explained, “Without a detailed review of all the ballots and their legitimacy, which will be difficult to obtain in the courts, a request for a recount would serve no purpose because you will just be recounting the same ballots regardless of their integrity.”
Central to Hovde’s grievance was the candidacy of Thomas Leager, a far-right America First Party candidate who received fewer votes than the margin separating Baldwin and Hovde. Leager’s campaign was reportedly supported by Democratic donors, a strategy Hovde called a deliberate effort to split the conservative vote. Leager finished fourth, drawing votes away from Hovde in a race Republicans had hoped to flip.
Despite investing millions of his own funds into the campaign, Hovde has not ruled out future political bids. GOP insiders have suggested he could run for governor in 2026, leveraging his high profile and financial resources. For now, Baldwin’s victory secures her a third term in the Senate, maintaining the seat for Democrats in a pivotal battleground state.
