This article details the five candidates who raised the most money and lost their election. In the 2022 election cycle, 30 of 30 general elections were contested. The losing candidates are shown along with the percentage of the vote they received compared to the winner. In cases where the race was pushed to a runoff, vote percentages for both advancing candidates are included.

Arizona politics became a battleground of national interest during the contentious tabulation of 2020 election results. While it’s state-level races may not have pulled in quite the volume of outside money that other highly-publicized battlegrounds drew, Arizona elections still managed to attract some major nationwide donors.