Elon Musk, the world’s richest man, reportedly spent $366 million on political activities during the 2026 U.S. midterm election cycle, including $276 million since July to help Republicans retain control of Congress. These expenditures come as the Democrats’ chances of retaking the House of Representatives and the Senate have improved significantly over the past three months, a development that has Republicans concerned. Musk’s donations will most likely make him the largest political donor of this election cycle, investing a fortune to keep the MAGA movement in power.
“When it comes to political spending, I’m going to significantly reduce my investments in the future,”
Musk stated in 2025, asserting that he would not spend money on this year’s midterm elections.
Millions Donated to Republican Campaigns
The vast majority of Musk’s donations have gone directly to Republican campaigns. Among Musk’s recent expenditures are $158 million donated to the Senate Leadership Fund, a super PAC aligned with Senate Majority Leader John Thune, a Republican from South Dakota. An additional $20 million was contributed to the Congressional Leadership Fund, which supports Republicans in the House of Representatives and is aligned with House Speaker Mike Johnson of Louisiana. Musk also contributed $76 million to America PAC, his own political organization, which supports Republican candidates in seven key states and nearly three dozen House districts.
If Democrats take control of Washington and win key gubernatorial and attorney general elections this coming November, then America risks becoming a socialist, “woke,” and borderless country
Andrew Romeo, spokesperson for America PAC.
Spending to influence the Texas election race
Musk’s third-quarter donations also included $10 million for the Lone Star Liberty PAC, which supports Texas Attorney General Ken Paxton’s campaign for the U.S. Senate. Paxton is running against Democrat James Talarico in a race where recent polls show the candidates in a dead heat. Musk contributed an additional $10 million to the Republican Governors Association and $2 million to the Republican Attorneys General Association, thereby extending his financial support beyond the congressional elections to include Republican campaigns at the state level.
These latest donations were confirmed by a spokesperson for America PAC. Much of this spending is expected to be made public on Thursday, when the super PACs release their third-quarter financial reports. According to a New York Times article cited by Reuters, Musk has also contributed funds through organizations that do not disclose the identities of their donors, meaning that the figures made public may not reflect the true extent of his political activity.
Democrats Call for Investigations
Musk’s political spending comes as House Democrats have called for investigations into his government contracts through SpaceX, the aerospace company he heads, as well as his role as head of the Office of Government Efficiency under President Donald Trump. These ties could come under close scrutiny by Congress if Democrats regain control of the House in November. Musk’s financial support for Republican candidates therefore comes at a time when the election could determine the extent of Congress’s oversight of his companies and his work within the Trump administration.
Previous Campaign Spending
Musk spent approximately $290 million during the previous election cycle, when Trump defeated former Vice President Kamala Harris in the 2024 presidential election. His spending in the current cycle has already exceeded that amount, according to figures provided by a spokesperson for America PAC. However, about $90 million of this cycle’s spending has gone toward activities related to the previous election or other political issues, including support for an unsuccessful candidate for the Wisconsin Supreme Court and a controversial program offering $1 million to registered voters who signed a petition in support of free speech and the right to bear arms.
A Close Race in the Midterm Elections
The 2026 midterm elections will determine control of both chambers of Congress, with Republicans seeking to retain their majority and Democrats attempting to regain power. Musk’s donations are focused on organizations aimed at supporting Republican candidates for the Senate and the House of Representatives, as well as state-level campaigns. America PAC is also active in key states and competitive House districts, where these expenditures could help candidates reach voters and organize their campaigns. The scale of Musk’s contributions ranks him among the most influential donors in this year’s elections.
Musk’s total political spending for the current election cycle began accumulating on January 1, 2025, and includes contributions made prior to the latest wave of donations. The $276 million contributed since July represents a substantial portion of his overall spending, with the majority of that amount going to groups aligned with the Republican Party. The full breakdown of third-quarter donations should become clear once the corresponding campaign finance reports are made public. The outcome of the November elections will determine whether these expenditures will help Republicans retain control of Congress or whether Democrats will win the majorities they are seeking.
Musk is spending $276 million to help Republicans win the midterm elections
