Elon Musk spends $366 million on 2026 US midterm elections

Investing.com -- Elon Musk has contributed approximately $366 million to the 2026 US midterm election cycle, with $276 million donated since July to support Republican efforts to maintain control of Congress, according to campaign finance records.

The spending makes Musk likely the largest individual political donor in this year's races, according to the New York Times. A spokesman for his super PAC America PAC confirmed the figures.

Of the $276 million in third-quarter donations, $158 million went to the Senate Leadership Fund, the super PAC aligned with Senate Majority Leader John Thune that works to elect Republicans to the Senate. The Congressional Leadership Fund, which supports House Republicans and is aligned with House Speaker Mike Johnson, received $20 million.

Musk's America PAC received $76 million. The group is supporting Republican candidates in seven battleground states and nearly three dozen House races.

The Lone Star Liberty PAC, which backs Republican state Attorney General Ken Paxton's US Senate campaign in Texas, received $10 million. Recent polls show Paxton in a close race against Democrat James Talarico.

The Republican Governors Association received $10 million, while the Republican Attorneys General Association got $2 million.

The donations come as Democrats in the US House of Representatives have called for investigations into Musk's government contracts as CEO of aerospace company SpaceX, as well as his work running the Department of Government Efficiency under President Donald Trump.

Roughly $90 million spent this cycle paid for work done in the prior election or supported other issues, including an unsuccessful candidate for the Wisconsin Supreme Court and a program that paid $1 million to registered voters who signed a petition supporting free speech and gun rights, according to an America PAC spokesman.

Musk has also donated additional money through groups that do not disclose their donors, the New York Times reported.

During the last election cycle, Musk spent approximately $290 million when Trump won the presidential election against former Vice President Kamala Harris.

Original Article

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