Elon Musk has reportedly spent $366 million since last year to support the Republican Party in the United States midterm elections. The New York Times reported on October 12, 2026, that Musk has contributed $276 million since July, including $158 million for a super PAC focused on Republican Senate candidates, making him the largest single donor this year. Musk is known to be an ally of former President Donald Trump and served as a special government adviser to the White House in the previous year.
Musk’s political action committee, America PAC, confirmed the spending totals. A spokesperson stated that the investments were necessary to defend Congress from a potential Democratic takeover during the midterm elections.
Republican candidates are facing challenges due to Trump's declining popularity and rising concerns about the cost of living among voters. Democrats are aiming to leverage voter dissatisfaction with Trump's presidency to gain control of Congress, where Republicans currently hold majorities in both the House of Representatives and the Senate.
The influence of wealthy donors and PACs has been criticized for distorting US politics in favor of powerful interests. Musk became the world's first trillionaire in June 2026 when SpaceX made its initial public offering on the Nasdaq stock exchange. Despite previously stating he planned to reduce his involvement in US politics, Musk has continued to support right-wing groups globally.
Voters will head to the polls on November 3, 2026, for the midterm elections, which will determine key state and local races as well as congressional majorities. The Republican Party is reported to have a financial advantage over the Democrats, with significant spending from groups like MAGA Inc, a pro-Trump super PAC. As of August, MAGA Inc reportedly had $416 million available and had spent $22 million in the previous month on the Senate race in Texas. Trump has also increased his campaign activities, hosting rallies to support Republican candidates. However, Democrats express confidence that the Republicans' financial advantage may not be sufficient to overcome growing voter dissatisfaction with Trump.