ELON MUSK SPENDS $366M TO BOOST REPUBLICANS IN US MIDTERMS

Sat 24 October 2026:

Tech Billionaire Becomes Year’s Largest Single Donor

Elon Musk, the trillionaire technology executive and supporter of far-right causes, has spent $366 million since last year to aid the Republican Party in the United States midterm elections, according to reports.

The New York Times reported Monday that Musk has poured $276 million into the effort since July alone, including $158 million for a super PAC targeting Republican Senate candidates. This makes him the largest individual donor of the year.

Musk is viewed as a close ally of President Donald Trump, who leads the Republican Party, and served as a special government adviser to the White House last year.

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PAC Defends Spending as Needed to Protect GOP Majority

Musk’s political action committee, America PAC, has verified the spending figures. A spokesperson described the record outlay as essential to prevent Democrats from gaining control of Congress in the midterms.

“These robust investments have allowed the GOP apparatus to get its message out so Republicans can have a fighting chance to defy history,” America PAC spokesman Andrew Romeo told the Times.

The heavy spending arrives as Republican candidates work to counter Trump’s low approval ratings and growing voter worries about the cost of living.

Democrats aim to take advantage of public discontent with Trump’s time in office to win majorities in Congress, where Republicans currently control both the House of Representatives and the Senate.

Critics have long argued that large contributions from wealthy donors and political action committees warp American politics toward the priorities of powerful interests.

Musk’s Earlier Pledge to Step Back from Politics

Musk became the world’s first trillionaire in June after his aerospace firm SpaceX completed its initial public offering on the Nasdaq.

The entrepreneur had earlier indicated he intended to reduce his role in US politics. In May he said he had “done enough” and had no plans for major additional spending.

Nevertheless, Musk has used his technology holdings and fortune to back right-wing organizations internationally.

Last year, for example, German politicians accused him of attempting to interfere in the country’s national election. He has openly supported the Alternative for Germany (AfD) party, which has faced criticism for its positions on immigration and related matters.

Republicans Hold Financial Edge as Election Nears

US voters will cast ballots on November 3 in the midterms, which will determine key state and local contests as well as control of Congress.

The Republican Party is seen as holding a significant financial lead over Democrats ahead of the vote, helped by spending from groups such as MAGA Inc, a pro-Trump super PAC named for the president’s “Make America Great Again” movement.

As of August, MAGA Inc reportedly held $416 million. The tracking site AdImpact said the group spent $22 million in the past month alone on the competitive race for an open Senate seat in Texas.

Trump has stepped up his campaign appearances, holding a series of rallies in the final weeks before the election to promote the Republican message.

Democrats, however, express confidence that the Republican spending advantage will not overcome rising dissatisfaction with Trump.

“Republicans are hoping to buy these elections, injecting tens of millions into races to try and outrun their unpopular candidates, unpopular president and unpopular economy,” said Lauren French, a spokesperson for the Democrats’ Senate Majority PAC.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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