US Midterms: Elon Musk Becomes Largest Political Donor, Spends Over $442 Million on Republican Campaigns

October 24, 2026

US: Billionaire Elon Musk has emerged as the biggest individual political donor ahead of the November 3 US midterm elections, contributing more than $442 million to Republican candidates and political groups.

The latest campaign finance filings show that Musk added another $76.8 million to his America PAC over the past month. This takes his spending on the 2026 election cycle beyond the $442 million mark, according to reports cited by The Hill.

Musk had already spent around $366 million supporting Republican candidates and groups. His latest contribution marks a major return to political spending after he previously indicated that he planned to scale back his involvement.

Musk’s donations target key Republican races

A large share of Musk’s political money has gone to groups working to help Republicans retain control of Congress. His donations have supported several Republican-aligned political action committees, including the Senate Leadership Fund, America PAC and the Congressional Leadership Fund.

Musk contributed $158 million to the Senate Leadership Fund through two donations in September. The group is a major financial backer of Republican Senate candidates. It later transferred corresponding amounts to a Texas-based political action committee supporting Republican Senate candidate Ken Paxton.

Paxton, the Texas attorney general, is facing Democratic challenger James Talarico in a closely watched Senate contest. The race has attracted substantial spending from groups aligned with both sides.

Musk also donated $10 million to the pro-Paxton Lone Star Liberty PAC. Other contributions included $20 million to the Congressional Leadership Fund, $10 million to the Republican Governors Association and $2 million to the Republican Attorneys General Association.

Political spending rises ahead of November vote

Musk created America PAC during the 2024 election cycle. The group has since become a key part of his efforts to support Republican campaigns, including through voter outreach and other election-related activities.

During the 2024 election cycle, Musk spent more than a quarter of a billion dollars backing Donald Trump and other Republican candidates. His renewed involvement comes after concerns among Republicans that he might reduce his political contributions following a public dispute with Trump last year.

The November 3 midterm elections will determine control of both chambers of Congress. The results will have a direct impact on President Donald Trump’s legislative agenda and the balance of political power in Washington.

Musk’s latest donations have made him a central financial figure in the midterm campaign, with much of his support directed towards Republican groups seeking to protect the party’s congressional majorities.