Elon Musk, described by the Associated Press as the world's only trillionaire, has quietly become the biggest known donor in this year's U.S. midterm elections, doling out more than $276 million since July to try to save Republican majorities in Congress — yaani about $27.6 crore in dollar terms. The numbers were first reported by The New York Times ahead of this week's federal filing deadline and were confirmed by Andrew Romeo, a spokesperson for Musk's super PAC, AP reported.
Source: Associated Press
The money includes $158 million given to the Senate Leadership Fund, the main super PAC supporting Republican Senate candidates — one of the largest known political donations in American history, according to AP — and $76 million to America PAC, Musk's own super PAC, which has again built a major turnout operation like the one it used to help elect President Donald Trump in 2024. Musk also provided $10 million to Lone Star Liberty PAC, which supports the Republican nominee for Senate in Texas, Ken Paxton.
Source: Associated Press
Reuters put Musk's total political spending in the current election cycle at about $366 million, including the $276 million since July, and reported the wider breakdown also included $20 million to the Congressional Leadership Fund, $10 million to the Republican Governors Association and $2 million to the Republican Attorneys General Association. Senator Bernie Sanders criticised the spending on social media, writing: “STOP MUSK. STOP OLIGARCHY.” America PAC spokesman Andrew Romeo said Musk's money is giving Republicans “a fighting chance” in an election year when the president's party would ordinarily be expected to lose congressional seats, according to the Reuters-cited reporting.
Source: Reuters via USA Today News
It is a dramatic turnaround since last May, when Musk said he intended to cut back on future political spending. “I think I've done enough,” he said at the time, AP reported. Musk had a falling out with Trump while leaving his government post leading the Department of Government Efficiency, but the two have since reconciled, and Trump presented Musk with the National Medal of Science last week, AP reported.
What is at stake on November 3
The midterm elections on November 3 will determine control of the U.S. House and Senate. Despite the cash infusion, AP reported Musk has generally kept a lower profile than in 2024, when he appeared on stage next to Trump at rallies. His net worth has fluctuated around the trillion-dollar line this year and topped $1 trillion again last week, according to Forbes magazine, AP reported.