Musk Spends $276m Backing Republicans Ahead of US Midterm Elections

Technology billionaire Elon Musk has reportedly contributed $276 million to organisations supporting Republican candidates ahead of the November 3 midterm elections in the United States.

The contributions, made since July, have positioned Musk as the largest individual donor in the current election cycle, according to reports by US media. His total political spending during the cycle has reached $366 million.

The largest recipient was the Senate Leadership Fund, a political action committee supporting Republican Senate candidates, which received $158 million to help the party retain control of the upper chamber of Congress.

Musk also contributed $76 million to his America PAC, while the Congressional Leadership Fund, which supports Republican candidates for the House of Representatives, received $20 million.

Other beneficiaries included the Republican Governors Association and the Lone Star Liberty PAC, which each received $10 million, as well as the Republican Attorneys General Association, which received $2 million.

The spending comes as Republicans seek to maintain their majorities in Congress during the midterm elections, which will determine control of the House and Senate.

Musk, chief executive of Tesla and SpaceX, previously spent heavily during the 2024 US presidential election, contributing about $290 million to support President Donald Trump's re-election campaign.

He subsequently joined the Trump administration for several months, overseeing the Department of Government Efficiency, an initiative focused on reducing government spending. However, the relationship between the two men deteriorated publicly before they later reconciled.

Trump presented Musk with the National Medal of Science at an event in Washington last week.

Under US campaign finance rules, direct contributions to individual candidates are subject to limits, while political action committees can raise and spend funds to support candidates and election campaigns.

Musk's latest contributions underline the significant role wealthy donors and political action committees play in financing American election campaigns.