Tesla and SpaceX CEO Elon Musk has spent approximately $366 million during the 2026 US midterm election cycle, making him potentially the largest individual political donor in this year’s congressional races.
Of that amount, at least $276 million has been contributed since July to Republican political organizations and Musk’s own super political action committee (PAC) to help Republicans retain control of Congress, Reuters reports, citing campaign finance records.
According to figures available by mid-October, Musk allocated $158 million to the Senate Leadership Fund, a super PAC aligned with Republican Senate Majority Leader John Thune.
Another $76 million went to Musk’s America PAC, which supports Republican candidates in key battleground states and congressional districts.
The billionaire also contributed $10 million to the Lone Star Liberty PAC, which supports Republican Ken Paxton’s campaign for the US Senate in Texas.
Additional contributions included $20 million to the Congressional Leadership Fund, which supports Republican House candidates.
Approximately $90 million of Musk’s spending during the current election cycle, which began on January 1, 2025, was directed toward activities related to the previous election or other political initiatives.
These included support for an unsuccessful candidate in the Wisconsin Supreme Court election.
Musk’s political contributions have positioned him as one of the most influential financial backers of Republican candidates ahead of the November 3 midterm elections.
The elections will determine control of all 435 seats in the House of Representatives and 35 seats in the 100-member Senate.
Musk’s extensive spending comes as Republicans seek to maintain their congressional majorities during President Donald Trump’s second term.