Musk directs $366 million to help Republicans hold Congress
Elon Musk has spent about $366 million this election cycle, including at least $276 million since July, backing Republicans in the US Congress.
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what happened
Newsmetry API reports that Elon Musk has spent roughly $366 million to help Republicans retain control of the US Congress. At least $276 million was given to Republican groups and Musk’s own super PAC since July, even as Democrats’ prospects of retaking the House and Senate have improved.
Campaign finance records indicate that Musk is likely the biggest political donor in this year’s races. The spending was confirmed by a spokesman for his America PAC. House Democrats are seeking investigations into SpaceX’s government contracts, where Musk is chief executive, as well as his work leading the Department of Government Efficiency under President .
Of the $276 million donated in the third quarter, $158 million went to the Senate Leadership Fund, aligned with Senate Majority Leader John Thune; $20 million went to the Congressional Leadership Fund, aligned with House Speaker Mike Johnson; and $76 million went to America PAC. The Lone Star Liberty PAC received $10 million to support Texas Attorney General Ken Paxton’s Senate bid, while the Republican Governors Association and Republican Attorneys General Association received $10 million and $2 million, respectively.
America PAC is supporting Republican candidates in seven battleground states and nearly three dozen House contests. The latest contributions will become public on Thursday, when many super PACs must report third-quarter spending. An America PAC spokesman said about $90 million spent this cycle covered work from the prior election or other causes, including an unsuccessful Wisconsin Supreme Court candidate and a controversial $1 million payment program for registered voters who signed a petition supporting free speech and gun rights. Musk spent roughly $290 million in the previous cycle.
why it matters
The scale of Musk’s political spending keeps attention on the potential direction of US economic and regulatory policy after the elections, as well as risks for companies linked to him.
instruments
sources
- Musk has spent $366 million to help Republicans retain control of Congress — Newsmetry API, 12 October 2026 at 16:05 UTC
- Musk has spent $276 million on midterms to help Republicans retain control of Congress — Newsmetry API, 12 October 2026 at 20:44 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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