Of the total, $276 million was spent since July, including $158 million provided to a super PAC focused on Republican Senate candidates
TBS Report
13 October, 2026, 08:30 am
Last modified: 13 October, 2026, 08:33 am
Elon Musk has spent $366 million since last year to support Republicans in the US midterm elections, making him the year's largest single political donor, according to figures confirmed by his political committee, America PAC.
Of the total, $276 million was spent since July, including $158 million provided to a super PAC focused on Republican Senate candidates, says Al Jazeera.
Andrew Romeo, a spokesman for America PAC, said the contributions were intended to help Republicans compete in the elections.
"These robust investments have allowed the GOP apparatus to get its message out so Republicans can have a fighting chance to defy history."
The spending marks a reversal from Musk's comments in May, when he said he had "done enough" and did not plan any major political spending efforts in the US.
Musk significantly increased his financial backing after becoming the world's first trillionaire in June following SpaceX's initial public offering on Nasdaq.
A close ally of President Donald Trump, Musk served as a special White House adviser last year. He has also faced international criticism for using his wealth to support right-wing causes, including the Alternative for Germany (AfD) party.
Republicans seek to protect congressional majorities
The spending comes as Republicans seek to retain control of both the House of Representatives and the Senate ahead of the 3 November vote, amid voter concerns over the cost of living and low presidential approval ratings.
Republican-aligned groups also hold substantial financial resources. The pro-Trump super PAC MAGA Inc reported $416 million in its coffers as of August and spent $22 million in a single month on a closely contested open Senate race in Texas.
Critics argue that large donations from wealthy individuals give powerful interests disproportionate influence over the political process.
Democrats have said heavy campaign spending will not overcome public dissatisfaction with Republican candidates, Trump and the economy.
Lauren French, a spokesperson for the Democrats' Senate Majority PAC, said: "Republicans are hoping to buy these elections, injecting tens of millions into races to try and outrun their unpopular candidates, unpopular president and unpopular economy."