Elon Musk. Photo: IMAGE PRESS AGENCY / NURPHOTO / NURPHOTO VIA AFP
Tech billionaire Elon Musk, the world’s richest man, has contributed $276 million to organisations boosting the campaigns of right-wing American candidates ahead of upcoming midterm elections, US media reported Monday.
The sum, all contributed since July, positions Musk as the largest single donor for the November 3 elections, according to the New York Times. He has spent a total of $366 million this election cycle.
The largest funding recipient was the Republican’s Senate Leadership Fund, receiving $158 million, aimed at maintaining the party’s control of the upper house of Congress despite a slim margin.
The SpaceX and Tesla boss is no stranger to massive US election spending, having contributed $`290 million in 2024 to help US President Donald Trump win reelection.
Trump allowed Musk to work in the White House for several months overseeing his cost-cutting Department of Government Efficiency (DOGE) venture, but exited the role after a public falling out with the president.
They’ve since reconciled, and Trump awarded Musk the National Medal of Science at an event in DC last week.
Though individual campaign donations in the United States are capped at `$3,300 per person, loopholes in the US campaign finance system allow political mega donors to contribute to funds known as political action committees or “PACs,” which support candidates.
Musk donated $76 million this summer to his own America PAC, the New York Times reported.
Other recipients of Musk’s political funding include $20 million to the Republican’s Congressional Leadership Fund, $10 million each to the Republican Governors Association and the Lone Star Liberty PAC, and $2 million to the Republican Attorneys General Association.
AFP
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]