Elon Musk has poured more than $445 million into the US election cycle, emerging as one of the biggest political donors in American history as he backs President Donald Trump’s Republicans in the November midterm elections, according to a report by Bloomberg.
The world’s richest person contributed $77 million to America PAC, his political action committee, in the first two weeks of October, according to Federal Election Commission filings. The committee spent $43 million during the same period and ended with $46.5 million in cash, as it stepped up efforts to help Republicans win crucial congressional contests.
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Musk’s spending puts him well ahead of other major political donors, including billionaire hedge fund manager George Soros, a prominent Democratic backer, and Republican supporters Jeffrey Yass and Richard Uihlein. His financial firepower adds to the Republican Party’s existing fundraising advantage over Democrats ahead of elections that will determine control of both chambers of Congress.
Trump, the Republican Party and its congressional super PACs raised $2.1 billion through the end of the third quarter, compared with $1.3 billion raised by their Democratic counterparts. The financial edge offers Republicans a boost as they face a challenging electoral environment.
Musk’s money flows into key Senate battles Musk’s America PAC has spent $71 million supporting Republicans in the midterms, targeting high-stakes Senate contests in Texas, Ohio, Michigan, Iowa and Maine, alongside more than 30 competitive House districts where Republicans are fighting to retain their majorities.
The biggest outlay has been in Texas, where Democrat James Talarico is challenging Republican Ken Paxton, the state attorney general, in the Senate race. America PAC has spent $33.1 million on the contest, while a separate Republican-aligned group, Texas PAC, has spent $181 million since September 11.
In September, Musk contributed $158 million to the Senate Leadership Fund, the main super PAC backing Republican Senate candidates. T
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