Musk Spends $366 Million on 2026 Midterm Election Efforts

Elon Musk has spent approximately $366 million on the 2026 US midterm election cycle, including at least $276 million since July to support Republican groups and political action committees, according to campaign finance records cited by Reuters.

Elon Musk has directed hundreds of millions of dollars toward political groups supporting Republican candidates in the 2026 US midterm elections. [Photo: Gage Skidmore Flickr]

The spending makes Musk one of the largest political donors in the election cycle. A spokesperson for his America PAC confirmed the figures, Reuters reported.

Musk's donations come as Republicans seek to retain control of Congress in the November elections.

Democrats have improved their prospects of winning congressional seats, while some Democratic lawmakers have called for investigations into SpaceX's government contracts and Musk's role in the Department of Government Efficiency.

Of the $276 million reportedly donated since July, $158 million went to the Senate Leadership Fund, a political action committee supporting Republican Senate candidates.

Another $20 million went to the Congressional Leadership Fund, which supports Republican House candidates.

Musk also gave $76 million to America PAC, $10 million to the Lone Star Liberty PAC supporting Ken Paxton's US Senate campaign in Texas, $10 million to the Republican Governors Association and $2 million to the Republican Attorneys General Association.

The donations underscore Musk's growing role in US political fundraising.

His spending has attracted scrutiny because of his companies' government contracts and the potential for political decisions to affect their business interests.

Musk's financial support could provide Republican-aligned groups with substantial resources for advertising, voter outreach and other campaign activities. However, the effect of the spending on election results cannot be determined in advance.

The 2026 election cycle began on January 1, 2025, under the campaign finance reporting period used in the cited account.