Musk spends $276m backing Republicans in midterms — Report

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.

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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

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