Tech billionaire Elon Musk has contributed $276 million to organisations supporting the campaigns of right-wing US candidates ahead of the upcoming midterm elections, according to US media reports on Monday.
The contributions, all made since July, make Musk the largest single donor for the 3 November elections. His total political spending has reached $366 million in the current election cycle, according to The New York Times.
The main beneficiary of his funding is the Republicans’ Senate Leadership Fund, which received $158 million to help the party retain its narrow control of the upper house of the US Congress, reports AFP.
Musk also allocated $76 million to his own political action committee, America PAC, during the summer, the newspaper reported.
His wider financial support for Republican organisations includes $20 million for the Congressional Leadership Fund, $10 million each for the Republican Governors Association and the Lone Star Liberty PAC, and $2 million for the Republican Attorneys General Association.
Under US campaign finance regulations, individual direct contributions to a candidate’s campaign are capped at $3,300 per person. However, loopholes in the campaign finance system allow major political donors to channel funds through political action committees, or PACs, which support political candidates.
Musk’s latest political spending follows his $290 million contribution in 2024 to help US President Donald Trump win re-election.
After Trump’s victory, Musk was allowed to work at the White House for several months, overseeing his cost-cutting Department of Government Efficiency (DOGE) initiative. However, Musk left the role following a public falling-out with the president.
The two have since reconciled. Last week, Trump awarded Musk the National Medal of Science at an event in Washington, DC.
