Politics

Musk Dumps $366 Million to Support GOP in U.S. Midterms

By Reuters and The Associated Press

Elon Musk has spent $366 million on Republican causes in the United States since last year, according to a New York Times report. The tech billionaire has poured $276 million into Republican‑aligned efforts since July, including $158 million for a super PAC that backs Senate candidates, making him the largest single donor this election cycle. Musk’s America PAC confirmed the totals and said the spending was necessary to protect Congress from a Democratic takeover. America PAC spokesman Andrew Romeo told the Times that the investments give the GOP a fighting chance to defy history. Republicans are facing challenges from Donald Trump’s declining popularity and voters’ concerns about the cost of living. Democrats hope to exploit dissatisfaction with Trump to win control of Congress, where Republicans currently hold majorities in both chambers. Wealthy donors and PACs have long faced criticism for influencing politics. Musk became the world’s first trillionaire in June when SpaceX’s IPO lifted his net worth above $1 trillion. He had previously said he would step back from U.S. politics, but has continued to support right‑wing groups worldwide, including the Alternative for Germany party. U.S. voters will go to the polls on November 3 for the midterms, which will decide key state and local races and congressional majorities. The Republican Party has a sizable financial advantage, with groups such as MAGA Inc. reporting $416 million in the bank as of August. The tracking site AdImpact noted that MAGA Inc. spent $22 million in the past month on the tight Texas Senate race. Trump has also ramped up campaign activities, hosting rallies in the final weeks before the election. Democrats, however, remain confident that Republican spending will not overcome growing dissatisfaction with Trump. “Republicans are hoping to buy these elections, injecting tens of millions into races to try and outrun their unpopular candidates, unpopular president and unpopular economy,” said Lauren French, spokesperson for Democrats’ Senate Majority PAC.