by Steven Richards
Tech mogul Elon Musk has emerged as the Republican Party’s most important midterm donor, funneling more than $276 million into Republican campaigns and political action committees since July.
The enormous sum makes Musk the largest known midterm donor, according to campaign finance records Musk’s team shared with The New York Times on Monday.
Musk has poured $158 million, nearly 60% of his contributions this summer, into the Senate Leadership Fund, the super PAC backing the Republican Party’s Senate candidates across the country. Musk has also donated over $76 million to his own America PAC, which he founded in 2024. The group is operating in seven key Senate battleground states.
Musk’s spending has given the Republican Party a boost across the country, further cementing the party’s financial advantage over the Democrats, who continue to face money issues heading into the midterm elections.
Musk, who oversees a technology empire composed of companies like X and SpaceX, is the world’s richest man. At the beginning of the Trump administration, Musk led efforts to streamline the federal government and cut waste as the head of the Department of Government Efficiency, or DOGE.
Musk departed the administration after a public spat with President Trump, a dramatic about-face from his strong backing of the candidate in the 2024 election. However, the pair have since reconciled, though Musk’s support of Republicans has remained quieter since he departed the government.
According to Polymarket, an online prediction market, Democrats have a 62% chance of taking the House and Senate, while Republicans have a 10% chance of maintaining control of both chambers.
Polymarket gives Republicans a 29% chance of maintaining the Senate while Democrats take the House.
Cook Political Report, a nonpartisan election analyzer, says the Senate has 7 toss-up elections and the House has 21 toss-up elections.
Last week, President Donald Trump awarded Musk the National Medal of Science for “exemplary achievement and leadership in science and technology,” according to the White House.
Musk received the award for “engineering achievements of extraordinary ambition and scale that have pushed the frontiers of space exploration, intelligent systems, communications, and beyond, renewing American technological leadership and opening a new chapter in American manufacturing.”
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Steven Richards is a reporter for Just the News. Zachery Schmidt is the digital editor of The Star News Network and contributed to this story.
