Billionaire Elon Musk has donated $276 million to political organisations backing Republican candidates ahead of the November 3 United States midterm elections, according to a report by The New York Times.
The report, published on Monday, said the contributions were made since July, bringing Musk’s total political spending in the current election cycle to $366 million.
Musk’s donations have made him the largest individual donor in the election cycle, with a significant portion of the funds directed towards helping Republicans retain control of the Senate.
The Republican Senate Leadership Fund emerged as the biggest beneficiary, receiving $158 million to support the party’s candidates in the upper chamber of Congress.
The technology entrepreneur, who heads Tesla and SpaceX, has previously spent heavily on American elections. In 2024, he contributed about $290 million to support President Donald Trump’s successful re-election bid.
Musk subsequently became involved in the Trump administration, overseeing its Department of Government Efficiency (DOGE), an initiative established to reduce government spending.
His role ended following a public disagreement with Trump, although the pair have since reconciled. The president presented Musk with the National Medal of Science at an event in Washington, DC, last week.
Despite federal limits on direct contributions to individual candidates, wealthy donors can channel larger sums through political action committees (PACs) and other political organisations operating under separate campaign finance rules.
Musk reportedly contributed $76 million to America PAC, his own political action committee, during the summer.
Other Republican-aligned organisations that received funding include the Congressional Leadership Fund, which received $20 million, and the Republican Governors Association, which got $10 million.
The Lone Star Liberty PAC also received $10 million, while the Republican Attorneys General Association was given $2 million.
The donations come as political parties intensify preparations for the November midterm elections, which will determine the composition of the US House of Representatives and Senate.
The outcome will shape the political environment in which Trump pursues the remainder of his legislative agenda.
Musk’s latest contributions underscore the role of major donors and political fundraising organisations in financing election campaigns in the United States.
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