Elon Musk directs $366 million to US midterm elections

Elon Musk is currently likely the largest political donor during the 2026 US midterm elections. According to campaign finance data, the billionaire has already spent approximately $366 million as part of the election campaign that began on 1 January 2025.

Main focus on retaining control of Congress

The figure is striking in its dynamics: $276 million was spent since July alone. These funds were directed towards helping Republicans retain control of the US Congress, despite the Democratic Party’s chances of regaining control of the House of Representatives and the Senate having improved.

The distribution of funds was as follows:

• $158 million went to the Senate Leadership Fund, which is the main support fund for Republicans in the Senate.
• $76 million was received by America PAC — a political committee created by Elon Musk. This organisation supports candidates from the Republican Party in seven key states and in nearly three dozen House of Representatives districts.

Comparison with the presidential campaign

For context, it is worth noting that in the last presidential elections, where Donald Trump defeated Kamala Harris, Elon Musk spent approximately $290 million.

Additional information about new donations will become known after many Super PACs disclose their third-quarter spending. This data is due to be published on Thursday.