Musk has spent $276 million since July backing Republicans in the midterms

Elon Musk is putting more money into the 2026 midterms than anyone else in American politics, and most of it has moved in the last three months.

Musk has spent roughly $366 million in this election cycle as of October 12, with at least $276 million of it going to Republican groups and his own super PAC since July, according to campaign finance records first reported by The New York Times and confirmed by a spokesman for his America PAC.

The biggest single piece is $158 million to the Senate Leadership Fund, the super PAC aligned with Senate Majority Leader John Thune that exists to elect Republicans to the Senate. That one donation is more than the rival Democratic Senate super PAC raised in the entire third quarter. Another $20 million went to the Congressional Leadership Fund for House Republicans, $10 million to the Republican Governors Association, $2 million to the Republican Attorneys General Association and $10 million to Lone Star Liberty PAC, which backs Texas Attorney General Ken Paxton's Senate run, where polls show a dead heat with Democrat James Talarico.

America PAC itself spent $76 million, much of it on a canvassing operation that deployed nearly 3,000 paid canvassers in the week of October 5 across seven Senate battleground states and almost three dozen House races. An America PAC spokesman said the spending gives Republicans a fighting chance to defy history, and warned against Democrats taking control of Washington.

The scale is a reversal from last year, when Musk fell out with President Trump and announced he was leaving to form his own America Party. He also has direct stakes in the outcome: House Democrats have called for investigations into his government contracts at SpaceX and into his work running the Department of Government Efficiency. Three weeks before November 3, the richest man in the world is the Republican Party's largest single financier.