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Elon Musk Has become the largest individual donor in the 2026 US midterm election cycle. The billionaire has sent large sums of money to Republican candidates and political groups. Their spending comes as campaign costs reach record levels. Much of his support has gone to closely watched Senate races, including Texas.
Elon Musk tops individual donors as US midterm spending hits record high in 2026
BBC Confirm reports that Musk has spent nearly $500 million supporting Republican causes during this election cycle. Most of the money went to America PAC, the super PAC he founded in 2024, and the Republican-leaning Senate Leadership Fund. Super PACs can accept unlimited donations from individuals, companies, labor unions, and political committees. They are not allowed to give any money directly to candidates, and can spend it freely on candidates for or against them.
Musk’s spending has focused heavily on Texas, where Republican Ken Paxton is facing Democrat James Talarico in the Senate race. America PAC has invested more than $45 million in the contest, according to data reviewed by BBC Verify. The group has invested about $10 million in each Senate race in Michigan and Ohio. There has been big spending in those contests as both parties fight for control of the Senate.
Musk is not the only wealthy donor to fund the election. The Brennan Center for Justice says the 40 largest donors gave $2.4 billion as of Oct. 14, a record for that point in the midterm cycle. Groups associated with George Soros gave $102 million to liberal organizations, while Michael Bloomberg gave more than $60 million to Democrats. Republican donors Jeff Yass and Richard and Elizabeth Uihlein each donated more than $100 million to Republican causes.
OpenSecrets estimates total mid-term spending will reach $11.9 billion, an increase of nearly 30% from 2022. Federal filings show more than $9.5 billion in spending through mid-October, with PAC and super PAC spending accounting for about $5.5 billion. Most of Musk’s money has gone to key Senate contests. The total final expenditure will become clear once the campaign finance report comes out.