Elon Musk, the trillionaire technology executive known for backing far-right causes, has reportedly channelled $366m since last year into supporting the Republican Party in the United States midterm elections. Reporting that emerged on Monday put the figure at $276m since July alone. That total includes $158m directed to a super PAC focused on Republican Senate candidates, which makes Musk the largest individual donor of the year so far.
Musk’s political action committee, America PAC, has confirmed the totals. A spokesperson described the sum as a record and said it was needed to keep Congress out of Democratic hands during the midterm races. Musk is a close ally of President Donald Trump, who leads the Republican Party, and held a special advisory position at the White House last year.
Republicans face headwinds as Democrats eye Congress
The spending arrives as Republican candidates struggle to overcome Trump’s low popularity and growing anxiety among American voters about the cost of living. Democrats are looking to exploit public discontent with Trump’s time in office in order to take control of Congress. Republicans currently hold majorities in both the House of Representatives and the Senate.
Voters will go to the polls on November 3. The midterms will decide key state and local races, along with which party controls Congress. Republicans are widely viewed as holding a substantial financial edge going into the contest, largely because of heavy spending by groups such as MAGA Inc, a pro-Trump super PAC named after the “Make America Great Again” movement.
As of August, MAGA Inc reportedly had $416m in its accounts. The tracking service AdImpact found that the group had spent $22m in the previous month alone on the closely fought race for the open Senate seat in Texas. Trump has also ramped up his own campaigning, holding a string of rallies in the final weeks before the vote to promote the party’s message.
Criticism of wealthy donors and Musk’s wider reach
The influence that wealthy donors and PACs wield over American politics has long attracted criticism. Opponents argue that this kind of spending bends US politics toward powerful interests. Democrats, however, appear confident that the Republican funding advantage will not be enough to offset voter frustration with Trump.
Lauren French, a spokesperson for the Democrat-aligned Senate Majority PAC, said Republicans were hoping to buy the elections. In her view, the party was pouring tens of millions of dollars into races in an effort to outrun candidates, a president and an economy that she described as unpopular.
Musk became the world’s first trillionaire in June, when his aerospace company SpaceX made its initial public offering on the Nasdaq stock exchange. In May, he had said he planned to step back from involvement in US politics, stating that he had “done enough” and had no plans for large spending efforts. Even so, he has used his tech holdings and wealth to support right-wing groups around the world.
Last year, politicians in Germany accused Musk of trying to meddle in the national election. He has been a vocal backer of the Alternative for Germany party, which has been accused of taking a discriminatory stance on immigration and other issues.
