Elon Musk commits $366 million to US elections — CNBC
In the United States, entrepreneur Elon Musk has committed to provide about $366 million for the 2026 election cycle, covering at least 40 races. This makes him the largest individual donor to the midterm elections so far, CNBC reports.
Since July, at least $276 million of that amount has gone to Republican groups and Musk's political organization, America PAC, according to CNBC's analysis of US Federal Election Commission data. At the same time, SpaceX, Tesla, and Musk's artificial intelligence business depend on government decisions regarding defense spending, launch licenses, radio-frequency spectrum, autonomous vehicles, electricity, and data centers.
SpaceX federal contracts
According to research firm FedScout, since the beginning of 2026, SpaceX has received $6.78 billion in federal work — almost twice as much as in all of 2024. Since 2008, the volume of the company's federal work has exceeded $30.7 billion. This figure does not include classified contracts and part of state spending on Starlink terminals and internet services.
At the end of May, the US Space Force awarded SpaceX a $2.29 billion contract for a military communications network linked to Golden Dome. Three days later, the company received another $4.16 billion for threat-detection satellites. The US Congress does not award these contracts, but it funds and oversees the Pentagon and NASA, which are key SpaceX customers.
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Political spending in Texas
At least $189.6 million of Musk's political funds are directed toward supporting Republican Senate candidate Ken Paxton through various mechanisms. His Democratic opponent, James Talarico, said that Musk is trying to “buy this Texas Senate seat.”
Musk and his trust have also provided at least $6 million to candidates and political groups at the state level, including Governor Greg Abbott, Lieutenant Governor Dan Patrick, and Texas House Speaker Dustin Burrows. Tesla has its headquarters and largest US auto plant in Austin, while SpaceX operates a launch site in Starbase in southern Texas.
America PAC also supports Republican Senator Susan Collins, who chairs the Senate Appropriations Committee. Since January 2025, SpaceX has spent about $5.3 million on lobbying, while Tesla has spent approximately $3.6 million on lobbying activities in Washington.
