Billionaire Elon Musk spent $366 million backing Republicans — Cyprus Mail

In the United States, billionaire Elon Musk has spent about $366 million on the 2026 midterm elections for Congress, seeking to help the Republican Party retain control of the House of Representatives and the Senate. Since the start of the election cycle on January 1, 2025, he has likely become the largest political donor in this year's races, Cyprus Mail reports, citing campaign finance data.

House Democrats are calling for an investigation into government contracts held by SpaceX, which is led by Musk, as well as his work in the Department of Government Efficiency under U.S. President Donald Trump.

Contributions since July

Musk has donated at least $276 million to Republican groups and his own America PAC super PAC since July. A representative of America PAC confirmed the information about these expenditures.

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Of this amount, $158 million went to the Senate Leadership Fund, a super PAC created to support Republicans in Senate elections and affiliated with Senate Majority Leader John Thune. Another $20 million went to the Congressional Leadership Fund, which supports Republicans in the House of Representatives and is affiliated with Speaker Mike Johnson.

Support for candidates in states

Musk's America PAC received $76 million. Lone Star Liberty PAC, which supports Texas Attorney General Ken Paxton's campaign for the U.S. Senate, and the Republican Governors Association each received another $10 million. Musk gave $2 million to the Republican Attorneys General Association.

America PAC is helping Republican candidates in seven states that are key to the elections, as well as in nearly three dozen House races. According to the publication, Musk also provided funds through organizations that do not disclose the names of donors. In the previous election cycle, he spent approximately $290 million.