The US midterm elections are just days away, and details of funds raised shows Elon Musk emerging as a mega donor. More than $16 billion has been raised for far for the 2026 election cycle, according to Federal Election Commission data. Musk, the world’s richest person, is the largest contributor of that pie, quietly pumping in $445 million, according to Bloomberg data. Since July, Musk has pumped in $355 million – or $3.6 million a day – as he tries to save Republican majorities in the House of Representatives and Senate. The money has come through political action committees (PACs).
Bloomberg reported that till October 14, the Republican Party had raised $2.1 billion.
Musk’s staggering amount dwarfs spending by George Soros and Michael Bloomberg, who are funneling the money towards the political Left, as per CNN.
Musk’s spending is a big talking point on X, the platform he owns. A user posted a screenshot of the cumulative contribution to US election campaigns that shows Musk has spent $759 million against Soros’ $624 million with the caption, “Elon is using his money to save America and Western Civilization.”
Musk said in his reponse, “I’m trying.”
@C_3C_3 I’m trying
— Elon Musk (@elonmusk) October 26, 2026
“All year long, we’ve seen individual Democratic candidates for the House and Senate outperform their GOP rivals. But the big money began arriving this fall to help Republicans. And, boy, has it ever,” CNN’s national political writer Fredreka Schouten said while commenting on the growing chasm between the spending by political Left and Right.
Giving a break-up of Musk’s spending, the New York Times said he gave a total of $158 million to the Senate Leadership Fund, the main super PAC backing the party’s candidates for the chamber, in a bid to save Republicans’ Senate majority. America PAC, another super political action committee formed by Musk in 2024, received $74 million from him. A super PAC can raise and spend unlimited amounts of money from corporations, unions, and individuals, provided they spend independently and do not coordinate directly with candidate campaigns.
The group is active in seven Senate battlegrounds and nearly three dozen House races, as per the NYT report.
During the 2024-25 election cycle, Musk pumped in $366 million, and in 2024, he spent $290 million to help return Donald Trump to power.
The staggering sum is expected to give an edge to Republicans, as per some US news outlets, but things will be clear when the results of the midterms are announced.
All 435 seats of the US House of Representatives and 35 Senate seats will go to polls on November 3.
