Musk spent $276 mln to boost Republicans in midterms: US media

WASHINGTON

Elon Musk arrives to speak at an indoor Presidential Inauguration parade event in Washington, Jan. 20, 2025. (AP File Photo)

Tech billionaire Elon Musk, the world’s richest man, has contributed $276 million to organizations boosting the campaigns of right-wing American candidates ahead of upcoming midterm elections, U.S. media has reported.

The sum, all contributed since July, positions Musk as the largest single donor for the Nov. 3 elections, according to the New York Times. He has spent a total of $366 million this election cycle.

The largest funding recipient was the Republican’s Senate Leadership Fund, receiving $158 million, aimed at maintaining the party’s control of the upper house of Congress despite a slim margin.

Musk is no stranger to massive U.S. election spending, having contributed $290 million in 2024 to help U.S. President Donald Trump win reelection.

Though individual campaign donations in the United States are capped at $3,300 per person, loopholes in the U.S. campaign finance system allow political mega donors to contribute to funds known as political action committees or “PACs,” which support candidates.

Musk donated $76 million this summer to his own America PAC, the New York Times reported.

Other recipients of Musk’s political funding include $20 million to the Republican’s Congressional Leadership Fund, $10 million each to the Republican Governors Association and the Lone Star Liberty PAC, and $2 million to the Republican Attorneys General Association.