Elon Musk has committed roughly $366 million to the 2026 election cycle across at least 40 races. That makes him the biggest individual donor of the midterms so far, according to CNBC 1. The election is Tuesday, Nov. 3.
At least $276 million of that has gone to Republican groups and to Musk's own political operation, America PAC, since July, according to CNBC's analysis of Federal Election Commission filings 1. A PAC is a political action committee, a group that raises and spends money to influence elections.
The biggest bet is in Texas
At least $189.6 million of Musk's political money is aimed at electing Republican Ken Paxton to the Senate in Texas, CNBC reports 1. Paxton faces Democrat James Talarico. Reuters reported in September that Talarico has narrowly led public polls since mid-April 2.
Talarico has accused Musk of trying to "buy this Senate seat in Texas." He also answered Musk directly, as the quote below shows 1.
From Channel GOPTalarico: Elon Musk is trying to buy Texas Senate seatJames Talarico · 124 plays · captioned, with the source named
There is something deeply wrong with a political system that allows one trillionaire to buy his own personal U.S. Senator
Musk also spends in other Senate races. America PAC is backing Sen. Susan Collins, R-Maine, who chairs the Senate Appropriations Committee, which helps write funding bills for NASA and the Pentagon 1. Her Democratic opponent, Troy Jackson, has accused Musk of trying to "buy a government that serves his interests" 1.
Through Oct. 20, America PAC had spent about $22.7 million on general election expenditures in six other battleground states. That includes roughly $8.9 million in Ohio, $7.2 million in Michigan and $2 million in Maine 1.
What Musk's companies have at stake
SpaceX has won at least $6.78 billion in federal work so far in 2026, through Oct. 1, according to the research firm FedScout. That is nearly double its total for all of 2024 1. Congress does not award the contracts, but it funds and oversees agencies that do, including the Defense Department and NASA 1.
Democratic control of either chamber could bring subpoenas and investigations into Musk's businesses, his federal contracts and his work leading the Department of Government Efficiency, CNBC reports 1. Democrats are favored to win the House, and the Senate fight is a toss-up 1.
Musk did not respond to CNBC's request for comment. In a Wednesday post on X, he wrote: "Live by the sword, die by the sword." 1
Bruce Freed, a former Senate banking committee investigator who now heads the nonpartisan Center for Political Accountability, offered his view of the spending. He said Musk "wants favors in Congress and from the administration and influence on regulatory contracts as well as being shielded from oversight" 1.
What happens next
Voters decide on Nov. 3. Reuters noted in September that several of Musk's early beneficiaries sit on committees that oversee government contracts and projects relevant to his companies 2.
That matters because the people who write spending bills may receive support from one donor with billions in government business. Musk gained wide access after spending nearly $300 million in 2024, then fell out with Trump in June 2025 and is now back in the president's circle 1.
The Record
- A June 2025 feud with Trump over his tax-and-spending bill led the president to threaten to cut government support and contracts for Musk's companies. 1
- Reuters reported that America PAC had spent more than $800,000 in its first 2026 filing, with $247,595 going to help Ken Paxton. 2
- CNBC reported Musk had committed roughly $366 million across at least 40 races. 1
Sources
- CNBC, “SpaceX and Tesla have high election stakes as Elon Musk pours $366 million into campaigns” (2026-10-22). cnbc.com/2026/10/22/elon-musk-midterm-election-spacex-tesla.
- Reuters (via The Star), “Musk super PAC wades into US midterms with $800,000 for Republicans in close races” (2026-09-04). thestar.com.my/news/world/2026/09/04/musk-super-pac-wades-in
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