Elon Musk has become the biggest individual donor in the 2026 US midterm election cycle. The billionaire has directed huge sums toward Republican candidates and political groups. His spending comes as campaign costs reach a record level. Much of his support has gone to closely watched Senate races, including Texas.
Elon Musk tops individual donors as 2026 US midterm spending approaches record levels
BBC Verify reports that Musk has spent almost $500 million backing Republican causes during this election cycle. A majority of the funds went to America Pac, the Super Pacs he founded in 2024, and the Republican-leaning Senate Leadership Fund. Super Pacs can accept unlimited donations from individuals, companies, labor unions and political committees. They are not allowed to contribute any funds directly to candidates, and may spend independently to favor or oppose candidates.
Musk’s spending has focused heavily on Texas, where Republican Ken Paxton faces Democrat James Talarico in a Senate race. America PAC has put more than $45 million into the contest, according to figures reviewed by BBC Verify. The group has also invested about $10 million in each of the Senate races in Michigan and Ohio. Those contests have drawn major spending as both parties fight for control of the Senate.
Musk is not the only wealthy donor funding the election. The Brennan Center for Justice says the 40 biggest donors gave $2.4 billion by October 14, a record for that point in a midterm cycle. Groups linked to George Soros gave $102 million to liberal organizations, while Michael Bloomberg gave more than $60 million to Democrats. Republican donors Jeff Yass and Richard and Elizabeth Uihlein each gave over $100 million to Republican causes.
OpenSecrets projects total midterm spending will reach $11.9 billion, about 30% above 2022. Federal filings showed more than $9.5 billion spent by mid-October, with PACs and Super PACs accounting for about $5.5 billion. Much of Musk’s money has gone to key Senate contests. The final spending total will become clear after campaign finance reports arrive.
