The trillionaire is making history with his intervention in the midterms.
Elon Musk is pouring record-breaking amounts of money into trying to save Republicans from a midterm wipeout.
The Tesla mogul, 55, has thrown an astonishing $366 million at groups backing GOP candidates ahead of the Nov. 3 elections for control of the House and Senate, the New York Times reports.
That’s roughly $76 million more than the $290 million the world’s richest man is known to have invested to help get the president, 80, elected in 2024.
SpaceX AI Founder and CEO Elon Musk speaks to the media as Trump listens on the White House driveway after a meeting with tech leaders last month.
Sources familiar with Musk’s fundraising told the newspaper, which describes his donations as some of the largest in U.S. history, that he’s given even more in undisclosed donations over the past two election cycles.
Recipients include the Senate Leadership Fund, Congressional Leadership Fund, his own America PAC, the Republican Governors Association, and the Republican Attorneys General Association, along with the Lone Star Liberty PAC, which supports embattled Texas GOP Senate nominee Ken Paxton.
Get the best of The Beast delivered right to your inbox
“If Democrats take control of Washington and win key gubernatorial and attorney general races this November, then America risks becoming a socialist, woke, and borderless country,” Andrew Romeo, a spokesperson for Musk’s America PAC, said.
“These robust investments have allowed the GOP apparatus to get its message out so Republicans can have a fighting chance to defy history,” he added.
Musk at the Conservative Political Action Conference in February 2025—Argentine President Javier Milei gifted Musk the chainsaw while Musk led President Trump’s “Department of Government Efficiency” to cut government budgets.
SAUL LOEB/AFP via Getty Images
Those comments refer to pre-midterm polling showing Democrats leading by up to 9 points on the generic congressional ballot, with previously safe Republican seats in deep-red states like Texas, Kansas, and South Carolina turning genuinely competitive.
Democrats’ momentum owes largely to Trump’s abysmal approval ratings, driven by his disastrous war of choice with Iran and widespread unaffordability, which he has dismissed as a “hoax.”
Musk’s relationship with Trump has proven rocky since the president retook the White House last year. Their bromance peaked when Musk became the public face of Trump’s Department of Government Efficiency, leading a chaotic crusade to slash federal spending.
Things imploded after Musk left the administration in May 2025, branding the president’s signature “Big, Beautiful” spending package a “disgusting abomination” that threatened to undo all of his work under the supposed cost-saving initiative.
The pair then exchanged in a bitter series of tit-for-tat posts that saw Trump threaten to revoke the Tesla CEO’s lucrative government contracts, and Musk accuse the president of trying to cover up his ties to late sex trafficker Jeffrey Epstein.
But their messy divorce did not last. Musk returned to the fold not long after the shock killing of conservative activist Charlie Kirk in September 2025.
He has since attended Trump’s White House dinner for Saudi Arabia’s de facto ruler and even secured a seat at the president’s table during last month’s state banquet for Chinese President Xi Jinping.
The Daily Beast has contacted Musk’s representatives, the White House, and the Republican National Committee for comment on this story.
Register below to read this article for free or subscribe
to unlock unlimited access to The Daily Beast.
Best Value
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Already have an account? Sign In
Looks like you already have a subscription!
You’re all set!
Thanks for subscribing.
Subscription$0.00
Total$0.00
