Elon Musk funded the November 2026 U.S. legislative elections with $366 million

Raluca Ioana Draghici

25 October 2026, 08:12

International

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Elon Musk allocated approximately $366 million to the U.S. legislative elections on November 3, 2026, becoming the largest individual donor of the current election cycle, according to a CNBC analysis based on Federal Election Commission documents.

At least $276 million has been directed since July to Republican organizations and America PAC, the political committee controlled by Musk. The money supports at least 40 electoral contests, as Republicans seek to retain control of Congress. Approximately $189.6 million is earmarked for Republican Ken Paxton’s campaign for the Senate in Texas.

The funding comes amid the major interests of Musk’s companies in Washington. SpaceX had secured federal contracts worth at least $6.78 billion by October 1, including agreements for military communications and threat-detection satellites.

Congress controls the funding and oversight of the Pentagon and NASA, and a Democratic victory could intensify investigations into Musk’s business affairs. Since 2025, SpaceX and Tesla have spent approximately $5.3 million and $3.6 million, respectively, on lobbying.

The November 3 elections will determine control of the House of Representatives and the Senate.

Context: Musk warned Democrats after possible investigations emerged, alongside intensified political support for Republicans

Before the massive allocations in this cycle, Elon Musk issued a public warning to Democrats after information emerged about possible investigations targeting the billionaire and his companies. In a message posted on the X platform, Musk wrote that “Those who take the sword will die by the sword” and said he would try to find out “who is really pulling the strings,” promising to pursue those deemed responsible, not just the “puppets.”

Earlier as well, America PAC — his political organization — reported recent expenditures of more than $800,000 for Republican candidates, while Axios wrote that Musk was preparing a new donation campaign for the November midterm elections, focusing on mobilizing voters through door-to-door activities and online advertising.