Elon Musk invested 366 million dollars in the U.S. elections, targeting races that could determine Republican control of the Senate

Elon Musk, the world’s richest man, spent approximately $366 million on the U.S. midterm elections, including more than $276 million since July alone. The sums, which are due to be disclosed in a federal filing on Thursday, represent some of the fastest and largest political spending in U.S. history. Musk is focusing particularly on electoral races that could determine which party controls the Senate.

The largest contribution was $158 million to the Senate Leadership Fund, a Super PAC intended to support Republicans. Musk also donated $76 million to his own committee, America PAC, $20 million to the Congressional Leadership Fund and $10 million to the Republican Governors Association. Another $10 million was directed to the campaign of Republican Ken Paxton, a candidate for the Senate in Texas. In January, Musk funded Nate Morris’s candidacy with the same amount; Morris later withdrew.

The money is being used, among other things, for advertisements featuring anti-transgender messages and attacks on Democrats, who are accused of promoting radical socialist policies. The spending exceeds Musk’s contributions during the 2024 presidential campaign, when he invested nearly $300 million in Donald Trump’s reelection.

The investments mark a shift from Musk’s statements last year, when he said he would withdraw from large-scale political funding. The contributions nevertheless represent less than 0.04% of his wealth, estimated at nearly $1 trillion.