Billionaire Elon Musk has made a significant political maneuver by donating $10 million to two super PACs focused on aiding Republicans in maintaining their congressional majorities in the upcoming midterm elections. According to recent campaign finance disclosures, Musk contributed $5 million each to the Senate Leadership Fund and the Congressional Leadership Fund on June 27, a period marked by his contentious disputes with former President Donald Trump regarding federal spending legislation.
This financial commitment comes just days prior to Musk revealing his intention to establish his own political party, the America Party. His recent donations highlight his considerable impact on U.S. politics and raise intriguing questions about his future role in electoral matters.
As it stands, Musk is the largest individual donor to both of these congressional super PACs. Furthermore, reports to the Federal Election Commission indicate that he has invested over $45 million this year into America PAC, the super PAC he manages, in an attempt to influence the results of a Wisconsin Supreme Court race, though those efforts did not yield the desired outcome.
In the lead-up to the 2024 election, Musk allocated more than $290 million supporting Trump and other preferred congressional candidates. During this time, he also took on the role of a senior advisor in the White House and led the government efficiency initiative before shifting focus back to his companies.
Initially, Musk suggested he might scale back his political financial contributions. However, by early July, he found himself embroiled in further disagreements with Trump and congressional Republicans, criticizing domestic policies that he claimed could lead to an explosion of the federal deficit. Although he announced plans to form the America Party, little progress has been observed since then.
The recent FEC disclosures cover his super PAC activities only through the end of June. CNN’s Alex Leeds Matthews and David Adkins contributed to this report.
