Elon Musk spends $366m to bolster Republican Party in US midterm elections
Summary
Elon Musk has spent $366 million since last year to support the Republican Party in the U.S. midterm elections, including $158 million for a super PAC focused on Senate candidates. This makes him the largest single donor this year, as Republicans aim to maintain control of Congress in the November 3 election.Key Facts
- Elon Musk has spent $366 million to support Republicans in the 2024 midterm elections.
- $276 million of this spending has occurred since July 2024.
- $158 million went to a super PAC focused on Republican Senate candidates.
- Musk is considered an ally of President Donald Trump and advised the White House last year.
- The Republican Party currently controls both the House and Senate.
- Democrats hope to gain control by using voter dissatisfaction with President Trump and economic concerns.
- Musk became the world’s first trillionaire in June 2024 after SpaceX’s public stock offering.
- Political action committees (PACs) like Musk’s America PAC and Trump’s MAGA Inc are spending heavily to influence election outcomes.
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