Musk has spent $366 million to help Republicans retain control of Congress - Reuters

Elon Musk has contributed roughly $366 million toward the 2026 midterm elections, with the spending aimed at supporting Republican candidates in an effort to keep the party in control of Congress.

According to recent reports, $276 million of the total amount has been deployed since July of this year, indicating a significant acceleration of financial activity in the final months leading up to the elections.

The funds are being directed toward political advertising and other campaign-related expenditures intended to bolster Republican prospects in both the House of Representatives and the Senate.

Analysts note that, despite the sizable investment, Democratic prospects of regaining control of the House and Senate have been improving in recent weeks.

The scale of Musk’s contributions underscores the growing involvement of private wealth in U.S. electoral politics as the 2026 midterms approach.