Musk Resumes Support for Republicans, Pledges to Spend Over $100 Million on Midterm Elections

[Financial News, New York = Reporter Lee Byung-chul] Elon Musk, CEO of Tesla, is ending his break with the Republican Party and returning to support it after last year’s split and even talk of forming a third party. Ahead of the U.S. midterm election in November, he plans to spend as much as $120 million to back Republican candidates for the House and Senate.
The New York Times reported on the 30th, citing multiple sources, that Musk has decided to launch large-scale field campaigning in at least eight states through America PAC, the political action committee he supports. The spending is expected to range from $100 million to $120 million, with full-scale execution set to begin next month.
Musk’s team has initially identified key Senate battlegrounds such as Alaska, Iowa, Maine, Michigan and Ohio as priority targets. North Carolina, Georgia and Texas are also under review for possible support. For the House, funds are expected to go to competitive districts in California, Wisconsin and Washington State.
America PAC declined to confirm details on the budget or target areas, but said it would "actively operate in major battleground districts for both the House and Senate."
If the funding materializes, Republicans are expected to widen their fundraising advantage over the U.S. Democratic Party through super PACs and party organizations. Although Democratic candidates have raised more money than Republican rivals in some Senate races, there is growing concern that the party as a whole could fall far behind in midterm election funding.
Meanwhile, Musk emerged as the biggest political donor in the 2024 presidential election after contributing about $300 million. However, after the Republican candidate he strongly backed lost the 2025 Wisconsin Supreme Court election, he said he would scale back political activity. In a Bloomberg interview last year, he said, "I will spend much less on political donations going forward. I think I have done enough."
He later clashed with President Trump, stepped down from his role as head of the Department of Government Efficiency (DOGE), and publicly criticized Trump’s key policies and the Republican Party. At the time, he even raised the possibility of creating a third party called the America Party, appearing to distance himself from Republicans.
However, he ultimately did not move ahead with launching a new party. Instead, he reportedly repaired ties with Trump starting last fall and began preparing a renewed plan to support Republicans.



[email protected] Reporter Lee Byung-chul Reporter