‘Trillionaire’ Musk Becomes Republicans’ Biggest Donor, Gives 367 Billion Won for Midterms

[Financial News]  

After a period of relative quiet, Elon Musk has moved to expand his influence over this U.S. midterm election. He is not entering the campaign himself, but has donated a large amount of campaign cash to help Republicans retain their majority in Congress.
The Financial Times (FT) reported on the 12th (local time) that Musk, the CEO of Tesla and SpaceX and the world’s richest person, has donated more than $275 million (about 367 billion won) in political contributions for the Republican midterm campaigns. He has become the party’s biggest donor.
A spokesperson for Musk said that Musk, who spent nearly $300 million on Donald Trump’s 2024 presidential campaign, has donated more than $275 million to Republicans over the past several months.
According to sources, Musk donated tens of millions of dollars to America PAC, the political action committee (PAC) he founded, and also gave $158 million to the Senate Leadership Fund this summer. The Senate Leadership Fund is the main PAC supporting Republican Senate candidates.
The Republicans have already received massive political donations and hold a considerable advantage over the Democrats in the battle for campaign cash. As of the end of August, the Democrats had about $600 million in campaign funds, while the Republicans had more than $1.1 billion, including money from Trump’s ‘MAGA Inc.’ They are close to having nearly twice as much as the Democrats.
Musk’s large-scale donations came as Trump’s low approval ratings posed a liability for Republicans in the midterms.
Following the historical pattern of the opposition party winning U.S. midterm elections, the Democrats are expected to defeat the Republicans in the November 3 election and regain a majority in the House. The Senate race is expected to be close.
Andrew Romeo, a spokesperson for Musk’s America PAC, claimed, “If the Democrats take control of Washington and also win key gubernatorial and attorney general races, the United States risks becoming a country of socialists, ‘wokeness’ (WOKE), and no borders.”

[email protected] Song Gyeong-jae Reporter