Musk to spend up to $200 million to boost Republicans in midterms

Elon Musk is expected to spend between $100 million and $200 million to help Republicans in the US midterm elections this November, Wired reports, citing Trump administration officials.

The outlet said the exact figure could change, but officials expect Musk’s spending to focus largely on voter turnout efforts in key races, including Texas, where the contest involving Republican nominee Ken Paxton could play a role in determining control of the US Senate.

Such a major financial injection, including potential in-kind contributions aimed at increasing voter turnout, would provide a significant boost to Paxton, who has been heavily outraised by his Democratic opponent. The latest Federal Election Commission filings show James Talarico has raised roughly $69 million, compared with about $9 million for Paxton.

Paxton secured the Republican nomination with Trump’s endorsement after defeating Senator John Cornyn in a contentious primary campaign that brought renewed attention to past scandals. However, his fundraising has remained far behind that of Talarico since becoming the nominee.

Neither of the two largest national Republican groups has so far committed to spending money on Paxton’s behalf. The Senate Leadership Fund is backed by allies of Senate Majority Leader John Thune, who supported Cornyn, while MAGA Inc. has yet to announce its spending plans.

Paxton is not alone in facing a fundraising disadvantage. Democratic candidates in competitive races have generally raised more than their Republican opponents this election cycle, leaving many GOP candidates dependent on national party organisations and outside groups to close the financial gap.

Musk’s anticipated spending would come on top of the Republican National Committee’s $128 million in available funds. The Democratic National Committee, by contrast, is carrying about $2 million in debt.

America PAC, a political action committee backed by entrepreneur Elon Musk, spent more than $260 million during Donald Trump’s 2024 election campaign.

The US midterm elections will be held on November 3, 2026. All 435 seats in the House of Representatives and one-third of the Senate, or 33 seats, will be up for election. Republicans currently control both chambers of Congress.

By Bakhtiyar Abbasov