Elon Musk has become the largest individual donor in U.S. election history after contributing $474 million to the Republican Party ahead of the midterm elections scheduled for November 3, 2026. The sum sets a record for a donor who is not running for public office, according to international media reports.
According to The New York Times, the actual value of Musk’s contributions could be even higher.
The tycoon is also believed to have made donations that are difficult to trace, and the available federal records cover only the period through October 14. He may therefore have increased his financial support for Republicans in recent weeks.
The billionaire’s massive donations have drawn the attention of Democrats, Agerpres reports. Several lawmakers have announced plans to launch investigations into Musk’s activities if their party regains control of either chamber of Congress in the election.
The investigations are expected to examine how Musk ran the now-defunct Department of Government Efficiency, his companies’ contracts with the federal government, and his role in the war between Russia and Ukraine.
The 2026 midterm elections also set a new record for political advertising spending. According to AdImpact, spending on advertising campaigns surpassed the level recorded during the 2024 presidential election cycle.
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