During the election cycle for the US mid-term elections, Elon Musk allocated about 366 million dollars, mainly to support Republican candidates.
The richest man in the world since the beginning of the election cycle in the USA, it has allocated about 366 million dollars for political activities, mainly for the purpose of support Republicans and preserving their majority in Congress. Since July alone, he has spent at least $276 million.
American billionaire Elon Musk spent about 366 million dollars during the election cycle for the midterm elections in the United States of America, which will be held on November 3. Most of the money is intended to support the Republican Party and its candidates in the race for control of Congress, reports Reuters.
According to data published by the New York Times and confirmed by a spokesman for Musk's political committee America PAC, Musk has allocated at least $276 million to Republican organizations and political actions since July. This made him one of the biggest individual donors in this year's election cycle.
Most of the money went to organizations that support Republican candidates for Congress. The Senate Leadership Fund, a political committee focused on Senate elections, received $158 million, while the Congressional Leadership Fund, which supports House Republicans, received $20 million.
Musk's America PAC received $76 million. That committee is supporting Republican candidates in seven states where the races are expected to be uncertain, as well as in nearly 30 races for the House of Representatives.
Another $10 million each was allocated to the Republican Governors Association and Lone Star Liberty PAC, which supports Texas Attorney General Ken Paxton's Senate bid. The Republican Association of State Attorneys received two million dollars.
Musk also gave money through organizations that are not required to disclose the identity of their donors, according to the New York Times. Therefore, the total volume of his political funding may be greater than the amount that can be directly monitored through publicly available data.
Musk's funding comes at a time when Republicans are trying to hold on to majorities in both the Senate and the House of Representatives. Democrats are hoping to capitalize on voters' dissatisfaction with President Donald Trump's administration and the rising cost of living in the election.
Musk previously announced his retirement from politics. In May of last year, he said he had "done enough" and was not planning any major new investments in political campaigns. However, this year's expenditures show that he continued to financially support Republicans.
His political involvement also raises issues of a possible conflict of interest. House Democrats are seeking investigations into government contracts with SpaceX, of which Musk is CEO, as well as his work heading the Department of Government Efficiency in the Trump administration.
During the previous election cycle, ahead of the 2024 presidential election, Musk spent about $290 million, mostly supporting Trump and the Republicans.
This year's midterm elections will be held on Nov. 3 and will decide who controls both houses of Congress, along with a number of important federal and local races.
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