Elon Musk has given about $446 million to political groups in the 2025-26 election cycle. That’s the count in a Washington Post analysis of federal filings. Almost all of Musk’s midterm donations went to super PACs working to keep Republicans in control of Congress.
That beats the previous high for one donor in a federal cycle since at least 2010, which Musk set himself with more than $290 million in 2024. The record claim holds only if you set aside candidates who fund their own campaigns.
Where did the $446 million go?
We added up Musk’s gifts in Federal Election Commission records. We got about $444 million, within $2 million of the Post’s figure. The gap comes down to how each count treats in-kind items such as voter data and petition costs.
Three groups took about 93% of the money.
- America PAC, Musk’s own super PAC: about $216 million by the Post’s count, including in-kind support. Its pre-general report shows $74.8 million in cash from Musk between October 6 and October 14 alone.
- Senate Leadership Fund, the main Republican Senate super PAC: $168 million. That includes $75 million on September 9 and $83 million on September 23. The AP called that money one of the largest known political donations in US history.
- Congressional Leadership Fund, the House Republican super PAC: $30 million, including $20 million on September 4.
Smaller checks went to Fight for Kentucky ($10 million) and MAGA Inc. ($5 million). Lone Star Liberty PAC, which backs Ken Paxton in Texas, got $10 million.
Totals moved fast this week. On October 22, CNBC counted about $366 million. The Post’s higher figure the next day adds America PAC’s pre-general report. That report was due on October 22 and covers October 1 to 14.
One caveat on the “midterm” label: an FEC cycle starts in January of the odd year. So the total includes 2025 money. America PAC reported about $27 million in in-kind “petition incentives” from Musk in the first half of that year.
Is $446 million really a record?
It depends on what you count. The Post’s 2024 analysis cited OpenSecrets data. It called Musk’s total that year the largest from one donor “since at least 2010, outside of candidates funding their own campaigns,” as published by the Anchorage Daily News. Year-end filings later put his 2024 giving above $290 million, CNN reported.
On that definition, $446 million clears his own mark by more than half. The two caveats in it matter, though.
First, it leaves out self-funders. Michael Bloomberg put about $1.09 billion of his own money into his 2020 presidential campaign, FEC data show. Second, the “since 2010” window matters, because unlimited gifts to super PACs only became legal that year. So “modern record,” as our draft put it, should mean the super PAC era, and say so.
How can one person legally give this much?
An individual can give a candidate only $3,500 per election in 2025-26, according to the FEC. The same page says super PACs “may accept unlimited contributions.”
That changed in March 2010, weeks after the Supreme Court’s Citizens United ruling. In SpeechNow.org v. FEC, a federal appeals court struck down limits on gifts to groups that only spend independently of candidates.
The trade-off is that super PACs can’t coordinate spending with candidates, and they must disclose their donors. That disclosure is why Musk’s totals are public at all.
Super PACs can also pass money between themselves. The Senate Leadership Fund moved Musk’s September money to Texas PAC, an affiliate focused on Texas, Bloomberg News reported.
What is the money paying for?
Most of it pays for ads and door-knocking in a handful of races.
Texas PAC has spent $181 million since September 11 on the Senate race between Paxton and Democrat James Talarico, Bloomberg reported. That race is on our list of the Senate contests that decide the majority.
America PAC runs a turnout operation. It has spent $43.2 million on canvassing since August and $8.8 million on digital ads and texting, according to Bloomberg.
Its biggest single target is Texas, at $33.1 million. It has also spent $9.4 million in Ohio and $8.6 million in Michigan. It is also active in more than 30 competitive House districts. Several are among the House races most likely to decide control.
How does Musk compare with other big donors?
No one else is close. Michael Bloomberg is one of the biggest donors on the Democratic side. He gave about $80 million in September and October, Bloomberg News reported. Big tech and crypto donors are also active, as we covered in our look at crypto money in the midterms.
Republicans hold the overall cash lead. Trump, the Republican Party and its congressional super PACs raised $2.1 billion through September. Their Democratic counterparts raised $1.3 billion, according to Bloomberg.
In 2025, Musk told Bloomberg News he would pull back. “In terms of political spending, I’m going to do a lot less in the future,” he said, in a clip NPR replayed. America PAC spokesperson Andrew Romeo confirmed the earlier $276 million figure to the AP.
Musk’s companies have business before the federal government. SpaceX has won at least $6.78 billion in federal work this year, CNBC reported, citing the research firm FedScout.
When will we see the rest?
The pre-general reports stop at October 14, so anything Musk gave after that isn’t public yet. Super PACs file their post-general reports, covering through November 23, by December 3. That filing will show whether the $446 million grew in the final three weeks before the November 3 election.
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