CNN: Musk emerges as the largest individual donor to the 2026 elections with disclosed contributions
American entrepreneur Elon Musk has become the largest disclosed individual donor to the 2026 US Congressional election campaign, CNN reports.
CNN: Musk has become the largest private donor to the 2026 elections among those whose contributions have been disclosed
As specified, by mid-October his political contributions exceeded $400 million. In Senate races, Republicans are leading in terms of fundraising volume, the publication noted.
According to media reports, Musk is funding campaigns aimed at maintaining the Republican majority in the House of Representatives and the Senate; in the 2024 elections, he spent about $290 million supporting Donald Trump and Republicans. In September, Musk sent $158 million in two transfers to the Senate Leadership Fund committee, which supports Republican Senate candidates. CNN writes that this money apparently went immediately to the Texas PAC organization, which supports Republican Ken Paxton in his fight against Democrat James Talarico for a Senate seat from Texas. The Senate Leadership Fund raised over $540 million for the cycle, while the Democratic Senate Majority PAC raised $354 million.
George Soros and Michael Bloomberg are named among major Democratic donors. Entities led by Soros's son Alex sent more than $100 million to the Democracy PAC and Democracy PAC II committees; Bloomberg announced an additional $80 million to support Democrats. Republican campaigns are also funded by the Trump-aligned MAGA Inc.: the president stated that his political organizations intend to spend $400 million before Election Day. The committee also supports two new super PACs — No Going Back PAC and Safety & Affordability PAC. In September, MAGA Inc. raised $24 million; Steve Wynn contributed $8 million, Stephen Schwarzman and Diane Hendricks contributed $5 million each, and another $1 million was contributed by GEO Reentry Services, a subsidiary of a private prison company with federal contracts to manage ICE facilities.
CNN notes: earlier, after disagreements with Trump, Musk spoke of his intention to move away from the Republicans and create his own party, but recent donations show that he still supports Republican campaigns.