Total midterm spending reached $11.9 billion as Elon Musk contributed about $474 million through political action committees and outside spending organizations, making him the biggest individual donor in the 2026 US midterm elections.
Federal filings showed that more than $9.5 billion had already been spent by mid-October. PACs and Super PACs accounted for about $5.5 billion of that total. BBC Verify reported that Musk directed almost $500 million toward Republican causes, with a majority of the funds flowing to America PAC—the super PAC he founded in 2024—and the Republican-leaning Senate Leadership Fund. Total midterm spending across the country was projected by OpenSecrets to reach $11.9 billion, marking an increase of about 30 percent above 2022 levels.
Musk and Major Donors Pour Billions Into Senate Contests
America PAC deployed more than $45 million into the Texas contest, while also investing about $10 million in each of the Senate races in Michigan and Ohio as both political parties fought for control of the chamber. Republican Ken Paxton faced Democrat James Talarico in a Senate race. Much of Musk’s financial backing targeted closely watched Senate contests, particularly in Texas.
By October 14, the Brennan Center for Justice found that the top 40 contributors had handed out $2.4 billion, establishing a new high-water mark for that phase of a midterm cycle. Other wealthy donors also contributed large sums to the cycle. Groups linked to George Soros directed $102 million to liberal organizations, Michael Bloomberg gave more than $60 million to Democrats, and Republican donors Jeff Yass and Richard and Elizabeth Uihlein each contributed over $100 million to Republican causes.
Demonstrators Gather Outside an Austin Compound After Candidate Defeats
Demonstrators arrived in cars and two blue party buses, holding a street celebration complete with music, refreshments, inflatable costumes, and piñatas shaped like a star and a Tesla Cybertruck. Following the election, about 60 people gathered on Saturday outside a West Lake Hills compound affiliated with Musk to celebrate that the money Musk spent ahead of the midterm election went mostly to candidates who lost, including Paxton, who lost his bid for the U.S. Senate seat to Talarico.
Organizers from VOCAL-TX, Popular Democracy, and People’s Action led the gathering. Responding officers with the Austin Police Department received a tip about alcohol consumption taking place at the gathering, though they noted seeing no proof of it upon arrival. Eli Cortez, a 28-year-old bus captain for VOCAL-TX, wore a red party hat and described the mood as celebratory while participants chanted to music from a wheeled speaker.
We’re here celebrating Texans showing up en masse against MAGA’s agenda, up against billionaires’ interest in elections and celebrating real democracy.
Eli Cortez, Bus captain for VOCAL-TX
Musk Reacts on X Following Election Losses
The billionaire also used his ownership of the X platform to direct criticism at Talarico and urge voters to back Republican Senate candidates during the midterms. Throughout the cycle, about $212 million of Musk’s total spending went toward supporting Paxton. Following the election results, Musk posted on X regarding the outcome.
Guess my election-interfering space lasers didn’t work this time,
Elon Musk
Stephanie Frizzell, 51, who traveled from Dallas for the demonstration wearing a shirt referencing political figures, emphasized the ongoing political work ahead for her coalition. He followed that post with an image stating, Sorry! We are experiencing technical difficulties.
Attendees at the Austin street party expressed frustrations with corporate influence in politics.
We need to organize and come together,
Eli Cortez, Bus captain for VOCAL-TX