Elon Musk commits $276 million to boost Republicans

Elon Musk has invested at least $276 million in the midterm elections since the northern summer, becoming the largest known donor to the Republican Party, CNN reported. The figure was confirmed by a spokesperson for America PAC, the billionaire's main political committee, ahead of filings with the Federal Election Commission.

The outlay aims to influence the balance of power in the US Congress, with particular focus on legislative races. A large share of these resources, a total of $158 million, went to the Senate Leadership Fund, the main independent Republican campaign committee for the Senate, according to the network.

The financial backing is concentrated in strategic states such as Texas, where the party seeks to hold on to a key seat against Democratic competition. To defend that position, the leadership committee has invested more than $100 million in the state, a territory crucial to Musk's business interests and corporate infrastructure.

The current support adds to the leading role the magnate played in the previous electoral cycle, when he devoted nearly $300 million to backing Donald Trump's 2024 presidential campaign. That political closeness later translated into his temporary collaboration with the federal administration to lead a plan to cut public spending.

After having said last year that he intended to scale back his political contributions and distance himself from certain legislative initiatives of the ruling party, the recent injection of funds is reviving scrutiny from the Democratic opposition over the financial weight of large fortunes in the country's electoral processes.