In September, American billionaire Elon Musk donated $158 million to a political committee that supports Republican Party candidates in U.S. Senate elections. As a result, he became the country’s largest political donor for the second election cycle in a row. Bloomberg reports this, citing Federal Election Commission documents, UNN writes.<\/p>\n
Details<\/p>\n
Overall, in the current election cycle, Musk has already allocated more than $330 million to political campaigns, including $89 million to his own America PAC committee. In terms of donation volume, he surpassed other major American donors, including George Soros.<\/p>\n
According to Bloomberg, most of the new funds were likely directed toward the Senate election in Texas, where Republican Ken Paxton is competing against Democrat James Talarico. America PAC alone spent $22.7 million supporting Paxton and campaigning against his opponent.<\/p>\n
Why the election matters to Musk<\/p>\n
The billionaire’s companies, including Tesla, SpaceX, Neuralink, and The Boring Company, depend on decisions by federal regulators. In addition, if Democrats win the House of Representatives elections, his activities at DOGE could come under increased scrutiny.<\/p>\n
Musk’s political committee is also spending tens of millions of dollars supporting Republicans in other states, including Ohio, Michigan, and Iowa.<\/p>\n
According to the Bloomberg Billionaires Index, Elon Musk’s fortune currently stands at $920.6 billion.<\/p>\n