Elon Musk quietly becomes biggest known donor in midterm contests as he tries to save Republicans

Arkansas’ own Sen. Tom Cotton, embattled in a reelection race that has him really having to work for it this time, is among the likely beneficiaries of the vast millions that digital overlord Elon Musk is pouring out for increasingly nervous Republicans.

The world’s only trillionaire, Musk has quietly become the biggest known donor in this year’s midterm elections, doling out more than $276 million since July to try to save Republican majorities in Congress.

The numbers, first reported by The New York Times ahead of this week’s federal filing deadline, were confirmed by Andrew Romeo, a spokesperson for Musk’s super PAC.

The money includes $158 million given to the Senate Leadership Fund, the main super PAC supporting Republican Senate candidates, one of the largest known political donations in American history, according to The New York Times.

Cotton is listed among the candidates benefitting from the Senate Leadership Fund’s support. The money from Musk likely won’t go directly into Cotton’s campaign coffers, but could be used to pay for TV ads, mailers and other strategies that don’t come directly from Cotton, but that still help Cotton win, all in support of the Senate Leadership Fund’s mission to protect Republicans’ majority.

The next round of reporting on spending in federal elections is due out soon, and we’ll know more then about how much Cotton’s campaign is having to spend in what few expected to be such a close race with Democratic newcomer Hallie Shoffner. But there’s no question Cotton, already flush with deep-pockets conservative cash, maintains the financial advantage. Shoffner’s campaign acknowledged this week that they’re being outspent by Cotton 65 to one, but noted the race remains close despite Shoffner’s relative penury.

Another $76 million from the trillionaire went to America PAC, a Musk super PAC, which has once again built out a major turnout operation like the one it used to help elect President Donald Trump by knocking on doors in 2024.

Musk also provided $10 million to Lone Star Liberty PAC, a group that supports the Republican nominee for Senate in Texas, Ken Paxton. The race has been a major focus of Musk’s efforts.

It’s a dramatic turnaround since last May, when Musk said he intended to cut back on future political spending. “I think I’ve done enough,” he said at the time.

Despite the cash infusion, Musk has generally kept a lower profile than in 2024, when he appeared on stage next to Trump at rallies, and in the early days of the president’s second term, when he led the Department of Government Efficiency.

He had a falling out with Trump while leaving his government post, but the two have since reconciled. Trump presented Musk with the National Medal of Science last week.

Musk’s net worth has fluctuated around the trillion-dollar line this year based on changes in stock prices, but he topped $1 trillion again last week according to Forbes magazine.

Republican have a gaping financial advantage over their Democratic counterparts — a disparity that has been a rare bright spot for a party that is bracing for major potential losses amid deep voter frustration over the president’s performance, stubbornly high prices and the unpopular war with Iran.

They have been using the money to blanket the airwaves in the race’s final stretch.

“These robust investments have allowed the G.O.P. apparatus to get its message out so Republicans can have a fighting chance to defy history,” Romeo told the Times.

Democrats responded to the news by accusing Republicans of using vast amounts of cash to mask their shortcomings.

“Republicans are hoping to buy these elections, injecting tens of millions into races to try and outrun their unpopular candidates, unpopular president, and unpopular economy,” said Lauren French, a spokesperson for Democrats’ Senate Majority PAC.