Multi-billionaire Musk plans major US Republican midterm spending push: Report

Washington – Elon Musk, the world’s richest person, is preparing a major spending push to help Republicans retain control of Congress in November’s midterm elections, Axios reported on July 30.

The reported splurge will revive the political operation that made Musk the biggest financial backer of Donald Trump’s stunning return to power in the 2024 presidential election.

The tech multi-billionaire plans to reactivate America PAC, the political organisation that spent more than US$260 million (S$333.6 million) supporting Trump bid, according to people familiar with the effort cited by Axios.

The group is expected to focus on door-to-door canvassing, digital advertising and direct mail aimed at mobilising conservative voters who are less likely to participate in non-presidential elections.

Musk has not specified how much he intends to spend. America PAC did not immediately respond to a request for comment.

The intervention could provide a significant boost to Republicans as Trump’s weak approval ratings, concerns over the economy and opposition to the Iran war threaten the party’s narrow House and Senate majorities.

Republican committees and allied groups already hold a large financial advantage over Democrats, while Trump’s MAGA Inc. organisation has amassed hundreds of millions of dollars.

Musk’s renewed involvement follows a turbulent relationship with Trump.

After briefly serving in the administration as head of the Department of Government Efficiency, Musk fell out publicly with the president over Republican spending legislation and suggested he might create a third party.

He later resumed giving to Republican causes, including multimillion-dollar donations to individual candidates and conservative political groups.

Musk’s campaign activity has also generated legal controversy.

A federal judge ordered him to testify in lawsuits accusing America PAC of misleading voters over its promise to award US$1 million daily to registered voters who signed a political petition before the 2024 election.

The plaintiffs argue the winners were not selected randomly, as Musk had suggested, but chosen because they could serve as effective spokespeople for the group.

A Wisconsin panel also found that similar promised payments during a state Supreme Court campaign may have violated bribery laws.

Musk’s return highlights the increasingly powerful role of ultra-wealthy donors in US elections.

Billionaire families have already contributed hundreds of millions of dollars to the 2026 campaign, with the large majority flowing to Republican candidates and organisations, according to US media analyses of federal election filings.

Democrats also benefit from wealthy donors, including George and Alex Soros, Reid Hoffman and Michael Bloomberg, but Republican-aligned billionaires have so far given far more.

America PAC’s effort will reportedly be led by Musk political adviser Chris Young and coordinated with other Republican groups, allowing them to concentrate more heavily on television advertising. AFP