Elon Musk, CEO of Tesla and a major donor to Donald Trump during the 2024 U.S. presidential election, is reportedly planning to make significant contributions to Republican candidates in the upcoming midterm elections this November.
According to a report by The New York Times on July 30, citing two sources, Musk has approved a spending plan of $100 million to $120 million for his political action committee, America PAC, in preparation for the midterms.
One source indicated that the program is set to launch next month, and America PAC officials have recently communicated a "nine-figure budget plan" to Republican representatives. While the exact amount Musk will contribute may vary, his commitment to supporting Republican candidates remains strong, the Times reported.
The program aims to support Republican candidates in at least eight states, initially including Senate candidates in Alaska, Iowa, Maine, Michigan, and Ohio. Discussions are also ongoing regarding support for candidates in North Carolina, Georgia, and Texas, as well as House candidates in California, Wisconsin, and Washington, according to the two sources.
Musk's substantial financial backing for the Republican Party is expected to widen the funding gap between Republicans and Democrats ahead of the midterms, the Times noted.
On the previous day, the U.S. news channel MS NOW reported that the Republican Party plans to spend a total of $1 billion leading up to the midterms, while the Democrats' spending is projected to be less than half that amount, at around $440 million.
During the 2024 presidential election, Musk emerged as Trump's largest donor, contributing over $260 million. Following Trump's second administration's inauguration, Musk took on a significant role as head of the Department of Government Efficiency (DOGE). However, he stepped down from this position last year amid conflicts with Trump over tax cuts and hinted at the possibility of forming a third party. Despite this, Musk and Trump have since met again, indicating efforts to mend their relationship.
* This article has been translated by AI.
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