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Elon Musk donates $276M to GOP groups, becoming top 2026 midterm donor.

Market News
12 Oct 2026
CNBC
View Source
Neutral
Elon Musk donates $276M to GOP groups, becoming top 2026 midterm donor.

Elon Musk has donated over $276 million to Republican groups since July, making him the largest known donor for the 2026 midterm elections. His biggest contribution of $158 million went to the Senate Leadership Fund, which supports Republican Senate candidates. Musk's total federal political donations for the 2025-26 cycle have reached about $366 million, surpassing his 2024 election spending. This significant political funding comes as Republicans aim to maintain control in Congress this November, with Musk also supporting key races in Texas and other states. Despite previously stating he would reduce political spending, Musk has increased his involvement, partly due to his business ties and renewed relationship with former President Trump.

Elon Musk's $276 million donation to Republican groups marks a significant political contribution ahead of the 2026 midterm elections. For readers following the Technology sector, here is Pluang's market snapshot as of Oct 13, 2026 04:01 WIB: out of 150 priced Technology-sector US stocks tradable on Pluang, 43 rose and 106 fell today. Notable movers include AXTI at USD 62.30 with a 9.00% decline and a typical hold time of 17 days, IONQ at USD 36.46 down 8.60% with 99% buy order activity, and VERI at USD 0.61 up 7.54% with 91% buy order activity.

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