Elon Musk spends $366 million to bolster Republican Party ahead of US midterms

Tech billionaire Elon Musk has spent $366 million to support the Republican Party ahead of the upcoming US midterm elections, according to reports on campaign finance activity.

The substantial outlay comes at a time when Republicans are working to counter signs of slipping popularity for President Donald Trump, alongside persistent public concern over the cost of living, both of which are seen as potential headwinds for the party heading into the midterms.

Musk, who has emerged as one of the most prominent political donors in recent election cycles, has previously used his financial resources to support Republican candidates and causes, reflecting a broader trend of wealthy individuals playing an increasingly visible role in shaping US campaign financing.

The scale of the spending underscores the growing importance of large individual donors in American politics, particularly as campaign costs continue to rise across competitive House, Senate and state-level races.

Details about exactly how the funds have been allocated, including which specific candidates, committees or political action groups have received support, have not been fully disclosed in available reporting.

Midterm elections are often viewed as a referendum on the sitting president's performance, and Republican strategists have acknowledged that economic concerns among voters could pose a challenge to the party's efforts to maintain or expand its standing in Congress.

Musk's continued financial involvement in Republican politics is likely to draw scrutiny from campaign finance watchdogs and political opponents alike as the midterm campaign season intensifies.