Elon Musk has poured more than $276 million into Republican groups and his super PAC since July, making him the largest known donor in the 2026 midterm elections, according to a report published on Monday.

Musk Leads Political Spending Yet Again

The world's wealthiest person contributed $158 million this summer to the Senate Leadership Fund, the main super PAC supporting Republican Senate candidates, The New York Times reported, citing Musk's own representatives.

He also reportedly funneled more than $76 million to America PAC, the super PAC he established in 2024 to support President Donald Trump's campaign.

Musk's latest contributions bring his known federal political giving during the 2025-26 cycle to approximately $366 million, the report mentioned.

That figure has surpassed the roughly $290 million Musk spent in the 2024 presidential election, according to Open Secrets.

Will the Heavy Spending Go in Vain?

Musk was the largest donor of the 2024 election cycle. He later stepped away from Washington after controversy surrounding his role as head of the Department of Government Efficiency and a public falling-out with Trump.

However, the situation appeared to be changing. Musk was appointed as co-director of the Pentagon's Project Meridian earlier this month, marking his return to an official advisory role in the Trump administration.

Meanwhile, Polygon (CRYPTO: POL)-based Polymarket currently prices only a 10% chance that the Republicans will retain control of the Senate and a 38% chance of winning the House.