Elon Musk, the CEO of Tesla Inc. (TSLA) and Space Exploration Technologies Corp. (SPCX), has dropped $158 million into political groups backing Texas Attorney General Ken Paxton's Republican Senate bid. That's not a typo. One hundred and fifty-eight million dollars.

Musk Routes $158 Million Through GOP Super PAC

Federal Election Commission filings show Musk donated $75 million to the Senate Leadership Fund on Sept. 9 and another $83 million on Sept. 23, according to The Hill. The Republican-aligned super PAC then transferred those amounts to Texas PAC, which supports Paxton's Senate campaign, in the days that followed.

Musk was the sole donor to Texas PAC during the third quarter, per the filings. Axios first reported the transfers.

Paxton faces Democrat James Talarico in a closely contested race for the Senate seat currently held by Republican Sen. John Cornyn (R-Texas). Meanwhile, America PAC, a political group backed by Musk, has spent $7.5 million this year to support Paxton and oppose Talarico, according to separate filings.

GOP Super PAC Posts Record Fundraising Haul

The Senate Leadership Fund reported raising $272.9 million from July through September, including $209.7 million from donors. It entered the final weeks before the election with more than $155 million in cash, marking its strongest quarterly fundraising performance to date.

The organization is a major financial force aligned with Republican Senate leadership, as the party works to defend its congressional majorities.

Musk Emerges As Major Midterm Donor

Despite previously signaling he might scale back his political involvement, Musk has become the biggest known donor of the 2026 election cycle. The New York Times previously reported that Musk has contributed approximately $366 million this cycle.

Musk has extensive business interests in Texas, including SpaceX's Starbase facility, The Boring Company's San Antonio headquarters and a planned semiconductor and artificial intelligence computing facility in Grimes County.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.