Elon Musk says a Democratic sweep in 2028 would be "game over for America." He's backing that warning with more than $445 million in contributions to Republican political groups ahead of Tuesday's midterms.
His biographer Walter Isaacson says Musk now sees the political fight as a personal "crusade."
"He's all in now for the Republicans," Isaacson told CNBC's Squawk Box Friday, describing a billionaire driven more by political fears than concern for his business interests.
The comments followed Musk's warning that Democrats could sweep Congress and the presidency in 2028, turning America into a "permanent one-party state."
Musk Abandons the Spectacle, Not the Spending
In May 2025, Musk said he would reduce his political spending, declaring, "I think I've done enough."
Instead, he has become the largest known individual donor of the 2026 midterms, according to AP, surpassing the roughly $290 million he contributed in 2024.
Musk admitted on Isaacson's podcast that he should have stayed "more in the background" during his time in government. Asked about his chainsaw appearance, he conceded, "I got carried away basically."
Now Musk is operating "more quietly behind the scenes," Isaacson said, concentrating on voter-turnout operations and targeted advertising.
Isaacson singled out Texas, where he said Musk wants to defeat Democrat James Talarico, who faces Republican Ken Paxton for Senate.
Musk contributed $158 million to the Senate Leadership Fund, which transferred matching sums to a political group supporting Paxton.
Yet traders on Polymarket gave Talarico a 71% chance of victory Friday, with approximately $8.56 million traded.
MarketDash reported Thursday that polling firm Verasight found the Texas race closer than prediction markets suggest.
Nationally, Polymarket traders gave Democrats a 94% chance of winning the House and a 72% chance of taking the Senate.
Isaacson Warns of Risks to Musk's Businesses
Isaacson warned that Musk's political commitment could create problems for his companies if Democrats regain power.
He specifically cited NASA and FAA approvals affecting Space Exploration Technologies Corp. (NASDAQ:SPCX), while Tesla Inc. (NASDAQ:TSLA) also faces federal regulatory oversight.
Isaacson warned that if Democrats regain Congress and the White House, "there'll be all sorts of investigations and it'll be retaliatory."
He said Musk's political involvement is not something a conventional corporate government-affairs office would recommend.
But Isaacson doubts Musk is weighing those potential business consequences.
"I don't think he makes a calculus," Isaacson said. "I think he's just deeply driven by some of his political fears."
