Elon Musk has reportedly spent $366m since last year to support Republicans in the US midterm elections, including $158m for a Senate-focused super PAC. The spending comes as Republicans face concerns over Donald Trump’s popularity and the cost of living.
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01Summary
- 01The New York Times reported on Monday that Musk has spent $276m since July alone.
- 02Of that, $158m went to a super PAC focused on Republican Senate candidates.
- 03Musk's political action committee, America PAC, confirmed the spending totals.
- 04Voters in the US will head to the polls on November 3 in midterm elections that will decide congressional majorities and other races.
- 05As of August, MAGA Inc reportedly had $416m in its coffers and spent $22m in the past month on Texas's open Senate race.
02Why it matters
The spending underlines how much money is flowing into a tightly fought election that will shape control of Congress. It also shows how billionaire donors can influence campaign messaging at a time of voter concern over the economy and Trump.
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