Elon Musk Commits $366 Million to 2026 Midterms as SpaceX Federal Work Hits $6.78 Billion
Updated
Updated · CNBC · Oct 22
Elon Musk Commits $366 Million to 2026 Midterms as SpaceX Federal Work Hits $6.78 Billion
2 articles · Updated · CNBC · Oct 22
Summary
$366 million in commitments across at least 40 races has made Elon Musk the biggest individual donor of the 2026 midterms so far, with at least $276 million flowing since July to Republican groups and America PAC.
SpaceX's federal business has surged alongside that spending: the company booked $6.78 billion in government work through Oct. 1, nearly double all of 2024, while Tesla and Musk's AI operations face major decisions on launches, spectrum, autonomous vehicles and data centers.
$189.6 million of Musk's political money is aimed at helping Republican Ken Paxton in Texas, where Tesla, SpaceX and The Boring Co. have major operations and state officials control taxes, power, permits and incentives.
Democratic control of either chamber could bring subpoenas and investigations into Musk's companies, contracts and DOGE role, while Republican wins could help preserve his influence over Congress and agencies that fund or regulate his businesses.
Musk's reach now extends from campaign spending to Washington access: after a 2025 rupture with Donald Trump, he has reentered the president's orbit and was appointed on Sept. 30 to co-lead the Pentagon's Project Meridian.
Could the growing overlap between massive private wealth and government defense contracts signal a new era of corporate influence over national security?
Will placing top defense contractors in charge of military advisory boards redefine the future of warfare or create unprecedented ethical conflicts?
How Elon Musk’s $369 Million Political Spending and SpaceX’s $6.45 Billion Federal Contracts Redefined U.S. Power and Oversight in 2026
Overview
In 2026, Elon Musk became the largest political donor in U.S. history, channeling $369 million into Republican campaigns while SpaceX secured $6.45 billion in federal defense contracts. Soon after, Musk was appointed to lead the Department of Government Efficiency (DOGE), where he kept his executive roles and gained access to confidential government and competitor data. This raised alarms among ethics watchdogs and rival contractors, especially as regulatory agencies faced budget cuts and slowed enforcement on Musk’s companies. Legal challenges followed, including a court order blocking DOGE from sensitive Treasury systems, while public backlash and grassroots fundraising surged in response to Musk’s influence.