Elon Musk tops donors as billionaires push $11.9B midterm spending
The 2026 US midterm elections are on track to hit a record $11.9 billion in spending, thanks mostly to billionaire donors.
Elon Musk tops the list, dropping nearly $500 million on Republican groups like America PAC and Senate Leadership Fund.
On the Democratic side, George Soros-backed groups have put in $102 million, while former New York mayor Michael Bloomberg has also donated more than $60 million.
Super PACs account for $5.5B
Super PACs, which can raise unlimited funds from individuals, corporations and other organizations, have already accounted for around $5.5 billion of the spending recorded by mid-October.
Most of that cash is going toward advertising, especially TV ads.
The top 40 donors together have put in $2.4 billion, showing just how much influence a handful of wealthy people now have on US elections.