Elon Musk recently addressed reports about his political donations after a post claiming he was pouring money into Republican campaigns to help Donald Trump and the GOP win back power in the midterm elections began circulating online. The Tesla mogul didn’t deny the claim.
Musk spent more than $290 million during the 2024 election cycle, making him the largest political donor of that year by a margin of nearly $100 million. Following a brief government role under Donald Trump that ended after differences between the two, he is back in political conversations.
Musk signals support for Republicans ahead of 2026 midterms
In a post shared on Thursday, the billionaire warned that the country would be in serious trouble if Democrats were to take control of Congress. “America is toast if the radical left wins,” Musk wrote on X. He went on to claim that such a win would lead to illegal immigration and fraud, adding that the country “won’t be America anymore.”
America is toast if the radical left wins.
— Elon Musk (@elonmusk) January 1, 2026
They will open the floodgates to illegal immigration and fraud.
Won’t be America anymore. https://t.co/9lppGuSyAV
Election season is heating up, political donations are under closer scrutiny, and Elon Musk’s influence stretches far beyond Silicon Valley. The year 2025 has been a mix of highs and lows for the Tesla boss. He began the year leading the Department of Government Efficiency under Trump’s second term, only to step away before even reaching the halfway mark.
Musk made headlines during that period for his apparent disagreements with President Trump over the “One Big, Beautiful Bill,” despite having fully backed Trump during the presidential campaign. After months of silence, the two were later seen together again, though Musk’s brief return to government did not signal any revival of an official role.
Now, Musk is back in the political conversation. While he did not confirm how much money he is donating or where it is going, his words made his position clear. His post came in response to a conservative influencer who claimed Musk was “going all-in” on funding Republicans to help President Trump regain full control in the November midterms.
Report says Musk is already funding GOP
According to Axios’ December report, Musk has already made sizeable contributions to Republican candidates running in 2026 congressional races. However, the exact amounts will not be publicly known until campaign finance reports are released later this month. Elon Musk, the CEO of Tesla and SpaceX, now has a net worth of $726.3 billion, according to Forbes’ Real-Time Billionaires List.
Musk’s New Year’s Day post also included a short clip from November showing Trump patting him on the arm. The moment came after Musk’s brief return to the White House as head of the Department of Government Efficiency, known as DOGE. Musk had been one of Trump’s closest allies during the campaign and early months of the administration’s return. He officially left the administration in May.
