Billionaire Tesla CEO Elon Musk could be dropping a massive nine-figure sum to help ensure that Republicans keep control of Congress during the midterm elections this November. Reports say Musk could be spending up to $200 million to help support Texas Republican Senate nominee — and current attorney general — Ken Paxton in his battle against Democratic nominee James Talarico.
Paxton is currently facing a very substantial fundraising disadvantage going into the final months before the election. Officials who were briefed on the situation spoke with Wired, saying that Musk is expected to spend between $100 million and $200 million to help boost the GOP, though the exact amount could change. The SpaceX head honcho is expected to focus his war chest on increasing voter turnout in competitive races.
One of the most competitive races is the Paxton showdown with Talarico, which has garnered a lot of national attention due to the stakes. Talarico managed to raise $68.6 million through June 30, which over seven times the $9.2 million brought in by Paxton’s campaign, according to information from Federal Election Commission filings.
A report from the New York Post stated that Talarico also held $21.5 million in cash at the end of June, compared to the $1.8 million for Paxton. While there’s a significant money gap, the race remains a tight one. An Emerson College poll that was conducted between Aug. 9 and 10 had Paxton ahead of Talarico 47% to 46% among likely voters, while eight nonpartisan public polls have the race at practically a tie.
Musk’s money could help Paxton make up some of the difference, especially if the money is poured into operations designed to encourage folks to get out to the polls and cast a ballot, according to Costas Panagopoulos, a distinguished professor of political science at Northeastern University, who spoke with the New York Post.
“It’s a considerable sum that has the potential to shake things up in certain races across the country,” Panagopoulos said to The Post. “Money does not dictate outcomes in elections,” he added, but big spending can force opponents to spend even more money and “create communication imbalances that are hard to overcome.”
The strategy would build on the massive political operation Musk put in action during the 2024 presidential election, when he dropped $288 million helping President Donald Trump and other GOP candidates pull out victories during the election cycle. Most of the money from Musk in 2024 was run through America PAC, the super PAC he bankrolled to help the president win a second term in the Oval Office.
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Filings that were made available in December 2025 show that Musk sent roughly $239 million to the organization, with another year-end filing adding $11.2 million in in-kind spending for petition incentives. America PAC became a huge part of the president’s ground operation, paying several third-party canvassing firms over $46 million across battleground states to specifically target low-propensity voters.
It’s possible Musk could look to use his vast wealth in races that go beyond the Lone Star State, Panagopoulos pointed out, noting there are other competitive Senate races in Georgia, Ohio and Maine, as examples where a large investment from someone like the Tesla CEO could potentially move the needled in favor of Republicans.