After donating billions to Donald Trump’s campaign and subsequently engaging in a public dispute with the former president, Elon Musk had stated he would significantly reduce his political spending.
However, Musk has now “re-engaged in the political arena,” according to The Hill.
The Tesla and SpaceX CEO has contributed a quarter of a billion dollars in a short period to Republican groups ahead of the upcoming midterm elections.
Elon Musk and Donald Trump.
Photo: EVAN VUCCI / AP TT NYHETSBYRÅN
The world’s wealthiest individual, Elon Musk, donated over 2 billion Swedish krona to bolster Donald Trump’s 2024 presidential campaign.
“He was very visible everywhere in the last 30 days of the election,” said Republican strategist Brandon Scholz.
Upon taking office, Trump tasked Musk with identifying cost savings within federal government applications, reportedly related to Doge. Musk’s controversial actions sparked widespread protests, and he stepped down from the role last summer.
This was followed by a public falling-out between Musk and Trump, with Musk leveling harsh accusations against the former president and suggesting JD Vance should take over as president. Trump, in turn, stated that Musk “had gone crazy.” The two appear to have since mended fences.
“As far as political spending is concerned, I will do much less in the future,” Musk said at the time.
“Politically Polarizing Figure”
More recently, Musk has donated a total of 268 million Swedish krona to two leading Republican groups and initiatives supporting the Senate election in Kentucky. This influx of capital comes as Republicans face potential losses in the House of Representatives in November, according to polling data.
The Tesla founder “could play a decisive role in the battle for Congress this fall,” The Hill reports.
“It’s a big thing for Trump and the Republicans to have the world’s richest man on their side. It really feels like the president and Musk are back on good terms with each other. For Republicans running for office around the country, I hope that holds as long as possible,” said Republican strategist Brian Seitchik. The renewed financial support from Musk is likely to be closely watched by both parties as the midterm elections approach.
However, Cayce Myers, an expert on political campaigns, cautions that there is a clear risk for Republicans with Musk’s renewed involvement in politics.
“Money is important in politics, but Musk himself is a politically polarizing figure. Given that his money is needed, the fact that he is involved creates a complicated political situation for Republicans,” Myers said.
