Elon Musk just gave $276M to help the GOP win mid-term elections. For a trillionaire, that’s like you spending about $60

Just over a year ago, Elon Musk's relationship with Donald Trump had broken down to the point that the former briefly weighed establishing a third American political party.

That no longer appears to be the case, as Musk is now bankrolling Republican efforts to hang onto Congress in the hotly-contested November midterms. He's reportedly spent $276 million — a sum that would make him the largest private-sector donor in the 2026 midterm election cycle. Overall, Musk's political donations in 2025 and 2026 total $366 million , The New York Times reported.

The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes

Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one

Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP

Political groups are obligated to report their third-quarter spending commitments to the Federal Election Commission on Oct. 15.

The Times also reported that Musk is pouring political cash into key Senate races, along with efforts to reach Republican voters who are less likely to turn out when Trump's name isn't on the ballot.

Musk became the first trillionaire in history on the back of SpaceX's blockbuster initial public offering in June. He has at times lost trillionaire status due to sharp fluctuations in SpaceX's stock price, with Forbes reporting Musk's net worth at $982.9 billion as of Oct. 13.

This means Musk's reported $276 million midterm donation amounts to just 0.028% of his net worth. A new Federal Reserve survey of consumer finances showed that American households had a median net worth of $215,900 . With this in mind, a comparable donation size to Musk's — or 0.028% of the median net worth — amounts to about $60 for a typical U.S. household.

Moneywise reached out to Musk's representatives for comment but didn't hear back in time for publication.

Musk's midterm donation shows that the Tesla CEO hasn't lost his appetite for the national political arena. After last-year's public blow-up with Trump, Musk emphasized he'd like to return to tending to his business empire.

"In terms of political spending, I'm going to do a lot less in the future," he told CNBC in May 2025.

Yet Trump and Musk took steps to mend their fences, and Musk has since returned to Washington D.C. for high-profile state dinners, along with other tech-focused events at the White House. On Oct. 8, Musk attended Trump's AI summit alongside other tech titans, where he received the National Medal of Science from Trump.