Musk Investing Up To $120 Million To Help GOP In Midterms, Report Says-Despite Saying He’ll Step Back From Politics

Key Points:

• Elon Musk has authorized his super PAC to spend up to $120 million to support Republican candidates in the upcoming midterm elections, signaling a strengthened alliance with the GOP despite a previously tumultuous relationship with Donald Trump.
• Republicans face the risk of losing their narrow majorities in both the House and Senate, partly due to Trump's declining poll numbers and voter dissatisfaction with the economy and the Iran war, with Democrats currently leading by eight points on the generic congressional ballot.
• Musk, who spent over $260 million supporting Trump in 2024 and became the largest political donor in history, has softened his earlier criticisms of Trump and the GOP, deleting inflammatory posts and appearing publicly with Trump multiple times since leaving the Trump administration.
• Despite previously vowing to start his own party after departing the Trump administration, Musk has since repaired ties with Trump, including accompanying him on a trip to China, though he has expressed regret over getting "too involved in politics" and indicated plans to reduce future political spending.