SpaceX and Tesla have high election stakes as Elon Musk pours $366 million into campaigns — SkimNews
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- Elon Musk has committed $366 million to the 2026 election cycle across at least 40 races, making him the midterms' largest individual donor, with $276 million going to Republican groups and his own America PAC since July.
- SpaceX has secured $6.78 billion in federal contracts through October 2026, nearly double its 2024 total, including $2.29 billion from the Space Force for a military communications network and $4.16 billion for threat-detection satellites.
- America PAC, Musk’s political operation, is spending heavily in key states including $22.7 million across six battlegrounds, supporting GOP candidates who back favorable policies on data centers, AI, and infrastructure.
- Tesla, SpaceX, and Musk’s AI ventures face critical federal decisions on defense spending, launch licenses, spectrum allocation, autonomous vehicles, and data center regulation, with Congress overseeing agencies that directly impact their operations.
- Musk and his trust have contributed at least $6 million to Texas state candidates including Gov. Greg Abbott, Lt. Gov. Dan Patrick, and House Speaker Dustin Burrows, aligning with officials who control permitting, taxes, and incentives for his Texas-based operations.
- Sen. Susan Collins, chair of the Senate Appropriations Committee, is backed by America PAC, giving Musk potential influence over funding bills for NASA and the Pentagon, major customers of SpaceX.
Why it matters: Musk’s $366 million political outlay directly correlates with $30.7 billion in federal contracts for SpaceX and regulatory stakes across his companies, meaning Republican gains could shield his businesses from oversight while Democrats retaking Congress risks investigations into his government ties and contracts.
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