Elon Musk has once again donated millions of dollars to Republican candidates and his own "America PAC."
According to 2025 filing documents released by the U.S. Federal Election Commission (FEC) on Monday, February 2nd, in the fundraising race ahead of the upcoming November midterm elections, the Republican National Committee (RNC) is currently holding a significant lead over the Democratic National Committee (DNC), with nearly $100 million in cash on hand, while Democrats face a fiscal situation starting with a deficit.
The report indicates that the RNC raised a total of $172 million in 2025, with a cash balance of $95 million. The Democratic National Committee (DNC) raised $145 million for the full year, but ended the year with only $14 million in cash on hand and still carries $17 million in debt.
Republicans Face Campaign Setback Although funding is often seen as a key factor influencing election outcomes, in a recent Texas state legislative election, Democratic candidate Taylor Rehmet, who had a fundraising disadvantage, defeated Trump-endorsed Republican candidate Leigh Wambsganss by a landslide margin of 14 percentage points.
In terms of fundraising, Rehmet raised only about $380,000 in campaign funds, while Wambsganss raised over $2.5 million.
Texas's 9th district, which Rehmet represents, has long been considered a Republican stronghold; Trump won the district by a 17-point margin in 2024.
Democratic National Committee Chairman Ken Martin stated that Rehmet's victory is encouraging for Democrats and called the win "a warning to Republicans nationwide," as Democrats actively prepare for the midterm elections.
Despite the startling defeat in the Texas local election, Republican leadership expressed continued optimism about the party's performance in this election cycle.
"We will have ample campaign funds, a strong record of achievement, and numerous excellent candidates," said House Speaker, Louisiana Republican Representative Mike Johnson.
Musk Is Back In 2024, Tesla founder Elon Musk became the largest political donor in that year's presidential election, spending $277 million to support Trump and other Republican candidates. Subsequently, after leaving his government role and his relationship with Trump soured, he had expressed plans to start his own political party.
However, after a brief period of quiet, Musk has again donated millions to Republican candidates and his own "America PAC."
According to Federal Election Commission records, in 2025, Musk contributed at least $73 million in total to federal political committees.
Furthermore, in 2025, Musk also donated $10 million each to the Senate Leadership Fund and the Congressional Leadership Fund, two super PACs aimed at helping Republicans win congressional seats.
In June of last year, Musk also donated $5 million to a super PAC supporting the "Make America Great Again" effort.
Records show that last year, Musk also donated over $45 million to the "Build America PAC."
Most recently, Musk donated $10 million to Republican candidate Nate Morris. Morris is a businessman running to succeed the retiring Kentucky Republican Senator Mitch McConnell.
While Musk's donations to Republicans are not new, the information released by the FEC this week provides the first clear details on the specific amounts of his contributions.
"He [Musk] has been a great help," Senate Majority Leader John Thune said regarding Musk's donations to the GOP. "I certainly welcome it, and the more he is willing to do, the more we welcome it."
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