Elon Musk has committed roughly $366 million to the 2026 election cycle, including at least $276 million for Republican groups and his America PAC, making him the cycle’s largest individual donor. Meanwhile, SpaceX has secured $6.78 billion in federal work so far this year and more than $30.7 billion since 2008, while government decisions on defense, launch licenses, spectrum, autonomous vehicles and energy affect its businesses and those of Tesla. In Texas, $189.6 million of Musk’s political spending is aimed in part at helping Republican Ken Paxton win a Senate seat, in a state where his companies depend on permits, electricity and public incentives. Republican victories could preserve Musk’s influence and a favorable regulatory environment, whereas Democratic control could lead to congressional investigations and subpoenas.
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