What is Elon Musk's current net worth? His fortune explored after report alleges staggering amount SpaceX boss spent on US midterms

Elon Musk has reportedly spent over $445.77 million on the US midterm elections since last year. The billionaire has funded the Republican-backed political action committees (PACs), with the most money going into his home state of Texas.

The SpaceX and Tesla CEO has been a major supporter of the Republicans in the last few years. He endorsed and supported Donald Trump in the 2024 presidential election, both financially and by speaking at rallies. This year, he has been less visible on the ground, but has significantly funded the Republicans.

According to the US Federal Election Commission data, Elon Musk has poured in over $445.77 million into the midterm elections (via The Guardian). His money has gone to the Republican PACs, with the American PAC getting the highest at $216 million. The Senate Leadership Fund PAC received $168 million, CLF PAC received $30 million, and the others received $32 million.

According to Forbes, Elon Musk, who is the richest man in the world, has a net worth of $868.5 billion as of November 2, 2026. He has become the largest single-cycle political donor in modern history in the US. He reportedly donated around $300 million in the 2024 presidential election and has exceeded that mark this year.

His home state, Texas, has received over $34 million from the America PAC for the midterm elections. Ken Paxton is the Republican candidate for the US Senate and is competing against Democrat James Talarico, among others. The Senate Leadership Fund also supports Paxton.

Also Read: 'Paxton, you take bribes': Ken Paxton rally audience member reacts after he tells crowd to tell friends the difference between 'me and James Talarico'

James Talarico slammed Elon Musk's involvement in midterm elections, claiming Texas "is not for sale"

James Talarico is the Democratic candidate for the US Senate from Texas for the midterm elections. He and Elon Musk have engaged in a war of words numerous times on social media and at rallies during the campaign.

Talarico has often slammed the billionaire for his support of the Republican candidate Ken Paxton, and their thoughts on multiple policies. During a rally at the University of Texas at Austin on October 23, he took aim at Musk and said (via The Guardian):

“Texas is not for sale... Elon Musk is trying to buy the Senate seat. We just found out that the richest man in the world is almost single-handedly bankrolling this effort to install Ken Paxton in the US Senate and stop the movement that we are building in our state.”

“In all likelihood, if you’ve seen an attack ad on your screens, that was Elon. If you’ve gotten lies in your mailbox, that was Elon. If you received a text message saying scary things about me with scary black and white photos, that was Elon too,” he added.

Talarico further said that the Tesla CEO wants 'our land, our water, and our tax dollars'. He added:

“He is trying to buy Texas. But on November 3rd, we are going to deliver a crystal clear message to the world’s first trillionaire: Texas is not for sale.”

Meanwhile, Musk has also slammed Talarico on X (formerly Twitter). He claimed in one post that the Democrat wants to "trans your kids and destroy the border."

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Also Read: Elon Musk calls James Talarico "far left extremist" after clip of latter talking about "neighbors with a uterus" goes viral

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