Musk Jumps into US Midterm Elections…Spends 1.1 Billion Won in Two Weeks

Musk Jumps into US Midterm Elections…Spends 1.1 Billion Won in Two Weeks

Focuses on Senate elections, including Texas, where his headquarters are located and which has emerged as a battleground.

Elon Musk, CEO of SpaceX and Tesla, who has spent vast sums to ensure Republican victories every US election season, has fully jumped into this year's midterm elections as well.

According to CNN and CNBC on the 3rd (local time), 'America Pack,' a super PAC (political fundraising organization) directly founded by Musk, disclosed its first expenditure details related to the midterm elections to the Federal Election Commission the previous night.

According to these details, a total of 800,000 dollars (approximately 1.09 billion won) was spent over about two weeks from the 18th to the 31st of last month, with 90% of it allocated to federal Senate elections.

Notably, 247,000 dollars was spent solely on the federal Senate election in Texas.

Texas, where SpaceX and Tesla headquarters are located, is traditionally a Republican stronghold, but it has emerged as a battleground in this midterm election.

Democratic candidate James Talarico and Republican candidate Ken Paxton are fiercely competing, with Talarico's campaign outspending Paxton's side by spending 25 million dollars on advertising since late May.

Additionally, 170,000 dollars was spent on the Maine election, where Senator Susan Collins (Republican) is seeking re-election, and 106,000 dollars on the Ohio election, where Republican Senatorial candidate John Husted is running.

Furthermore, funds were also provided to elections in New Hampshire (91,459 dollars), Iowa (54,600 dollars), Michigan (25,605 dollars), and Alaska (17,235 dollars).

A total of 90,000 dollars was also spent on federal House of Representatives elections. Support was provided to some constituencies in Wisconsin, New York, Virginia, New Jersey, Pennsylvania, and Florida.

Most of these expenditures are categorized as printing costs, suggesting they were primarily used for mail advertisements.

Musk is expected to inject more money into elections in the future.

During the 2024 presidential election, Musk garnered attention by investing 260 million dollars (approximately 370 billion won) to help then-candidate Donald Trump win.

Although he later stated he would significantly reduce political spending, a New York Times (NYT) report in July revealed that Musk had approved a plan to spend up to 120 million dollars through America Pack for the November midterm elections.