Musk spent $366 million on midterms as SpaceX federal work hit $6.78B
Why it matters: Election control could shape oversight, contracts and rules affecting rockets, self-driving cars, power and data centers.
Elon Musk has poured about $366 million into the 2026 midterm cycle while his companies face major federal decisions and reap rising government business. CNBC reported SpaceX booked at least $6.78 billion in federal work through Oct. 1, nearly double its total for all of 2024, citing FedScout data. Since July, at least $276 million has gone to Republican groups and Musk’s America PAC across at least 40 races, according to a CNBC review of Federal Election Commission filings. The outcome could affect congressional oversight and policy touching defense spending, launch licenses, spectrum, autonomous vehicles, electricity and data centers. Democrats are favored to win the House, while the Senate remains a toss-up.