PoliticalSpending News & Analysis

Elon Musk's super PAC spends $800,000 on Senate midterms

Elon Musk's super PAC, America PAC, has spent over $800,000 on seven Senate races and several House districts, according to a Federal Election Commission disclosure. Nearly 90% of this funding was directed towards Senate campaigns, including more than $247,000 in Texas supporting Republican Attorney General Ken Paxton against Democrat James Talarico. The PAC plans to spend as much as $120 million in total to assist Republicans in the upcoming elections. This financial backing can influence election outcomes, potentially affecting market sentiments related to companies associated with Musk, such as Tesla (TSLA).