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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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PoliticsElon Musk

Musk is a majority-maker, and he won’t let Congress forget it

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January 4, 2025, 10:37 AM ET
Elon Musk with his son "X" before a meeting with members of Congress at the US Capitol on Dec. 5.
Elon Musk with his son "X" before a meeting with members of Congress at the US Capitol on Dec. 5.Roberto Schmidt—AFP via Getty Images
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Mike Johnson, fresh off a narrow reelection as US House speaker, now commands the slimmest congressional majority since 1930. It beats being in the minority, which is where Republicans seemed headed if not  — at least partly — for a late infusion of cash from Elon Musk.

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A political action committee controlled by the world’s richest man spent $19.2 million in the final six weeks of the 2024 election to back Republicans in too-close-to-call races around the country, according to public reports filed with the Federal Election Commission. Ten of the PAC’s 18 chosen candidates won, flipping seats in Colorado and Alaska, claiming a vacancy in Michigan and holding off  stiff challenges in Iowa, Nebraska and New York.

In their first votes of 2025, all 10 joined their GOP colleagues in supporting Johnson, who also had the backing of President-elect Donald Trump – and Musk.

Musk, of course, has loudly and repeatedly declared his intentions to influence lawmakers on behalf of Trump. On X, he has a megaphone to frame issues – sometimes with misinformation – rally supporters and attack opponents. But with $437 billion in personal wealth and a political funnel in America PAC, he’s also begun to directly shape the makeup of the legislative body. 

Now there are Musk-backed lawmakers on committees that oversee transportation, space, artificial intelligence, social media, defense spending and other areas that directly affect Musk’s companies. The billionaire has promised more to come ahead of the 2026 midterm elections.

A spokesman for America PAC didn’t respond to requests for comment. 

“Normally, PACs go somewhat dormant after a big election,” Musk wrote on X. “@America PAC is going to do the opposite and keep grinding, increasing Republican registrations in key districts around the country, in preparation for special elections and the midterms.”

Legislators are still figuring out how to react to Musk’s money, his megaphone and his proximity to Trump. Dozens, including at least two Democrats, have joined the new DOGE caucus, which pledges to support the so-called Department of Government Efficiency, an effort to slash federal spending helmed by Musk and Vivek Ramaswamy.

The impact of Musk’s spending – and what it portends for the future – can’t be overstated, Craig Holman, government affairs lobbyist for Public Citizen, said. Every incumbent wants him to help the GOP hold its majority. By threatening to set up and fund primary challenges to lawmakers who oppose Trump’s legislative agenda, Musk may influence candidates for years to come.

“His money can be the very sole deciding factor in who’s running for office,” Holman said. “He’s probably the most persuasive person roaming the halls of Congress.”

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