• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
PoliticsElon Musk

Elon Musk’s PAC helped Republicans get a majority in Congress

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
January 6, 2025, 1:37 PM ET
Elon Musk walking through the halls of Congress
Elon Musk, chief executive officer of Tesla Inc., at the US Capitol in Washington, DC, US, on Thursday, Dec. 5, 2024. Photographer: Al Drago/Bloomberg via Getty Images
Add Fortune on Google for similar content.

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.

Recommended Video

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.”

Others, even those whose campaigns got a late influx of support from America PAC, say they don’t feel particularly beholden or doubt the staying power of the Musk-Trump alliance.

“Do I feel any debt to him? No,” said New York representative Mike Lawler. America PAC spent $1.7 million on his bid for reelection, about 12% of the total outside money that supported the candidate. Polls showed his race was within the margin of error a month before the election; he ended up beating former Democratic Congressman Mondaire Jones by 6.3 percentage points. “I’m going to continue to represent my district and my beliefs the way I have,” he said.

Lawler had no direct contact with the America PAC during the campaign, he said, and that the first time he ever spoke to Musk himself was at the Capitol after the election. “Any dollar spent in support of me is a benefit,” he added.

In Lawler’s and in almost all the other congressional races, America PAC allocated the majority of its support to field operations – door-to-door canvassing that’s expensive and often a challenge for local campaigns. The only race where it didn’t finance in-person activity was in Alaska, where it spent instead on direct mail and digital media to help Nick Begich flip the state’s at-large seat for the Republicans.

It’s impossible to measure how much Musk’s money influenced specific outcomes for its chosen candidates, given a national rightward shift, and its record was far from perfect: The PAC supported eight candidates who lost, including spending almost $5 million to support Republican challengers in Ohio, Maine, New Mexico and Washington.

Nor was Musk the only deep-pocketed donor spending to help Republicans take control of the House. But most give to broader PACs – Timothy Mellon, for example, contributed $15 million to the Congressional Leadership Fund’s $243 million war chest. By starting his own organization, Musk established a direct link with his personal wealth and his priorities.

That’s not always clear to the candidates themselves, though. When asked about the $860,000 that the America PAC spent to help him eke out a 5,800-vote win, Nebraska Republican Don Bacon said he hadn’t known. “You got me there,” he said, noting that his race against Democrat Tony Vargas, in all, involved more than $30 million.

Bacon’s been a vocal critic of Musk, slamming the billionaire for his campaign against the spending deal and for spreading misinformation on X about some of the line items, like congressional salaries.

On the billionaire’s social media network, Musk’s partisans were outraged by the lawmaker’s heresy. They called for Musk to fund a primary challenger in Bacon’s district in 2026.

(Updates with comments from lawmakers and additional context.)

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Politics

Photo of ballots being counted and sorted
PoliticsElections
Nearly 150,000 California mail ballots rejected in June primary, a record high thanks to late-arriving ballots
By The Associated Press and MIchael R. BloodJuly 24, 2026
4 hours ago
Photo of the nun
North AmericaImmigration
Nun detained by ICE on her way to Mass speaks out for first time: ‘For me, a nun, not to go to Mass…it was very, very heartbreaking’
By The Associated Press, Valerie Gonzalez and Jamie StengleJuly 24, 2026
4 hours ago
Vice President JD Vance sits in on a meeting.
North AmericaJD Vance
The Secret Service is investigating a member of JD Vance’s detail over a suspected news leak
By The Associated PressJuly 24, 2026
4 hours ago
Google logo is displayed on a smartphone in front of the EU Flag.
CybersecurityGoogle
EU strikes Google with $1 billion fine in major crackdown on antitrust regulations even as Trump threatens retaliation
By The Associated Press and Sam McNeilJuly 24, 2026
4 hours ago
A supporter holds a sign for Democratic candidate for Texas governor Gina Hinojosa while she speaks during a rally.
PoliticsData centers
‘There are no rules. It is the wild west of data centers’: Texas Democratic candidates pounce on AI data center projects in Republican strongholds
By The Associated Press and Marc LevyJuly 24, 2026
5 hours ago
An overhead map of the location of Pickaxe Mountain and Iran's Natanz nuclear enrichment facility.
North AmericaDonald Trump
Trump threatens to bomb Iran’s deeply buried Pickaxe Mountain nuclear site: ‘There’s not a thing they can do about it’
By The Associated Press and Jon GambrellJuly 24, 2026
5 hours ago

Most Popular

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
2 days ago
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
17 hours ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
1 day ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
2 days ago
Current price of oil as of July 24, 2026
Personal Finance
Current price of oil as of July 24, 2026
By Joseph HostetlerJuly 24, 2026
15 hours ago
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet's business model
AI
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet's business model
By Mia OsmonbekovJuly 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.