Musk’s millions fail to lift Republicans as Democrats win Congress

Elon Musk’s record-breaking $445 million in political donations failed to secure Republican victories in the 2026 congressional elections, highlighting the limits of massive campaign spending. Democrats countered with their own billionaire backers and outspent Republicans on candidate campaigns, projecting over $2.2 billion versus $1.4 billion. Conservative outside groups, however, spent more than $2 billion, while liberal groups spent $1.7 billion. Other major donors included Marc Andreessen and Ben Horowitz at $115 million for Republicans, and George Soros-linked groups and Michael Bloomberg each exceeding $100 million for Democrats. Technology interests also targeted state legislatures over AI and data center policies.