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On Bloomberg This Weekend, Bloomberg Corporate Lobbying and Influence Reporter Emily Birnbaum explains how Elon Musk’s record political giving is boosting Republican groups in the final days before the US midterms. Bloomberg News reports Musk has now contributed more than $445 million to political groups this election cycle, putting him among the biggest political contributors ever. Speaking with hosts David Gura and Christina Ruffini, Birnbaum examines Republicans’ advantage in outside spending and Democrats’ strength in direct candidate fundraising, which can make their advertising dollars go further. (Source: Bloomberg)

{beacon} Technology Technology The Big Story Musk ups his midterm spending in final stretch The tech mogul has spent more than $442 million in the midterm elections, after pouring another $76.8 million into his super PAC over the past month, campaign finance filings show. © Susan Walsh, Associated Press America PAC, which Musk launched...

Tech mogul Elon Musk has spent more than $442 million in the midterm elections, after pouring another $76.8 million into his super PAC over the past month, campaign finance filings show. America PAC, which Musk launched during the 2024 elections, received the influx of cash from the SpaceX and Tesla CEO over the course of...

The latest disclosure comes just weeks after reports that he had contributed $366 million to back Republican election efforts.

With a fresh infusion of cash to his super political action committee in the first two weeks of October, Elon Musk has now given more than $445 million in the current election cycle and become one of the biggest-ever contributors to such groups.

Elon Musk poured another $76 million into his super PAC in the first half of October, lifting his political giving this election cycle above $442 million as he bankrolls Republicans' push to hold Congress, Politico reported Thursday. That sum already exceeds the roughly $290...

Incumbent Mike Lawler is fending off a challenge from Democrat Cait Conley in state’s 17th congressional district US politics live – latest updates Elon Musk’s Super Pac has spent more than $500,000 in New York’s highly competitive 17th congressional district race to help Mike Lawler, the Republican incumbent, hold on to his seat. Lawler, a moderate Republican, is fending off a challenge from Democrat Cait Conley in the Hudson valley. It is among the most-watched races that could determine whether Republicans hold on to their majority in Congress. Continue reading...

Elon Musk might be the largest individual spender behind the midterm elections. He also says he’ll give one share of his SpaceX company to every child in the U.S.

House Democrats' main super PAC is winding down its spending in several races where the party has struggled to make headway despite national trends working in their favor . Why it matters: Democrats' ambitions of winning heavily Republican districts are running into the reality of finite resources at the end of a long and expensive midterm campaign. The Democratic Congressional Campaign Committee and its corresponding super PAC, House Majority PAC, have struggled to keep pace with their GOP counterparts' monster fundraising this cycle. Republicans also have the bonus advantage of a network of cash-rich outside groups, namely President Trump's MAGA Inc. and Elon Musk's America PAC . Driving the news: HMP pulled back its spending this week in three Republican-leaning districts, according to AdImpact and a source familiar with the matter. TN-05: Democrats were bullish about their star recruit, Columbia Mayor Chaz Molder, until redistricting made the district redder and embattled Rep. Andy Ogles (R-Tenn.) lost his primary to former state Agriculture Commissioner Charlie Hatcher . HMP has drawn down its ad reservations in the district from nearly $1.6 million this month to a little over $500,000 as of Monday. Trump carried the newly reconstituted 5th district by 21 percentage points in 2024. Cook Political Report rates the race as "solidly Republican." FL-07: Facing a situation similar to Tennessee, Democrats liked their odds of unseating scandal-tarred Rep. Cory Mills (R-Fla.), who lost his primary to former local news anchor Ryan Elijah. Like Molder, Democratic candidate Bale Dalton, a former NASA chief of staff, was a top DCCC recruit and is part of the committee's coveted "Red to Blue" program. HMP essentially halved its investment in the district on Monday, cutting ad reservations from $3.9 million to just $1.95 million. Cook rates the race as "likely Republican," though a poll released by the DCCC on Tuesday had the two candidates tied at 45% each. CO-03: A top target for Democrats when Rep. Lauren Boebert (R-Colo.) represented it, the seat has become a heavier lift for the party since she abandoned it and Rep. Jeff Hurd (R-Colo.) took office last year. Democrat Dwayne Romero, a real estate company CEO and Army veteran, is seen by party operatives as having failed to build the kind of momentum shown by Jessica Killin in the neighboring 5th District. HMP halved its investment in this district too, from more than $2.1 million last week to less than $1.1 million as of Monday. Between the lines: The group has also made partial cuts — what it calls "shaves" — in districts where Democrats have struggled to gain traction but still see a glimmer of hope. That includes Arizona's 2nd District, where Rep. Eli Crane (R-Ariz.) is locked in a rematch with former Navajo Nation President Jonathan Nez in a race Cook rates as "likely Republican." HMP has also taken some money out of Texas' 23rd District, where Republican Brandon Herrera, a right-wing YouTuber, is facing Democratic lawyer Katy Padilla Stout in another race rated "likely Republican." Yes, but: Some HMP triages are in districts where they feel confident the Democratic candidate will prevail. That includes Reps. Greg Landsman (D-Ohio) and Kristen McDonald Rivet (D-Mich.), both of whose races are rated "likely Democratic" by Cook. The PAC has also pulled back in the districts of retiring Reps. Darrell Issa (R-Calif.) and Don Bacon (R-Neb.), which Democrats are increasingly bullish about flipping. The money from these cuts is funneled to districts the party views as more core battlegrounds — including some seats Trump carried by double digits in 2024 that Democrats nevertheless view as winnable. HMP has added at least $4.7 million to its existing investments in nearly two dozen districts over the last two days. What they're saying: Phil Gardner, a senior adviser for Blue Dog Action — a centrist group backing Dalton — told Axios of the cuts in Florida, "I'm not sure what HMP was thinking here." "The rest of the party is not triaging this seat," he said, citing the DCCC's poll and House Minority Whip Katherine Clark's (D-Mass.) plans to campaign there on Wednesday. Gardner said he agrees with "95% of the decisions HMP's made this cycle," but that it is "bonkers they're dumping so much money" into Maine's 2nd District "while leaving one of the party's best recruits high and dry in Florida." Blue Dog Action spent nearly $500,000 to help Dalton win the primary, but it hasn't yet invested any money in the general election. The bottom line: "We're focused on taking back the House," CJ Warnke, a spokesperson for HMP, told Axios in response to Gardner's criticism. Said Gardner: "I'm confident they'll rethink and make the right decision for the final week. Bale can win and hold that seat with everyone's help."

Tech mogul Elon Musk has formally endorsed Republican Ken Paxton in the Texas Senate race after bankrolling his campaign for several weeks. The tech billionaire and one-time trillionaire has spent more than $150 million on Paxton’s candidacy as the lone donor to Texas PAC, a political action committee supporting Paxton. In a post to the...