Elon Musk Donates $158 Million to Back Ken Paxton’s Senate Bid

Billionaire Elon Musk has funneled $158 million through Republican super PACs to bankroll Texas Senate candidate Ken Paxton’s Senate bid against Democrat James Talarico, pushing his total midterm spending to $366 million ahead of the November 3 election.

Updated October 20, 2026

The financial rescue operation unfolded over September via two large contributions to the Senate Leadership Fund, the primary super political action committee backing Republican Senate candidates. On Sept. 9, Musk donated $75 million to the fund, followed by another $83 million two weeks later. The committee transferred each sum the very next day into a newly created entity called Texas PAC, which immediately deployed the money into heavy advertising airtime attacking Talarico and promoting Paxton’s record.

How the Musk Infusion Bailed Out Senate Republicans in Texas

The substantial financial contributions from Elon Musk followed discussions between his team and Republicans regarding concerns that Paxton was falling behind in the polls and struggling to match his opponent’s fundraising pace. Earlier in the cycle, the Senate Leadership Fund had actually campaigned against Paxton during a bitter Republican primary, choosing instead to support six-term incumbent Sen. John Cornyn. But after Donald Trump endorsed Paxton and the attorney general won the nomination, national GOP groups had to pivot quickly or risk losing a crucial seat.

Paxton’s financial struggles contrasted sharply with the historic haul brought in by his Democratic opponent. State Rep. James Talarico raised $64 million over the summer, marking the largest third-quarter fundraising figure for a Senate candidate in history. By comparison, Paxton and his affiliated groups brought in $18 million during the same period. To bridge that gap, Musk’s team reached out to the Senate Leadership Fund in August after recognizing that the state’s open Senate seat was in genuine jeopardy.

On Sept. 9, the first day of the GOP midterm convention in Dallas, Musk gave $75 million to SLF. The next day, SLF put $75 million into a new entity called Texas PAC. By the weekend after the convention, the new super PAC was up on the air with a positive spot about Paxton’s work on sex trafficking and a negative ad attacking Talarico as being for ‘they/them, not you.’

The Texas Tribune, via Reason Magazine

Where the Rest of the Trillionaire’s $366 Million Is Going

While the Texas contest absorbed the most dramatic share of attention, it forms only one part of a much larger midterm investment strategy. Federal Election Commission filings show that Musk has spent approximately $366 million since last year, making him the single largest political donor of the election cycle. Beyond his support for Paxton, his spending spans congressional leadership groups and grassroots mobilization efforts across multiple battleground states.

• $158 million routed through the Senate Leadership Fund to boost Ken Paxton in Texas
• More than $76 million poured into America PAC, his personal political action committee focused on turning out inconsistent voters
• $20 million given to the Congressional Leadership Fund, the House GOP’s primary super PAC
• $10 million donated directly to the pro-Paxton Lone Star Liberty PAC
• $10 million directed to the Republican Governors Association and $2 million to the Republican Attorneys General Association

America PAC spokesperson Andrew Romeo defended the spending in a statement to the press, framing the financial effort as a necessary defensive shield against a Democratic takeover in Washington.

If Democrats take control of Washington and win key gubernatorial and attorney general races this November, then America risks becoming a socialist, woke and borderless country. These robust investments have allowed the G.O.P. apparatus to get its message out so Republicans can have a fighting chance to defy history.

Andrew Romeo, America PAC spokesperson

Polling Realities and the Open Questions Heading into Election Day

Despite the historic flood of television, radio, and digital advertising funded by outside super PACs, the race remains exceptionally close. Recent polls show Talarico holding a narrow lead within the margin of error, hovering around 2 to 3 percentage points ahead of Paxton. Analysts note that Paxton faces a steep uphill battle to win over moderate voters and fence-sitters, hampered by a long history of scandal that includes a 2015 securities fraud indictment and his 2023 impeachment by the Republican-led Texas House over allegations of bribery and abuse of public trust.

Democrats have seized on the immense financial disparity to frame their opponents as dependent on billionaire backers. Talarico has made populist economic proposals a central pillar of his platform, calling for higher taxes on wealthy Americans and arguing that elections should not be controlled by mega-donors. Early voting in Texas is scheduled to begin on October 19, leaving both campaigns a narrow window to determine whether hundreds of millions in outside spending can move an electorate that has remained largely unmoved by months of attack ads.

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Update (October 20, 2026)

According to NBC News, Texas state Rep. Gina Hinojosa, the Democratic nominee for governor, announced a lawsuit Monday against Gov. Greg Abbott over heavily redacted emails between his office and Elon Musk. Hinojosa stated she filed the suit to obtain documents that Abbott refused to release, while a spokesperson for Abbott dismissed the action as a "baseless" political stunt. The lawsuit alleges extensive connections between Abbott and Musk, including personal interactions, joint public appearances, and economic-development incentives. Hinojosa previously filed a public information request for the communications following the release of nearly 1,400 pages of records, of which all but about 200 were redacted or blacked out.