Elon Musk's businesses are growing ever closer to the federal government even as he spends record sums on the 2026 midterms. According to FedScout, SpaceX has received $6.78 billion in federal work so far this year, nearly twice its $3.8 billion total for 2024. Musk has committed roughly $366 million across at least 40 races, with at least $276 million going to Republican groups and his America PAC since July, and $189.6 million aimed at helping Republican Ken Paxton in Texas. One critic argues that Musk wants favors and protection from oversight, while Musk warned on X that he will pursue those who challenge him. Musk has also given at least $6 million to state candidates and groups, including Gov. Greg Abbott.
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Elon MuskSpaceXmidterm electionsgovernment contracts
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Related tickers and likely impact
TSLA
• NeutralTesla, Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.4T |
| Close on 10/21/2026 | 386.55 |
| Change that session | +3.44% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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