Tesla Chief Executive Officer Elon Musk has resumed funding for Republican House and Senate campaign efforts ahead of next year's U.S. midterm elections. It was read as a signal that a chill that set in earlier this year as his relationship with President Donald Trump deteriorated has recently eased.
Axios reported on the 16th, citing two sources familiar with the matter, that Musk recently donated a large sum to help Republicans win congressional races and indicated a willingness to provide additional support during next year's campaign period. However, the size of the donation is not expected to be confirmed until the campaign finance report to be released next month. Observers said Musk's money could bolster the Republican camp as Democrats look to retake the House majority.
Musk emerged as the biggest individual donor in last year's presidential election by giving about $291.5 million (about 390 billion won). A significant portion of that money was reportedly used to support Trump's reelection. The latest donation was said to have come after a dinner last month with Vice President J.D. Vance, White House Chief of Staff Susie Wiles, and former White House Deputy Chief of Staff Taylor Budowich. Jared Birchall, a close aide who is involved in managing Musk's political spending, was also said to be present. Vice President Vance was reported to have been involved in preparations for the dinner at the vice president's residence.
Trump and Musk grew close for a time after last year's presidential race. Trump brought Musk into the administration to oversee a federal budget-cutting drive dubbed the "Department of Government Efficiency (DOGE)." There were also accounts that Musk stayed overnight at the White House multiple times. But tensions escalated after Musk left the administration in May. Musk pushed back against Trump's decision to withdraw his close aide Jared Isaacman from consideration to lead the National Aeronautics and Space Administration (NASA). He blasted Trump's key legislative blueprint as a "disgusting monster," floated launching a third-party-style "American Party," and hinted he could back candidates to challenge sitting Republican lawmakers. Trump, in turn, expressed disappointment and criticized Musk as "crazy."
Musk later said he regretted some of his remarks. In September, he delivered a speech alongside Trump at a memorial service for conservative activist Charlie Kirk, signaling a thaw. More recently, he attended a White House dinner Trump hosted for Saudi Crown Prince Mohammed bin Salman.
Trump and Musk's close associates believe it is unlikely Musk will actually carry out the "oust incumbent Republicans" plan he floated in the past. Instead, there is speculation he is returning to the traditional role of a major donor who gives large sums to Republican campaign organizations and super PACs (SuperPACs). Still, some said that even if relations have improved, they are unlikely to fully revert to the tight alliance of the past.
Within the Republican Party, there were expectations that Musk's return could strengthen the "cash engine" on the fundraising front. Analysts said that if funds are concentrated on ad buys and organizational operations in competitive House districts and on super PAC activity in key Senate states, it could sway the balance. But there were also assessments that it is unclear whether Musk will personally handpick candidates or delve deeply into message strategy as he did before.
Spokesperson for Trump, Musk's camp, and Republican House and Senate super PACs declined to comment on related inquiries. Democrats were also said to be considering highlighting a "billionaire money" offensive to trigger a backlash. Musk's next moves are expected to be a major variable in the Republican campaign.