US midterms 2026: Ken Paxton may have Elon Musk to thank if he wins the Texas Senate race. Here's why

Billionaire Elon Musk has provided a major financial boost to Republican Ken Paxton's Texas Senate campaign, with $158 million in September donations routed through political groups supporting the candidate, according to campaign-finance filings released on Thursday. Musk, the world's richest person and a Texas resident with extensive business interests in the state, sent the money to a super PAC that subsequently transferred the same amount to a group backing Paxton's Senate bid.

The contributions rank among the largest ever recorded in American politics and could help Paxton remain financially competitive against Democratic opponent James Talarico, whose campaign has significantly outraised him. Republicans in Texas have grown increasingly concerned about the contest, one of the most expensive and closely watched races of the year. The party faces the prospect of losing a statewide election in Texas for the first time in more than three decades.

How Musk's $158 million reached the Paxton campaign?

Campaign-finance filings show that Musk donated $75 million to the Senate Leadership Fund, the leading super PAC supporting Senate Republicans, on September 9. He contributed another $83 million on September 23. On each occasion, the super PAC transferred an identical amount to Texas PAC the following day. The group had been established by the Senate Leadership Fund to support Paxton's campaign.

The money transferred to Texas PAC was not necessarily Musk's own contribution, and super PAC officials have publicly said they were seeking additional donations to fund their pro-Paxton efforts. Nevertheless, without Musk's record-breaking contributions, such a substantial sum would have been unlikely to reach the group supporting Paxton, according to the report. It is unusual for an individual donor to be so closely linked to such a large financial commitment benefiting a single candidate. The New York Times reported earlier in the week on Musk's contributions to the Senate Leadership Fund and the possibility that the money would ultimately support Paxton. The latest filings provide further details about how the transfers occurred.

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Musk also donated $10 million to another pro-Paxton group

Beyond the $158 million routed through the Senate Leadership Fund, Musk contributed another $10 million to a separate super PAC supporting Paxton. That donation enabled the group to begin airing television advertisements in late August. Musk lives in Austin and has extensive business interests in Texas. Paxton, meanwhile, serves as the state's attorney general, a position that gives his office regulatory responsibilities involving businesses operating in Texas, including Musk's companies. The two men have been political allies in the state.

Musk targets Paxton's Democratic rival

Despite his substantial financial involvement, Musk has generally shown limited public or private enthusiasm for individual candidates in this year's midterm elections. He has rarely posted on X, his social media platform, about Republican nominees. In recent days, however, he has published several critical posts about Talarico. Talarico has made the political influence of billionaires, including Musk, a central issue on the campaign trail. The dispute highlights the growing role of wealthy donors and outside political groups in high-profile election contests, where super PACs can spend substantial sums independently to support candidates.

Texas Senate race draws national attention

The Texas Senate contest has emerged as one of the most closely watched races of the election cycle, with both parties recognising its potential implications for control of the chamber. Paxton's financial position has been a concern for Republicans as Talarico has raised substantially more money through his campaign. Musk's contributions offer a significant source of financial support for groups backing the Republican candidate, potentially helping them sustain advertising and other campaign efforts.

The scale of the donations also underscores Musk's growing influence in American political fundraising, as wealthy individuals and political action committees direct substantial resources towards pivotal Senate contests. With the race attracting national attention and large financial commitments from both sides, the contest between Paxton and Talarico is expected to remain a major focus as election day approaches.