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People across the United States are heading to the polls on Tuesday to cast their ballots in the 2026 midterms, which are projected to rank as the most expensive congressional elections in the country's history thanks to massive spending by a few billionaires—with Tesla and SpaceX CEO Elon Musk leading the pack.
Musk, the richest man in the world, has spent nearly $446 million—a minuscule fraction of his net worth—on the 2026 elections to help Republicans cling to their narrow majorities in the House and Senate. Nearly half of Musk's election spending has flowed toward Texas Attorney General Ken Paxton's US Senate bid against Democratic candidate James Talarico, who is leading in recent polls.
While Musk is far and away the biggest spender this cycle, an OpenSecrets analysis published on Monday highlights the spending of 14 other billionaires and their spouses.
Richard and Elizabeth Uihlein, longtime Republican megadonors, have spent roughly $150 million this cycle to help the GOP. Jeff Yass, a billionaire financier who heavily backs school privatization schemes, has poured over $110 million into the 2026 midterms on the Republican side.
"Elon Musk and other billionaires want to make sure that Trump and his Republican Congress works for them—not working families," Sen. Bernie Sanders (I-Vt.) wrote this past weekend in response to massive billionaire spending. "We can beat them. Organize. Organize. Organize."
The only Democratic donor in the top five list of individual contributors this cycle is former New York City Mayor Michael Bloomberg, who has spent more than $83 million.
OpenSecrets observed that "as in past cycles, these megadonors took advantage of campaign finance rules allowing unlimited contributions to independent outside groups such as super PACs, which can spend without limit to support or attack candidates so long as they do not coordinate directly with campaign committees."
According to OpenSecrets, total spending on the 2026 midterms is expected to hit $11.9 billion—surpassing the 2024 elections as the most expensive congressional contest in US history.
While super PACs are required by federal law to disclose their donors, the entities often receive money from organizations that don't face the same disclosure mandates.
Judd Legum, author of the Popular Information newsletter, reported Tuesday that federal filings show $1.4 billion in midterm spending "has come from non-profit organizations that do not disclose their donors."
"This includes both donations from these non-profits to super PACs and money spent directly by the non-profits on electioneering," Legum wrote. "Dark money spending in 2026 dwarfs previous cycles. Spending from organizations with secret donors is more than six times higher this cycle compared to 2018."
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People across the United States are heading to the polls on Tuesday to cast their ballots in the 2026 midterms, which are projected to rank as the most expensive congressional elections in the country's history thanks to massive spending by a few billionaires—with Tesla and SpaceX CEO Elon Musk leading the pack.
Musk, the richest man in the world, has spent nearly $446 million—a minuscule fraction of his net worth—on the 2026 elections to help Republicans cling to their narrow majorities in the House and Senate. Nearly half of Musk's election spending has flowed toward Texas Attorney General Ken Paxton's US Senate bid against Democratic candidate James Talarico, who is leading in recent polls.
While Musk is far and away the biggest spender this cycle, an OpenSecrets analysis published on Monday highlights the spending of 14 other billionaires and their spouses.
Richard and Elizabeth Uihlein, longtime Republican megadonors, have spent roughly $150 million this cycle to help the GOP. Jeff Yass, a billionaire financier who heavily backs school privatization schemes, has poured over $110 million into the 2026 midterms on the Republican side.
"Elon Musk and other billionaires want to make sure that Trump and his Republican Congress works for them—not working families," Sen. Bernie Sanders (I-Vt.) wrote this past weekend in response to massive billionaire spending. "We can beat them. Organize. Organize. Organize."
The only Democratic donor in the top five list of individual contributors this cycle is former New York City Mayor Michael Bloomberg, who has spent more than $83 million.
OpenSecrets observed that "as in past cycles, these megadonors took advantage of campaign finance rules allowing unlimited contributions to independent outside groups such as super PACs, which can spend without limit to support or attack candidates so long as they do not coordinate directly with campaign committees."
According to OpenSecrets, total spending on the 2026 midterms is expected to hit $11.9 billion—surpassing the 2024 elections as the most expensive congressional contest in US history.
While super PACs are required by federal law to disclose their donors, the entities often receive money from organizations that don't face the same disclosure mandates.
Judd Legum, author of the Popular Information newsletter, reported Tuesday that federal filings show $1.4 billion in midterm spending "has come from non-profit organizations that do not disclose their donors."
"This includes both donations from these non-profits to super PACs and money spent directly by the non-profits on electioneering," Legum wrote. "Dark money spending in 2026 dwarfs previous cycles. Spending from organizations with secret donors is more than six times higher this cycle compared to 2018."
People across the United States are heading to the polls on Tuesday to cast their ballots in the 2026 midterms, which are projected to rank as the most expensive congressional elections in the country's history thanks to massive spending by a few billionaires—with Tesla and SpaceX CEO Elon Musk leading the pack.
Musk, the richest man in the world, has spent nearly $446 million—a minuscule fraction of his net worth—on the 2026 elections to help Republicans cling to their narrow majorities in the House and Senate. Nearly half of Musk's election spending has flowed toward Texas Attorney General Ken Paxton's US Senate bid against Democratic candidate James Talarico, who is leading in recent polls.
While Musk is far and away the biggest spender this cycle, an OpenSecrets analysis published on Monday highlights the spending of 14 other billionaires and their spouses.
Richard and Elizabeth Uihlein, longtime Republican megadonors, have spent roughly $150 million this cycle to help the GOP. Jeff Yass, a billionaire financier who heavily backs school privatization schemes, has poured over $110 million into the 2026 midterms on the Republican side.
"Elon Musk and other billionaires want to make sure that Trump and his Republican Congress works for them—not working families," Sen. Bernie Sanders (I-Vt.) wrote this past weekend in response to massive billionaire spending. "We can beat them. Organize. Organize. Organize."
The only Democratic donor in the top five list of individual contributors this cycle is former New York City Mayor Michael Bloomberg, who has spent more than $83 million.
OpenSecrets observed that "as in past cycles, these megadonors took advantage of campaign finance rules allowing unlimited contributions to independent outside groups such as super PACs, which can spend without limit to support or attack candidates so long as they do not coordinate directly with campaign committees."
According to OpenSecrets, total spending on the 2026 midterms is expected to hit $11.9 billion—surpassing the 2024 elections as the most expensive congressional contest in US history.
While super PACs are required by federal law to disclose their donors, the entities often receive money from organizations that don't face the same disclosure mandates.
Judd Legum, author of the Popular Information newsletter, reported Tuesday that federal filings show $1.4 billion in midterm spending "has come from non-profit organizations that do not disclose their donors."
"This includes both donations from these non-profits to super PACs and money spent directly by the non-profits on electioneering," Legum wrote. "Dark money spending in 2026 dwarfs previous cycles. Spending from organizations with secret donors is more than six times higher this cycle compared to 2018."