Sen. Bernie Sanders (I-Vt.) criticized Space Exploration Technologies Corp. (NASDAQ:SPCX) CEO Elon Musk’s political spending ahead of the 2026 midterm elections, warning that the billionaire’s growing influence could threaten American democracy.
Sanders Slams Musk’s $400 Million Political Spending
On Wednesday, in a post on X, Sanders wrote, “Musk’s super PACs have now spent over $400 million to buy the midterm elections.”
“This campaign is not just about Democrats vs. Republicans,” he said. “It’s about whether the world’s first trillionaire can buy our government.”
He concluded by urging Americans to reject oligarchy, writing, “Say NO to Musk. Say NO to oligarchy. Say yes to democracy.”
Musk Emerged as Biggest Midterm Donor
Last week, Musk poured more than $276 million into Republican groups and his super PAC since July, making him the largest known donor in the 2026 midterm elections.
He contributed $158 million to the Senate Leadership Fund and more than $76 million to America PAC. His known federal political contributions during the 2025-26 cycle reached approximately $366 million, surpassing the roughly $290 million he spent during the 2024 presidential election.
PAC Spending Ahead of Midterms
Last week, Anthropic’s employee-funded PAC spent more than $255,000 in the third quarter, splitting donations nearly evenly between Republican and Democratic campaigns.
Last month, President Donald Trump pledged to direct $400 million to $500 million from his political operation toward Republican candidates in the 2026 midterms, saying, “This is my money that I control.”
However, a Federal Election Commission filing showed MAGA Inc. held $403.45 million in cash as of July 31.
Trump’s Approval Hits New Low
According to a Reuters/Ipsos poll on Monday, Trump’s approval rating fell to 31%, its lowest level across both presidential terms.
Democratic congressional candidates led Republicans 47% to 35% among registered voters, while Democrats held a 40% to 33% advantage on handling the economy. Women favored Democrats over Republicans 50% to 32% ahead of the Nov. 3 midterm elections.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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