Key facts
- Michael Bloomberg spent $80 million to aid Democratic candidates in September and October.
- Donald Trump plans to spend $400 million to aid Republican candidates, with $300 million already disbursed.
- Elon Musk has spent $366 million to aid Republican candidates.
- Some Republicans have criticized Donald Trump's stance on Russia and the Ukraine war.
- Elon Musk is exploring a potential merger between SpaceX and Tesla.
Vast sums of money are being invested in the upcoming US midterm elections, with billionaire Michael Bloomberg contributing $80 million to Democratic candidates and Donald Trump planning to spend $400 million to support Republicans. Elon Musk has also spent $366 million to aid Republican candidates.
Bloomberg's contributions in September and October have largely focused on Democrats aiming to regain control of the US House of Representatives. While Democrats express optimism about taking the House, they acknowledge trailing Republicans in fundraising.
Meanwhile, some Republicans have voiced opposition to Donald Trump's perceived softening stance on Russia and his approach to the Ukraine war. Congressman Don Bacon criticized Trump's actions, including an agreement to purchase Russian diesel and pausing sanctions on Moscow, calling them "disgraceful."
In other developments, Ukraine's president reported that the country is once again receiving advance warnings of ballistic missile attacks. Elon Musk has also indicated that SpaceX and Tesla are exploring a potential merger, with both companies forming special committees to investigate the possibility.