New Delhi, Oct. 24 -- Elon Musk has committed about $366 million to the 2026 US midterm elections, directing much of his political spending towards Republicans as his companies deepen their reliance on federal contracts and government decisions. With SpaceX securing billions of dollars in public work and Tesla facing important regulatory choices, the outcome of the elections could influence the business environment surrounding Musk's sprawling corporate empire.

At least $276 million of Musk's election spending has gone to Republican groups and his political operation, America PAC, since July, according to an analysis of Federal Election Commission filings. The spending spans at least 40 races, making Elon Musk the biggest individual dono...