The world’s richest person, Elon Musk, has donated $276 million over the past three months to political action committees and conservative organizations supporting Republicans ahead of the upcoming US midterm elections.

The latest transfer brings the total midterm donations from Musk, the chief executive of Tesla and SpaceX, to $366 million.

First reported by The New York Times, the figures were confirmed to The Hill by a spokesperson for America PAC, which Musk founded. These latest expenditures establish Musk as the largest known donor of the 2026 midterms.

The bulk of Musk’s financial backing between July and September was directed towards congressional races.

The US billionaire transferred $158 million to the Senate Leadership Fund, a super PAC supporting Republican Senate candidates, and $20 million to the Congressional Leadership Fund, which finances House Republicans.

Millions divided among various committees

Musk, who provided more than $76 million during the period to America PAC, an entity he founded during the 2024 election cycle, also funded state-level contests.

The businessman transferred $10 million to the Lone Star Liberty PAC, which supports Texas Republican Senate candidate Ken Paxton, while donating $10 million to the Republican Governors Association and $2 million to the Republican Attorneys General Association.

In statements given to The New York Times and confirmed by The Hill, America PAC spokesperson Andrew Romeo argued that if Democrats take control in Washington and win critical state races, the country faces the risk of becoming one with indefensible borders.

Romeo said the investments enable the Republican apparatus to deliver its messages to voters.

Field spending continues despite talk of retreat

Musk, who kept his distance from politics for many years, entered the arena by spending hundreds of millions of dollars for Donald Trump during the 2024 election.

Accompanying Trump on campaign trails, Musk subsequently took charge of the Department of Government Efficiency (DOGE), which sparked controversy through federal employment and budget cuts.

Musk stepped down from his White House role in late May 2025 and remained politically quiet for months following a public rift with Trump.

After announcing last May that he would sharply scale back his political spending, Musk told The Economist in a July interview that he had become overly involved in politics and had gone too far.

Despite those remarks, Musk pressed ahead with political activity in July by authorizing America PAC to spend between $100 million and $120 million on a fresh field operation aimed at driving conservative voter turnout in the 2026 midterms.

Having repaired ties with Trump following their public spat, Musk joined the US president on an official visit to China in May and was also present during Chinese President Xi Jinping’s visit to Washington last month.

US President Donald Trump is reportedly preparing to issue a new presidential directive soon in a bid to rein in escalating diesel prices across the country.

According to a report by the Reuters news agency citing three oil industry sources, the White House is weighing the enactment of the prepared package of measures directly in the form of a presidential memorandum.

The memorandum in question will reportedly instruct multiple US federal agencies to find and implement ways to lower diesel fuel costs, primarily by expanding oil extraction operations and refinery output.

White House plans to deploy Defense Production Act

According to information shared in the report, the Trump administration is exploring legal avenues to overcome restrictions imposed on energy production by state administrations and local government authorities.

The administration could reportedly invoke the Cold War era Defense Production Act to that end.

The legislation in question grants the US president the authority to provide state loans and financial guarantees to expand the production of materials of strategic importance. The law also makes it possible to require private companies to prioritise government orders.

Reuters reported that the White House is comprehensively examining the prospect of putting this legal mechanism into effect.

In contrast, oil refinery executives were noted to have made a recommendation to government officials last month.

Industry representatives suggested allocating federal budget resources toward modernising existing operational refineries and expanding their capacity, rather than establishing new facilities from scratch.

Plant managers stated that building new facilities would require substantially more time and higher costs.

The Wall Street Journal newspaper also highlighted in a report published in mid September that US-based oil companies were warning of the onset of a global fuel crisis.

The newspaper noted that during the period in question, diesel prices broke records, whilst the price per barrel of crude oil approached the $101 mark.

American Automobile Association (AAA) data show that as of Thursday, 8 October, the average diesel fuel price nationwide stood at $6.28 per gallon (approximately 3.8 litres).

High fuel costs pose risk ahead of congressional elections

It was pointed out that the increase in diesel fuel prices creates political risks for the Republican Party ahead of the congressional elections to be held on 3 November.

It was noted that the outcome of the vote will determine whether Republicans can maintain their majority in Congress.

Because diesel is heavily consumed in freight transport, the agricultural sector, and home heating in particular, price rises in the fuel were stressed as driving headline inflation higher.

Trump previously announced that he had reached an understanding with Russian President Vladimir Putin regarding the supply of Russian diesel fuel to both the American and global markets. The US president also thanked Putin for the arrangement concerning Russian diesel.

The US Department of the Treasury extended a temporary waiver licence permitting commercial transactions involving Russian diesel fuel until 7 April 2027.

Under the delivery schedule shared by Donald Trump, Russia will immediately ship more than 300,000 tonnes of fuel.

Shipments will reportedly continue with 500,000 tonnes in November, followed by the delivery of an additional 1 million tonnes of fuel. Over the remainder of the process, Moscow could send a further 3 million tonnes of diesel depending on the overall technical condition of refineries.

Following the announcement of the consensus between the two leaders, US diesel futures fell by approximately 5% to reach $4.64 per gallon.

Meanwhile, energy analysts consulted by Reuters express doubt as to whether the additional shipments arriving from Russia will suffice to secure a lasting price decline across the markets.

Peter Thiel has argued that former President Barack Obama and Pope Leo XIV are stoking public fears over artificial intelligence merely to enhance their own popularity.

In newly disclosed “Antichrist” lectures obtained by Politico, Thiel specifically targeted the two leaders while warning against the Antichrist, which he sees as halting technological progress and advocating a regulatory “one-world government”.

“A lot of people know that AI is politically unpopular, and they want to use that to boost their own popularity,” Thiel reportedly said during his address in Nashville.

Thiel continued:

“Both Obama and the pope fall into this category. Obama knows that Democrats have no ideas, but at least they can oppose AI.”

Obama recently called on Democrats to develop a comprehensive approach to the regulation of artificial intelligence.

Referring to Leo’s first encyclical on AI, “Magnifica Humanitas”, Thiel said: “The Church needed a politically popular issue to divert attention from child sexual abuse scandals, and it found it in AI.”

On the pontiff, he stated verbatim:

“AI is the greatest threat to late modernity. The pope realizes this. That is why he wrote his first encyclical… The Church needed a politically popular issue to divert attention from child sexual abuse scandals, and it found it in AI.”

In recent months, Pope Leo has gone on the offensive against artificial intelligence. The leader of the Catholic world recently said that this technology could create a “paradise of machines” that could endanger humanity.

Thiel’s relationship with the Catholic Church is fraught. This spring, largely in response to Thiel’s earlier lectures on the “Antichrist”, Vatican adviser Father Paolo Benanti penned an article entitled “The American Heresy: Should We Burn Peter Thiel?”

Throughout the lectures, Thiel framed familiar technology debates in religious terms.

Citing Matthew 24:24, for instance, the investor quoted:

“For false christs and false prophets will arise and perform great signs and wonders, so as to deceive, if possible, even the elect.”

Regarding this verse, he asked in Nashville: “And what about the psychology of the Antichrist? Could he see himself as the Christ?”

In his Nashville lectures, he also delved into the concept of the “Katechon”, drawn from the Second Epistle to the Thessalonians, which restrains the arrival and rise to power of the Antichrist.

Figures who may have briefly assumed the role of the Katechon throughout history included Charlemagne and Klemens von Metternich.

“If anti-communism is the Katechon holding back communists trying to create a communist one-world state, then neoliberalism is anti-communism in a world without communists,” Thiel said.

In both San Francisco and Nashville, Thiel devoted a significant portion of his opening lecture to addressing “effective altruism”.

This ideology rests on the premise that human beings should always act to minimise existential risk to the species and maximise positive long-term impact.

Many effective altruists and affiliated groups are based in San Francisco and work on artificial intelligence research.

In Nashville, Thiel criticised their ideas. This stance reflects the fact that they have dominated much of the recent AI safety debate, showing Thiel’s concern over the growing influence of this group.

Thiel stated:

“One reason [the effective altruists’] strategy works, of course, is that an apocalypse is impossible to undo. You only have one planet. Even Greta [Thunberg] was right about that. … So you can’t just ignore the risks. But we must also take seriously that when you establish a near-totalitarian one-world government empowered to stop all dangerous scientific work, undoing that will not be easy either… There is no historical example suggesting this global warden would willingly surrender power. Effective altruist ideology has brainwashed a significant portion of the people working on AI.”

The remarks delivered by Thiel in his lectures on 28 September and on Monday provide a rare glimpse into the conservative tech billionaire’s shifting political priorities over time.

Thiel’s opposition to regulation is not new. That perspective is widely shared among Silicon Valley venture capitalists.

What distinguishes Thiel from his peers in the conservative tech sector is his decision to frame political disputes in religious terms while simultaneously attacking the leader of the Catholic Church.

This shift could reverberate across the political arena. Thiel was an early backer of President Donald Trump and served as a major financial sponsor of Vice President JD Vance’s transition from venture capital into politics.

Politico noted that Thiel’s attacks on the church could complicate matters for Vance, a Catholic convert.

Democrats positioning themselves for the 2028 presidential election have already begun targeting Vance over his ties to the billionaire investor.