NEW YORK, January 23. /TASS/. Billionaire Elon Musk is returning to big-time politics and is ready to finance the Republican campaign for the 2026 midterm elections in the United States, The Wall Street Journal reported.

According to the publication, the world’s richest man has already allocated $10 million to a Republican Senate candidate, and has buried the hatchet with US President Donald Trump.

In recent weeks, Musk's political team has held meetings with potential contractors to work on digital campaigns and messaging.

According to the newspaper, in 2024, Musk spent almost $300 million in support of Trump and the Republican party, becoming the largest public political donor in the United States. The current rapprochement, according to the newspaper, is seen as a pragmatic alliance that allows Musk to maintain a channel of influence over the administration, and the White House to gain access to its resources and technical infrastructure.

In 2025, Musk headed the Department of Government Efficiency (DOGE), serving in a civil capacity on a voluntary basis. He and Trump became very chummy around this time. But relations between the president and the businessman soured for a number of reasons, including those related to Musk's business interests.

After Musk left the civil service, the parties had a very public feud on social media on June 5. Musk said that without his support Trump would not have won the November 2024 elections, proposed impeaching him anew, criticized a key bill on government spending and import duties imposed by the president, and predicted a recession for the American economy. Trump called Musk crazy and accused him of not taking his duties in DOGE seriously enough. The president also threatened to terminate government contracts with Musk's companies, including SpaceX. Musk later backtracked on his harsh statements about Trump.