A year ago, Elon Musk vowed to start his own political party. Now he's spending at least $100 million to back Republicans in the midterms

A year ago, the tech entrepreneur Elon Musk announced his intention to establish a new political party, the American Party, indicating a desire to disrupt the existing two-party system. This initiative was met with considerable public attention and speculation regarding its potential impact on American politics.

Now, with the midterm elections approaching, Musk is reportedly investing substantial financial resources, estimated at over $100 million, to support Republican candidates. This significant financial backing suggests a shift in his political engagement, moving from the idea of a new party to direct influence within an established one. The substantial amount dedicated to Republican campaigns highlights his considerable financial power and its potential to shape electoral outcomes.