Is Elon Musk stepping in to help Donald Trump? The billionaire owner of companies including Tesla and SpaceX appears ready to support Republicans in the upcoming midterm elections with a major financial contribution, similar to his backing during the 2024 presidential campaign that helped return the tycoon to the White House and resulted in the defeat of Democratic candidate Kamala Harris, who had run in place of outgoing president Joe Biden.

According to Axios, Musk is reportedly reactivating his super PAC (America PAC), which in 2024 raised and spent more than $260 million to support the GOP in Trump’s election. The report says the entrepreneur may be prepared to write a substantial check to prevent the Republican administration from emerging weakened after the forthcoming midterms, contests that could reshape U.S. political balances.

After the 2024 elections, Trump appointed Musk to lead the “Doge” initiative, a department created to improve efficiency and cut spending. That early cooperation was short-lived: Musk soon left the role and began openly criticizing the president’s actions. Relations now appear to have improved, and the situation could shift again.