Some news this week about Elon Musk reminded me of my rule on political coincidences: I don't believe in them.

Axios on July 29 reported that Musk is reviving his political action committee, America PAC, with a "huge investment" to drive Republican voter turnout in November's midterm elections. The New York Times then confirmed that Musk was looking to shell out $100 million to $120 million on that effort.

Musk got some good news from the U.S. Space Force on the same day as the revival of America PAC, which with Musk spent nearly $290 million in 2024 to help President Donald Trump win a second term and assist Republicans in taking control of Congress. His company, SpaceX, had just landed a $1.6 billion government contract to launch 18 rockets.

SpaceX made a huge stock market splash when the company went public in June, making Musk the first trillionaire. But the stock price plummeted back to earth after that, until the contract news gave it new thrust in the market.

Think these events are unrelated? I seriously doubt it.

Elon Musk's PAC seems to have 'duped' supporters

But Republicans eager for Musk's money to win an edge in the midterms – currently tilted toward Democratic wins in Congress – would be wise to show some caution. America PAC's 2024 efforts are still hung up in legal battles two years later. And one of those lawsuits might get tangled up in the elections.

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