'Not A Bad Return On His Investment'—Bernie Sanders Says Elon Musk Spent $277 Million To Elect Trump And Made $154 Billion Since Election Day

U.S. Sen. Bernie Sanders (I-VT) took to X to highlight what he sees as a glaring issue of money in politics. He wrote, "Elon Musk spent $277 million to elect Donald Trump President. Since Election Day, he has become $154 billion richer. Not a bad return on his investment." The viral tweet, which amassed millions of views, underscores concerns about billionaire influence in elections and whether Musk's massive political spending has directly benefited his financial empire.

Elon Musk spent $277 million to elect Donald Trump President.

Since Election Day, he has become $154 billion richer.

Not a bad return on his investment.

— Bernie Sanders (@BernieSanders) February 4, 2025

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Musk's $277 Million Political Spending

According to Business Insider, Musk funneled most of his money—$239 million—into America PAC, a super PAC that spent heavily on pro-Trump canvassing, digital ads, and controversial voter giveaways. Another $20.5 million went to RBG PAC, which ran ads linking Trump's abortion stance to the late Supreme Court Justice Ruth Bader Ginsburg, a move that outraged her family.

He also gave millions to Republican-aligned PACs, including $10 million to the Senate Leadership Fund, $2.3 million to Sentinel Action Fund, and $1 million to Early Vote Action PAC, among others. There's speculation that he contributed even more through dark money groups, which aren't required to disclose donors.

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Musk's Wealth Skyrocketed After Trump's Win

By mid-December, Musk's fortune had jumped from $262 billion before the election to a peak of $486 billion, according to the Bloomberg Billionaires Index, fueled by a massive surge in Tesla TSLA stock. The Washington Post reported that Tesla shares rose 70% post-election, with investors betting that Trump's pro-business policies, deregulation efforts, and his close ties to Musk would benefit Tesla, SpaceX, and Musk's other ventures.

Trump even appointed Musk to co-chair the newly created Department of Government Efficiency, a move seen as a potential boost for Musk's businesses and potential conflicts of interest.

A Sudden $43 Billion Drop After Trump's Inauguration

However, since Trump took office, Musk's net worth has dropped by $43 billion, mainly due to the administration's new tariffs on China, Canada, and Mexico. Per Newsweek, Tesla's 5.2% stock drop on Feb. 3, wiped out nearly $15 billion of Musk's wealth in a single day. By the end of the week, his net worth fell further to around $412 billion.

See Also: Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'

Investors are worried that Trump's trade policies could raise Tesla's production costs, especially for battery materials like lithium and aluminum. China's potential retaliatory tariffs could also threaten Tesla's Shanghai Gigafactory and its growing EV market in the region.

Will Musk's "Investment" Pay Off in the Long Run?

While Musk's businesses stand to gain from deregulation under Trump, other policies—like ending the $7,500 EV tax credit and investigating Tesla's full self-driving technology—could hurt his bottom line.

Musk's massive election spending has already raised ethical concerns in Congress. U.S. Sen. Richard Blumenthal (D-CT) called it "an outrageous conflict of interest," while U.S. Sen. Ed Markey (D-MA) warned that Musk is "already getting a return on his investment in Trump."

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