Tech billionaire and Department of Government Efficiency co-leader Elon Musk has injected $5 million into a super PAC supporting Republican Vivek Ramaswamy’s bid for governor of Ohio.
The donation, made in May, adds significant firepower to Ramaswamy’s already formidable campaign war chest as he prepares for a high-stakes general election matchup against Democrat Amy Acton.
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Ramaswamy, the biotech entrepreneur and 2024 presidential candidate who won the GOP primary in May, has positioned himself as an outsider focused on cutting taxes, spurring economic growth, and strengthening Ohio’s workforce.
The Ohio Chamber of Commerce Political Action Committee endorsed him this week, praising those exact priorities during a speech at Kimball Midwest.
The business group has backed previous Republican governors, including Mike DeWine and John Kasich.
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Ramaswamy has already demonstrated strong personal commitment by self-funding $25 million into his campaign — a record-setting move that helped drive total spending well past $28 million.
His campaign has poured resources into advertising and ground operations in what is shaping up to be one of the most expensive gubernatorial races in Ohio history.
The Musk contribution joins other major support for Ramaswamy-aligned efforts. Billionaire investor Jeff Yass has given at least $10 million — and reports indicate up to $20 million total — to a key pro-Ramaswamy super PAC.
New York financier Ross Stevens contributed another $5 million to the same group.
These large checks have helped super PACs like Victors not Victims and V-PAC amplify the candidate’s message across the state.
Ramaswamy and Musk share a history from their work on the federal Department of Government Efficiency, where they have been described as both friends and occasional rivals in the push to reduce waste and streamline operations.
The latest donation underscores Musk’s willingness to back candidates he believes will bring similar efficiency-focused leadership to state government.
Republicans’ fundraising advantage could grow even larger following the Supreme Court’s decision Tuesday, a ruling that comes as Democrats continue to face fundraising challenges ahead of the midterm elections.
Democrats contend that the court’s ruling, which allows political parties to coordinate more freely with candidates on campaign spending, could give Republicans a significant advantage by helping the GOP better compete in key battleground races where Democratic candidates have traditionally outraised their opponents.
Republicans already hold a fundraising advantage through the National Republican Congressional Committee and the National Republican Senatorial Committee.
The gap is even wider at the national party level, where the Republican National Committee has reported substantially more cash on hand than the Democratic National Committee.
Democrats argue that Tuesday’s Supreme Court ruling could further strengthen the GOP’s financial position by allowing political parties to coordinate campaign spending more closely with their candidates.
They contend the decision could help Republicans offset Democratic fundraising advantages in competitive races and stretch campaign dollars further, particularly in costly advertising markets where parties may now benefit from the same discounted advertising rates traditionally available to candidates.
The ruling prompted concern among Democratic strategists working on competitive Senate and House races across the country.
Brian Derrick, founder of the Democratic fundraising platform Oath, complained that the decision would “unequivocally” benefit the Republican National Committee by expanding its ability to coordinate campaign spending with GOP candidates.
“They’re gonna be able to deploy those funds in more highly-leveraged scenarios to make up for the gap in candidate funding,” Derrick said.
“It’s definitely a boost for the Republican Party in the midterms, and it’s a shame for the country overall,” he said.
Before Tuesday’s ruling, federal law limited how much political parties could spend in coordination with their candidates.
In House races, the coordination limits ranged from $63,600 to $127,200, while Senate limits ranged from $127,200 to nearly $4 million, depending on the state’s population.
After the high court’s ruling, however, spending is now unlimited.
This article may contain commentary which reflects the author’s opinion.
