Elon Musk has become the largest individual donor to Republican campaign groups heading into next year’s midterm elections, the Financial Times (FT) reported on Friday, despite a public rift with former US President Donald Trump and mounting political contradictions.

According to half-year filings released Thursday by the US Federal Election Commission, the Tesla and SpaceX CEO donated $5 million each to the two leading Republican Super PACs supporting House and Senate candidates on June 27.

The contributions came just days before Musk publicly floated the idea of launching the "America Party."

Musk’s political action committee, America PAC, has also seen its funding diminish significantly. Having contributed $45 million to the PAC during the election cycle, most of the funds were spent supporting Republican candidates, most notably Brad Schimel, a conservative state supreme court candidate in Wisconsin who lost by a ten-point margin.

As of the end of last month, America PAC had less than $200,000 in available funds.

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Musk-Trump rift reaches breaking point

According to FT, the surge in donations to Republican-aligned groups comes amid deepening tensions between Musk and Trump. The fallout escalated after Musk publicly criticized the White House’s signature tax and spending legislation as "pork-filled" and alluded to Trump’s alleged past ties to the late convicted sex offender Jeffrey Epstein.

In retaliation, Trump reportedly threatened to cancel federal contracts with Musk’s companies, including SpaceX and Starlink, and even suggested the billionaire could face deportation. The dispute came just months after Musk spent over $250 million backing Trump’s reelection campaign.

In early July, Musk announced the formation of the "America Party," declaring his intent to support candidates opposing Republicans over the next 12 months. However, no formal organizational steps have been taken to register the party at either the state or national level.

Trump has expressed dismay over Elon Musk's political ambitions, saying he watched with sadness as his former ally went "off the rails" by pursuing plans to form a new political party.

"I am saddened to watch Elon Musk go completely ‘off the rails,’ essentially becoming a TRAIN WRECK over the past five weeks. He even wants to start a Third Political Party, even though they have never succeeded in the United States. The one thing Third Parties are good for is the creation of Complete and Total DISRUPTION & CHAOS," Trump said in a post on Truth Social.

Despite the announcement, Musk’s substantial financial contributions continue to support Republican campaigns, raising questions about the direction of his political strategy.