Bernie Sanders Turns 'Oligarch' Charge On Elon Musk, Slams $366 Million Republican Funding

(MENAFN- Live Mint) US Senator Bernie Sanders has accused billionaire Elon Musk of promoting an 'oligarchy' through his massive political spending, targeting the SpaceX CEO over reports that he is investing $366 million to help Republicans maintain their hold on Congress in the upcoming US midterm elections.

Sanders slammed Musk for allegedly using his vast fortune to shape the country's political landscape and called for an end to the growing influence of billionaires.

In a post on X, Sanders connected Musk's political contributions with the sharp rise in his wealth after US President Donald Trump' s election victory last year. The senator claimed that the financial gains Musk had made since Trump's return to power had not stopped him from spending even more money to support Republican candidates.

"Elon Musk spent $290 million to elect Trump. It paid off. Since his election, Musk got $696 billion richer & became the world's 1st trillionaire. But that's not enough. Now, Musk is spending $366 million to keep Republicans in control of Congress. STOP MUSK. STOP OLIGARCHY," Sanders said.

How much is Musk spending on US midterm elections?

Musk's financial backing of Republican candidates has come into focus as political parties gear up for the US midterm elections. According to a report by The New York Times on Monday, Musk has contributed $276 million since July, of which $158 million went to a super PAC supporting Republican Senate candidates. This has made him the biggest individual political donor so far this year.

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America PAC spokesman Andrew Romeo defended the contributions, telling The New York Times, "These robust investments have allowed the GOP apparatus to get its message out so Republicans can have a fighting chance to defy history."

Musk alleges Indian business interests are blocking Starlink

Sanders' remarks come against the backdrop of Musk's recent criticism of India's business environment, particularly over the proposed entry of his satellite internet venture, Starlink, into the country's telecommunications market.

Musk had alleged on X that influential business groups were preventing Starlink from entering India to safeguard their existing market positions. His comments came in response to a discussion about the potential need for the satellite internet service in the country.

"Unfortunately, we (Starlink) are being blocked by certain oligarchs in order to maintain their monopolistic chokehold on the Indian people. You can guess who they are... This is a crime against the people of India," Musk stated.

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The Ministry of Communications, meanwhile, has defended India's regulatory framework, describing the authorisation process for satellite communication services as fair and non-discriminatory. It has stressed that operators must fulfil the prescribed security obligations before moving ahead with subsequent stages of approval.

"The Government has put in place a fair and non-discriminatory authorisation framework for all telecommunication services, including satellite communication services," the Ministry said in a statement.

The Ministry further said that authorisations had been issued to three global mobile personal communication by satellite service providers operating through non-geosynchronous satellite orbit technology. Security evaluations of all three licensees are currently underway.

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It added that operators must establish their compliance with security requirements to protect users and their data. The allocation of spectrum can be taken up after the necessary assessments have been completed.

Musk's allegations that powerful Indian business interests are attempting to restrict competition have also brought his own political activities in the US into focus.

Although the billionaire has accused unnamed business groups in India of using their influence to maintain market dominance, his reported financial contributions to Republican campaigns have raised questions about the role of wealthy individuals in shaping American politics.

Sanders has repeatedly raised concerns about the disproportionate political influence that billionaires can exercise through their financial resources.

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