Elon Musk Spent $400M on Republican Super PACs During Midterms
Musk spent at least $474 million to help Republicans, but Democrats won key races and gained control of Congress, according to campaign finance records.
- On Tuesday, Elon Musk's $474 million election effort failed as key allies Texas Republican Attorney General Ken Paxton and Governor Greg Abbott lost their races.
- Musk's investment aimed to secure favorable business conditions for data centers in Texas while he aligned with Republicans against what he termed the "woke mind virus."
- Democrat James Talarico defeated Paxton in the Texas Senate race by 12 points, with Talarico and Democrat Gina Hinojosa framing the contest as billionaires versus everyday Texans.
- Market values for Tesla and SpaceX dropped about $40 billion each on Wednesday, as investors worried about potential congressional investigations regarding Musk's work at DOGE.
- Democrats now hold the Texas legislature and Congress, subjecting Musk's business dealings—including his $1.7 billion property tax break—to potential legislative scrutiny under incoming Democrat Gina Hinojosa.
76 Articles
76 Articles
Elon Musk gambled $445 million to boost Republicans in the midterms. It came up short
Nobody may have suffered bigger losses Tuesday than President Donald Trump. But few others had more on the line than Musk, who gambled big and came up holding the midterm’s worst return on investment.
Elon Musk spent almost half a billion dollars in the US midterm elections, but this record spending did not bring any major results for the richest man in the world and the head of SpaceX and Tesla. And according to foreign media, according to Telegraph, only three of the 37 Republican candidates that Musk supported for the House of Representatives won on Tuesday evening, while 33 others lost. The result for the remaining race had not yet been d…
Elon Musk Spent Almost Half a Billion Dollars on the Midterms, and Almost All of His Candidates Lost.
Tech billionaire Elon Musk spent nearly $445 million attempting to secure Republican victories in the 2026 midterm elections, only to watch the overwhelming majority of his preferred candidates lose.
The Washington Post
Elon Musk gambled $445 million to boost Republicans in the midterms and came up short
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