Elon Musk Spent $400M on Republican Super PACs During Midterms
His spending on Republican super PACs and Texas races backfired as Democrats captured both chambers and Musk’s net worth fell $45 billion, Forbes said.
- 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.
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175 Articles
Elon Musk spent $474M trying to save Congress for Republicans. Here’s how grassroots candidates proved money can’t buy elections.
Elon Musk spent an estimated $474 million trying to keep Congress Republican. On Wednesday morning, he joked that his “election-interfering space lasers didn’t work this time.” Neither did the money.There will be plenty of hot takes about Democratic strategy this week. I don’t buy most of them. This election wasn’t won in a war room. It was won by Americans who are fed up with the Trump agenda. Roughly three-quarters of voters told exit pollster…
Elon Musk spent millions on elections for Republicans and has little to show for it
For further reading: Justice served: Fired by Musk, now they run for Congress Despite voter suppression, Black voters were central to midterm election victories MAGA swept aside in massive Arizona flip
DEVASTATED and furious over Donald Trump's debacle in the recent midterm elections for Congress, the American online far right is experiencing an unprecedented meltdown.
The richest man in the world donated $446 million to Republican candidates and groups. Since the vote, his shares in Tesla and SpaceX have devalued $71.6 billion by Friday, but today the titles have begun to recover in force.
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