Elon Musk's business empire braces for Democratic wave as Texas flips blue
Democrats won Texas and key federal races, putting Musk-backed projects and deals under new scrutiny as Hinojosa targets data centers and state records.
- On Tuesday, Texas Governor-elect Gina Hinojosa ousted Governor Greg Abbott, delivering a significant political defeat to billionaire Elon Musk, who reportedly spent around $180 million on Texas Republican races.
- Aiming to protect his business interests, including Tesla and SpaceX, Musk poured nearly half a billion dollars into Republican campaigns to keep Texas red.
- Following the election results, SpaceX shares fell 3.8% and Tesla dropped 3.6% Wednesday, while Senate-elect James Talarico defeated Attorney General Ken Paxton by nearly 40 points in Cameron County.
- Governor-Elect Hinojosa, who declared 'Texas belongs to us' during her victory speech, now holds authority to implement a data-center moratorium affecting Musk's operations.
- While political science professor Brandon Rottinghaus notes Musk remains a 'cornerstone' of the regional financial empire, his political influence appears waning after the Democratic sweep.
37 Articles
37 Articles
Elon Musk's business empire braces for Democratic wave as Texas flips blue
As Republicans suffered a landslide defeat and Texas elected its first Democratic governor in more than three decades, one of the biggest losers of the US midterms was not on the ballot: billionaire Elon Musk.
DESPITE the loss, he still remains the richest man in the world.
Elon Musk spent $224 million to influence Texas Senate race - What Democrat win means for Tesla, SpaceX and data centers
The 2026 midterms delivered a major Democratic victory, including historic wins in Texas. Musk’s support for Republican candidates failed to prevent Democratic victories in Senate and governor’s races. The results could affect his Texas-based businesses and plans to expand AI infrastructure there.
Elon Musk’s net worth drops $33.5 billion as Democratic majorities loom
Elon Musk, the world’s wealthiest person, saw his net worth fall by $33.5 billion on Wednesday as investors sold off shares in his companies in anticipation of the incoming Democratic majorities in Congress. Musk, the CEO and largest shareholder of Tesla and SpaceX, saw the total value of his wealth decline by 3.7% in just […]
"They'll take on Elon Musk, I guarantee it." Florida Governor Ron Desantis said that after the Democratic Attorney General came to power in Texas, the American billionaire could face problems because of his business in the..
"They'll take on Elon Musk, I guarantee it. " Florida Governor Ron Desantis said that after the Democratic Attorney General came to power in Texas, the American billionaire could face problems because of his business in the state. "I'm...
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