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Elon Musk's business empire braces for Democratic wave as Texas flips blue
Democratic wins could trigger new scrutiny of SpaceX, Tesla and X projects as Governor-elect Gina Hinojosa calls for a moratorium on data centers.
- 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.
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Total News Sources111
Leaning Left23Leaning Right12Center31Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 35%
C 47%
R 18%
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