P103news.today103Thu 05 Nov02:34
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Musk's $446m Republican midterm gamble backfires spectacularly
Elon Musk spent nearly $450 million backing Republican candidates in US midterm elections, only to see Democrats sweep to power.
Elon Musk spent an estimated $446 million supporting Republican candidates in US midterm elections, making him the single largest individual donor in the cycle, but his investment failed dramatically as Democrats won decisively. His preferred candidates lost key races, including Ken Paxton's Texas Senate bid and Governor Greg Abbott's re-election, both of which flipped to Democrats. Musk funnelled over $200 million into Texas alone, where his companies Tesla and SpaceX are headquartered. The results threaten his data centre expansion plans in Texas, which his backed candidates had supported; the winning Democratic candidates campaigned for tighter regulations on data centre development. Musk responded with jokes on X, writing 'Data centers in space looking pretty appealing right now' and 'Guess my election-interfering space lasers didn't work this time'. Shares of Tesla and SpaceX dropped following the results.
From 15 outlets:
NPR›
Summary written by AI from these reports. See news.today/ai
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