Elon Musk Responds After His Record $474 Million Bet on Republicans Ends in Blowout

Elon Musk responded with jokes on X after Democratic victories ended his high-spending effort to elect Republicans in the US midterms. The results included Democrats retaking both chambers of Congress and a historic change in Texas, where Republicans had held the governorship and a Senate seat.

Musk spent at least $474 million on Republican candidates, a record for an individual donor in a US election cycle, with particular attention to Texas. Tesla and SpaceX shares fell about 6 per cent in early trading; 18 Musk-backed candidates in lower-level races won. His posts referred to a debunked claim about Starlink and election results, and to SpaceX’s proposed orbital AI data centres. Musk’s wealth was estimated at about $898 billion.