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Elon Musk

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Politics

US midterms: Elon Musk fails $440 million bet as Republicans lose

The 2026 midterm elections were the most expensive on record, with nearly 12 billion dollars spent during the campaign. Tech tycoon Elon Musk was by far the largest individual donor ever, injecting over 440 million dollars of his money to support the GOP. Tuesday's resounding Democratic victory showed the limits of his money, power and influence.

Politics

Musk-backed candidates lose US midterms despite financial backing

Shares of Tesla and SpaceX dropped after the Democratic party swept to power in America's midterm elections. Their founder, tech titan Elon Musk, poured over $440 million into Republican candidates and causes, the single biggest campaign donor in the election cycle. But his investment fell flat, as his preferred candidates lost races in Texas, where he has put down roots. We take a closer look.

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