Elon Musk’s nearly half a billion dollars in midterms spending was a flop
The tech billionaire set spending record as he poured $446m into campaigns for failed Republican candidates Elon Musk set a record for election spending this year after pouring nearly half a billion dollars into backing Republicans in the US midterm elections. It turned out to be a poor investment. The SpaceX and Tesla CEO contributed at least $446m to Republican-aligned Super Pacs and groups over the course of the…
Key points
- Elon Musk spent at least $446m backing Republicans in the midterms, a record for election spending.
- Democrats won all five Senate races where Musk's America Pac spent the most.
- Democrats also took the Texas Senate race, governor's office and likely the state house.
Elon Musk set a record for election spending in the US midterms, contributing at least $446m to Republican-aligned Super Pacs and groups, The Guardian reported. The SpaceX and Tesla CEO outdid his own 2024 spending of nearly $290m, targeting key Senate races to help the Trump administration keep Republican control of Congress.
The spending produced little in return. Democrats won every one of the five Senate races where Musk's America Pac spent the most on Republican candidates, and Democrats swept to power across the country on Tuesday night.
Losses in Texas
In Texas, where Musk's empire is based and where he directed most of his political efforts, Republicans lost the Senate race and the governor's office and are expected to give up control of the state house. America Pac spent at least $28m on anti-Talarico ads and messaging alone in the Senate contest between Republican Ken Paxton and Democrat James Talarico.
Musk, who had spent months posting attacks on Democrats and amplifying election conspiracy theories on X, was unusually quiet on election night. He jokingly posted "Data centers in space looking pretty appealing right now," but was otherwise largely silent on the results.
We just proved that all the money in the world is no match for the people of Texas
— James Talarico
What Talarico said
After his commanding win, senator-elect Talarico referenced Musk in his victory speech. "We just proved that all the money in the world is no match for the people of Texas," he said, adding that a message had been sent to every billionaire mega-donor.
Senate races in Michigan, Maine, Ohio and Iowa also went to Democratic candidates after America Pac spent tens of millions supporting Republican campaigns. The article notes Musk will soon face a House, Senate and Texas government filled with Democrats who have vowed tougher scrutiny of tech and his operations.
