Elon Musk's preferred US midterm candidates, including Ken Paxton and Vivek Ramaswamy, lost almost everywhere; Musk spent $446M, a record for a non-candidate (Calder Mchugh/Politico)

Elon Musk's wealth failed to secure victory in Texas's midterm election despite spending over $445 million to support Republicans, making him the largest donor in the 2026 election cycle and American history. Musk, a self-proclaimed "trillionaire," funneled more than $168 million to super PACs backing Ken Paxton and his own America PAC, which spent $34.7 million in Texas.

Despite Musk's efforts, Democratic candidate James Talarico won by more than 12 points, becoming Texas' first Democratic senator since 1988 and flipping the governor's seat to Democrat Gina Hinojosa. The Democratic party's victories across the country were largely attributed to money, but in Texas, it didn't work as Musk had hoped.

Paxton received only $22.3 million in direct donations, while Talarico raised $146 million from voters. Musk's anti-transgender ads, costing between $15,000 and $20,000, focused on culture war issues rather than voters' concerns. Paxton's campaign received a boost from Musk's money, but Musk chose to operate behind the scenes, not taking on a surrogate role in the midterms.