‘He basically gets to steer a political party’: Elon Musk is $474 million poorer post-election, but it may not have deterred his influence on 2028
“It’s not just about who wins,” one political spending expert said. “It's about setting the agenda and what types of issues we talk about.”
Elon Musk's $474 million investment in Republican candidates during the 2026 midterm elections did not yield the desired results, as the party suffered significant losses. Despite donating substantial sums to various Republican groups and candidates, Ken Paxton and Greg Abbott, both Republican Senate and gubernatorial nominees respectively, lost their campaigns.
Musk's influence on the party remains unclear, but some experts argue that while money alone does not guarantee victory, it can shape the topics discussed and pursued by the party. However, the impact of Musk's donations on the Republican party's future remains uncertain, as other factors such as potential investigations into his role in government and the leverage of subpoena powers by Democrats may affect his standing.
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