How voter shifts in Texas helped elect a Democratic senator and governor
The BBC's Ros Atkins looks at the state's long track record of voting Republican and what was different in this year's election.
Elon Musk, one of the world's richest men, suffered a significant financial setback as his business empire braced for a potential Democratic wave following Texas flipping blue. The billionaire had poured nearly half a billion dollars into Republican candidates in the US midterms, aiming to maintain Texas' status as a red state. However, his efforts were in vain as Democrats secured both chambers of Congress and defeated incumbent Greg Abbott in the Texas governor's race.
Gina Hinojosa's victory marked a stinging rebuke to US President Donald Trump, a close ally of Musk who had received financial support from Musk. Musk, who had previously urged his followers on social media to vote Republican, now faces a resurgent Democratic Party that he had antagonized over the years.
The fallout from the midterm elections was felt in Musk's businesses. SpaceX, his rocket-to-AI company, saw its shares fall by 5.5 percent, while Tesla, his automaker, experienced a decline of 5.1 percent. These stock market reactions underscored the financial impact of the shift in political power, highlighting the ire Musk had garnered among Democrats.
The billionaire had even threatened retaliation on his social media platform after a report suggested Democrats were considering investigations into his companies if they emerged victorious in the midterms.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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