Elon Musk gambled $445 million to boost Republicans in the midterms. It came up short
Nobody may have suffered bigger losses Tuesday than President Donald Trump. But few others had more on the line than Musk, who gambled big and came up holding the midterm's worst return on investment.
Elon Musk spent approximately $445 million in an attempt to aid Republican candidates in the recent midterms, an investment equivalent to a $100,000 salary being saved for 4,400 years. Although the money is a small fraction of his wealth, his companies generate billions in revenue from the federal government. On Tuesday, the Republican Party, which had supported Musk, suffered losses, ceding control of Congress to the Democrats.
This was the most significant defeat for Republicans in recent history. President Donald Trump, who faced significant losses, and Musk both had the most to lose in the election. Democrats quickly sought to capitalize on Musk, with potential subpoenas and investigations. Musk joked on X (his social media platform) that his "space lasers" did not work this time.
Musk faced new challenges in Texas, where he had several companies and his gubernatorial re-election bid was unsuccessful. Democrats highlighted Musk's tax breaks and grants for his companies and his relationships with Republican elected officials in their campaigns. In Texas, slightly more than half of voters expressed a negative opinion of Musk.
Written by urgent.news from PBS NewsHour's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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