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Elon Musk spent nearly $500 million on the midterms and lost big-time

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Elon Musk spent nearly $500 million on the midterms and lost big-time

The midterms are (mostly) behind us. We're still waiting on results from a bunch of races, including senate races in Mississippi and Alaska. Despite that, there are two undisputed facts. This was a hell of a great election for Democrats and a really bad one for "dark MAGA" acolyte Elon Musk. The Tesla CEO spent nearly $500 million to elect Republican candidates, according to FEC filings reported on by Forbes.

Musk was the election's single largest individual donor by a vast margin, dwarfing the second-place billionaire couple Dick and Liz Uihlein by more than a factor of three. He didn't seem to get a lot in return on his investment, which will likely result in some angry and bizarre posts on X throughout the coming days, weeks, months and years.

Much of his money was spent in his adopted home of Texas. All told, Musk funneled around $225 million to the region, according to a report by CNBC. The Lone Star State issued a stunning rebuke of Musk and his chosen candidates. A senate seat and the governorship both flipped blue, with huge margins. The same can be said of numerous house seats and a number of state congressional seats. Musk probably would've been better served spending that money on another car that jumps like a cricket.

Musk also sent lots of cash to a number of Super PACs and specific candidates throughout the country. He put his support behind Republicans in 106 House and Senate races.


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