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Elon Musk invested nearly $500 million to support Republican candidates in the midterm elections, but faced significant stock declines for Tesla and SpaceX after Democrats secured major victories. Tesla shares dropped over 6%, while SpaceX's fell 5.6%, raising concerns about potential investigations from the newly Democratic-controlled Congress. Musk's substantial donations, primarily in Texas, were aimed at supporting candidates like Ken Paxton, who ultimately lost. Despite these political expenditures, Musk's overall wealth remains largely unaffected, estimated at $898 billion. He humorously commented on his political losses and the future of his companies on social media.
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