Musk Threw $445 Million Down the Drain Supporting Republicans – Reuters

Billionaire Elon Musk spent at least $445 million on the U.S. federal midterm elections, but his massive financial contributions did not secure the expected victory for the Republicans. Of the 43 candidates for the House of Representatives supported by the businessman, only three won, while 33 lost their races. 

Among the Senate candidates, six out of seven Republican nominees suffered defeats. Musk also saw disappointing results in Texas, where he spent nearly $230 million on the Senate race and over $5.5 million on the governor and lieutenant governor races. 

The massive donations drew a negative reaction from the U.S. Democratic Party, which announced its intention to launch an investigation into the businessman’s companies, as a result of which, amid fears of increased congressional scrutiny, SpaceX and Tesla shares fell by 3.9% and 3.3%, respectively.

Source: Reuters.

The U.S. Senate Committee on Foreign Relations is preparing a major investigation into the use of the Starshield satellite system in Ukraine. As part of this initiative, American billionaire Elon Musk, among others, has been instructed to preserve all relevant documents.

Elon Musk joked on social media platform X following the Republican Party’s defeat in the U.S. midterm elections. He wrote that his “space lasers for election interference” didn’t work this time.