$474 Million Spent. Texas Still Went the Other Way.
Elon Musk reportedly poured at least $474 million into Republican political groups and candidates during the 2026 US midterm cycle nearly twice his spending ahead of the 2024 presidential election.
Around $200 million went toward Texas races, including support for Senate candidate Ken Paxton. But both Paxton and incumbent Governor Greg Abbott lost to their Democratic challengers.
Other reported contributions included:
$30M to the Congressional Leadership Fund.
$44M to other Republican groups and candidates.
Tesla and SpaceX shares also declined on Wednesday following the election results.
A reminder that campaign spending can amplify political influence, but it cannot guarantee voter support.
Even a $474M war chest can't buy a guaranteed result.
Elon Musk reportedly poured at least $474 million into Republican political groups and candidates during the 2026 US midterm cycle nearly twice his spending ahead of the 2024 presidential election.
Around $200 million went toward Texas races, including support for Senate candidate Ken Paxton. But both Paxton and incumbent Governor Greg Abbott lost to their Democratic challengers.
Other reported contributions included:
$30M to the Congressional Leadership Fund.
$44M to other Republican groups and candidates.
Tesla and SpaceX shares also declined on Wednesday following the election results.
A reminder that campaign spending can amplify political influence, but it cannot guarantee voter support.
Even a $474M war chest can't buy a guaranteed result.
