According to media reports including the Financial Times, Elon Musk, the world's richest man, became the largest donor to Republicans in the midterm elections, spending between $275 million and $446 million to maintain the Republican Party's control of Congress. Most of these expenses were directed to the state of Texas, Musk's current residence. Through political action committees, he poured large sums of money into supporting Republican candidates in the state. The massive investment comes as Musk has expanded his presence in Texas in recent years by moving personal residences, relocating Tesla and SpaceX headquarters and purchasing vast properties. However, the national defeat of the Republicans in the midterm elections and the poor results of his supported candidates in Texas turned this huge expenditure into a heavy loss for Musk; A decline whose effects were also reflected in the stock market of his main companies, Tesla and SpaceX.

According to media reports including the Financial Times, Elon Musk, the world's richest man, became the largest donor to Republicans in the midterm elections, spending between $275 million and $446 million to maintain the Republican Party's control of Congress. Most of these expenses were directed to the state of Texas, Musk's current residence. Through political action committees, he poured large sums of money into supporting Republican candidates in the state. The massive investment comes as Musk has expanded his presence in Texas in recent years by moving personal residences, relocating Tesla and SpaceX headquarters and purchasing vast properties. However, the national defeat of the Republicans in the midterm elections and the poor results of his supported candidates in Texas turned this huge expenditure into a heavy loss for Musk; A decline whose effects were also reflected in the stock market of his main companies, Tesla and SpaceX.