Billionaires pour millions into US midterms, but money fails to save Republicans America's richest political donors spent staggering sums backing Republicans in the Nov. 3 midterm elections, only to see their candidates suffer major defeats, The Washington Post reports. Elon Musk alone poured more than $150 million into the Texas Senate race to support Republican Ken Paxton, who ultimately lost. Republican groups also launched massive spending sprees in the last week of Senate races in Michigan, Ohio, Texas and Iowa. Democrats won four. The defeats came as voters expressed frustration over rising living costs, Trump's tariffs and economic fallout from the war with Iran. According to the newspaper, billionaires were among the biggest losers in the election, despite their huge financial contributions. substack | talk.

Billionaires pour millions into US midterms, but money fails to save Republicans America's richest political donors spent staggering sums backing Republicans in the Nov. 3 midterm elections, only to see their candidates suffer major defeats, The Washington Post reports. Elon Musk alone poured more than $150 million into the Texas Senate race to support Republican Ken Paxton, who ultimately lost. Republican groups also launched massive spending sprees in the last week of Senate races in Michigan, Ohio, Texas and Iowa. Democrats won four. The defeats came as voters expressed frustration over rising living costs, Trump's tariffs and economic fallout from the war with Iran. According to the newspaper, billionaires were among the biggest losers in the election, despite their huge financial contributions. substack | talk.