Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms
Elon Musk saw his business empire take a heavy hit after the 2026 US midterm elections, with Tesla and SpaceX losing over $420 billion in combined market capitalization. Musk invested $445 million into boosting Republican campaigns and keeping Texas red, but the GOP faced stunning defeats at the ballot box. Investors dumped shares amid worries that Musk now faces intense regulatory scrutiny and investigations from empowered Democrats. Musk also deleted several of his midterm posts following the election losses, while his personal wealth dropped by about $90 billion in a week.
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- ✓ Elon Musk's Tesla and SpaceX lost over $420 billion in combined market capitalization following the US midterm elections.
- ✓ Musk gambled $445 million to boost Republican campaigns in the midterms.
- ✓ Elon Musk deleted his midterm posts after the election losses.
- ✓ President Donald Trump walked away without responding when asked by a reporter how it felt to be a loser as he departed the White House for Florida.
What changed
Stock values for Tesla and SpaceX plunged by over $420 billion following Republican losses in the US midterm elections.
Live updates
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Tesla and SpaceX Shed $420B in Market Cap After Midterms
Elon Musk saw his business empire take a heavy hit after the 2026 US midterm elections, with Tesla and SpaceX losing over $420 billion in combined market capitalization. Musk invested $445 million into boosting Republican campaigns and keeping Texas red, but the GOP faced stunning defeats at the ballot box. Investors dumped shares amid worries that Musk now faces intense regulatory scrutiny and investigations from empowered Democrats. Musk also deleted several of his midterm posts following the election losses, while his personal wealth dropped by about $90 billion in a week.
Why it matters
Musk made a massive financial wager on the Republican Party during the 2026 midterms, tying his political fortunes directly to conservative electoral success. The failure of those campaigns leaves his business ventures exposed to hostile legislative oversight. Market analysts point to investor anxiety over potential federal crackdowns as the primary driver behind the massive sell-off in Tesla and SpaceX stock.
What is confirmed
- Elon Musk's Tesla and SpaceX lost over $420 billion in combined market capitalization following the US midterm elections.
- Musk gambled $445 million to boost Republican campaigns in the midterms.
- Elon Musk deleted his midterm posts after the election losses.
- President Donald Trump walked away without responding when asked by a reporter how it felt to be a loser as he departed the White House for Florida.
Still unconfirmed
- Tesla and SpaceX lost up to $456 billion in combined market value after the US midterm elections.
What to watch next
- Democratic congressional committee announcements regarding investigations into Elon Musk's companies
- Further stock market performance and valuation tracking for Tesla and SpaceX
confidence 95%Sources used for this update (13)
- The New York Times — Opinion | Elon Musk’s Very Bad Night
- CNN — Musk bet big on keeping Texas red. What happens to his business empire now?
- The Boston Globe — The biggest loser of the 2026 midterms wasn’t Trump. It was Elon Musk.
- Reuters — Musk has little to show for his record spending on Republican campaigns in US midterms
- CNBC — Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms
- PBS — Elon Musk gambled $445 million to boost Republicans in the midterms. It came up short
- NPR — Elon Musk will face scrutiny from Democrats after midterms
- Forbes — Elon Musk Deletes Midterm Posts After Stunning Election Losses
- www.cnbc.com — Tesla, SpaceX stocks fall after 2026 midterms - CNBC
- ground.news — Trump walks away after reporter asks him how it feels to be a ‘loser’
- www.cnbctv18.com — Musk's Tesla and SpaceX crash, lose over $420 billion in ...
- finance.yahoo.com — SpaceX, Tesla Shed Over $420 Billion After GOP Losses
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