https://www.live-feeds.com/feed/how-elon-musk-frittered-away-nearly-500-million-on-the-midterm-electionsContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/how-elon-musk-frittered-away-nearly-500-million-on-the-midterm-electionshttps://www.live-feeds.com/feed/how-elon-musk-frittered-away-nearly-500-million-on-the-midterm-elections#u190433Tue, 10 Nov 2026 08:01:44 +0000Elon Musk spent nearly half a billion dollars supporting Republican candidates during the midterm elections, only to see his political investments come up short as Democrats retook the House and Senate. Following the election results, Musk deleted several social media posts. Concurrently, his companies Tesla and SpaceX suffered a massive drop in market capitalization, falling by over $420 billion according to some reports, while other estimates peg his personal net worth drop at $113 billion to $120 billion. State Democrats in Texas are now pushing to rein in his business empire.Why it matters