Democrats Plan Probes Into Musk's Empire as Congress Shifts

Democrats are poised to take control of both chambers of the U.S. Congress, prompting plans to investigate Elon Musk's business empire, including SpaceX's government contracts and his role in federal job cuts. Tesla shares fell over 10% on November 5, with SpaceX dropping nearly 8%. Democratic lawmakers are preparing probes into SpaceX's contracts, Musk's mass firings while leading the "Department of Government Efficiency," and Starlink restrictions on Ukrainian military satellite use. Goldman Sachs warns of increased scrutiny of tech giants, reduced tax breaks, and forced grid upgrade costs. Democrats prioritize AI safety and regulation over the Republican expansionist approach. Musk donated $445 million to Republican campaigns but failed to offset voter anger over rising costs tied to the Trump administration's Iran war. He previously resigned from the government efficiency role in May after unpopularity surged. Texas's incoming Democratic governor, Hinojosa, plans to suspend data center permits and eliminate corporate tax breaks, potentially impacting Tesla and SpaceX's AI chip operations.