Musk's $445 Million Midterm Bet Fails as Democrats Win Key Races

Elon Musk lost at least $445 million in his effort to boost Republicans in the midterm elections, as Democrats secured control of Congress and key Texas races, leaving his business interests facing potential scrutiny and investigations. Musk's spending included $158 million benefiting Texas Attorney General Ken Paxton, who lost his Senate race, and $5 million for Governor Greg Abbott, who was defeated. Democrats also won the Texas House, with candidates framing their campaigns against Musk's influence and tax breaks. Following the election, Tesla and SpaceX lost about $40 billion each in market value, while Musk's net worth dropped $45 billion. Democrats have signaled plans for subpoenas and investigations into his government work and business dealings.