Musk's $445M Midterm Bet Pays Off in Just 3 Wins

Elon Musk spent nearly half a billion dollars on the U.S. midterm elections, but only three of the 43 candidates he backed have won so far. Musk spent $445 million on federal races alone, according to OpenSecrets, with most going to Texas Senate candidate Ken Paxton, who lost to Democrat James Talarico. Seven races remained undecided Wednesday evening, with Democrats leading in the counts. Talarico, who compared his victory to David defeating Goliath, said the result sent a message to billionaire donors that power belongs to the people. Democrats have vowed investigations into Musk and his companies, while Tesla and SpaceX stocks fell 3.9 and 3.3 percent Wednesday.