Musk's record $500M midterm spending yields few wins

Elon Musk spent nearly half a billion dollars on US midterm elections, but his record expenditure yielded minimal results, with only three of 43 Republicans he backed for the House winning and six of seven Senate candidates losing. Democrats retained control of Congress, and Musk's investments failed in key areas, including Texas, where he spent $230 million on the Senate race and backed losing candidates for governor and lieutenant governor. His companies' shares fell on investor concerns about increased scrutiny. Democrats, who view Musk as a symbol of wealthy influence, plan investigations into his businesses and legislation to close the "Musk loophole" allowing unlimited personal campaign spending. Incoming Texas Governor Gina Hinojosa has also signaled challenges to his state relationships.