Jakarta, ThedailyID — Tesla and SpaceX CEO Elon Musk has suffered a major political setback after Republicans lost control of Congress in the 2026 US midterm elections. Musk reportedly spent at least US$474 million, or approximately Rp8.5 trillion, supporting candidates from President Donald Trump’s Republican Party.
According to CNBC, this represents the largest amount ever donated by an individual during an election cycle. However, the massive financial backing failed to secure victories for many of the candidates Musk supported.
Nearly half of his reported spending, approximately US$224 million, went toward political races in Texas. The state is home to several of Musk’s major business operations.
Musk backed Republican candidates Ken Paxton for the US Senate and Greg Abbott for governor. However, both candidates lost to their Democratic challengers, marking a significant setback for his political efforts in the state.
Democrats also secured major victories across the country, taking control of both chambers of Congress. Their gains extended to Texas, where Democratic candidates ended decades of Republican dominance in several major races.
Meanwhile, Musk’s political action committee, America PAC, spent nearly US$87 million across 44 federal races. Preliminary results reported on Wednesday, November 4, showed that 29 candidates backed by Musk had lost, while only three had won. The remaining 12 races had yet to produce confirmed results.
The outcome highlights the limits of Musk’s financial influence in American elections. Despite becoming one of the largest political donors in US history, his substantial contributions did not translate into victories for most of the candidates he supported.
Musk’s political spending also comes as Democrats prepare to take control of Congress. The shift could bring greater scrutiny of government policies and business interests connected to the billionaire’s companies.
