‘He basically gets to steer a political party’: Elon Musk is $474 million poorer post-election, but it may not have deterred his influence on 2028

Elon Musk’s nearly half-a-billion dollar bet on Republican midterm victories is a day late and many dollars short, but whether the world’s richest person’s political investments were all for nought remains to be seen. The tech billionaire donated at least $474 million to Republican candidates ahead of the 2026 midterm elections, nearly twice what he donated ahead of the 2024 presidential election. That sum included around $200 million to election efforts in Texas alone. Yet Musk had little to show for it: Republican Senate nominee Ken Paxton and Gov. Greg Abbott were both trounced by Democratic opponents.

Source: Fortune Crypto