Elon Musk’s costly effort to influence the 2026 midterms failed to prevent Republican losses, exposing the limits of his wealth, political reach and control of X. He backed candidates with nearly half a billion dollars, including in Texas, where many of his companies operate, and urged voters to support Republicans. The election results came amid discontent with Donald Trump over the economy and the Iran war, as well as concerns about data centres’ effects on power and water supplies and about AI’s impact on jobs. Tesla and SpaceX also lost more than $100 billion in combined market value after the vote.
The political setback could bring greater scrutiny of Musk’s businesses, which depend on government contracts, subsidies, regulation and infrastructure, and are closely tied to US military operations. Lawmakers may examine Starlink’s role in Ukraine and reports that its service was interrupted there. Congress could also investigate what information Musk accessed during his brief stint leading the Department of Government Efficiency and whether it gave his companies an unfair advantage. The central challenge is that Musk’s political persona and partisan activism may undermine the cross-party support needed for his strategic ventures, from space exploration to autonomous transport. With polls showing that just over half of American adults view him unfavourably, the election suggests money and media influence cannot reliably override public opposition.
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