BENGALURU: As Republicans suffered a landslide defeat and Texas elected its first Democratic governor in more than three decades, one of the biggest losers of the US midterms was not on the ballot: billionaire Elon Musk.
The world’s richest man spent nearly half a billion dollars to back Republican candidates and keep Texas red – a state home to his automaker Tesla, rocket-to-AI company SpaceX and a planned chipmaking venture between the two.
Those bets unraveled as Democrats seized both chambers of Congress and Gina Hinojosa defeated Greg Abbott in the Texas governor’s race, in a stinging rebuke to US President Donald Trump, a close Musk ally whom the billionaire helped elect.
Musk, who urged his followers on X to vote Republican as recently as Tuesday, now faces a resurgent Democratic Party that he has spent years antagonizing.
