Elon Musk reportedly spent at least $474 million on the 2026 midterm elections, backing candidates who went on to lose by wide margins. CleanTechnica says the spending was concentrated largely in Texas, where Democrats made historic gains despite Musk’s efforts to influence the contests.
The article highlights James Talarico, a candidate Musk opposed. Talarico said, “Texas is not for sale,” and argued that the election showed political power belongs to voters. Musk reportedly spent at least $150 million to support Talarico’s opponent.
CleanTechnica suggests the election results could have an unexpected upside for Musk’s businesses. Democratic lawmakers are generally more supportive of electric vehicles and solar power, areas that are central to Tesla and Musk’s broader business interests. The article also notes that California’s Democratic-led government helped Tesla develop, while federal policies under Democratic administrations and Congresses provided support over the years.
The outcome may also carry risks for Musk and his companies. CleanTechnica says politicians Musk campaigned against could impose tighter oversight or regulation. However, it argues that policymakers more favorable to clean technology and less aligned with fossil fuels could ultimately benefit Tesla, despite Musk’s failed effort to shape the election results.
Sources: CleanTechnica.