Musk has little to show for his record spending on GOP
Elon Musk spent nearly half a billion dollars on the US midterm elections, but the record expenditure yielded little for the world's richest man and leader of SpaceX and Tesla.
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LampLighter
Joined 2013/04/13Visited 2026/11/05
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... Just three of the 37 Republicans Musk backed for the House of Representatives won on Tuesday night, compared to 33 who lost. The remaining race had not been called by Thursday afternoon, though a Republican was running ahead in tallies so far. Of the seven Senate Republican candidates Musk backed, six lost and one race hangs in the balance. In that last race, Alaska, Democrat Mary Peltola was narrowly ahead with 78% of votes counted. In Texas, where SpaceX and Tesla are headquartered and where Musk plans a chipmaking venture, Musk also came up empty after spending almost $230 million on the Senate contest, $5 million on the governor's race, and $500,000 on the lieutenant governor vote. "A lot of Democrats see him as the Mr. Money Bags for their Republican opponents and that's certainly going to color how they're going to treat him personally," said David Hopkins, political science professor at Boston College. "He's particularly at risk because he's been part of the Trump administration and his companies have direct government involvement." ...
Of the seven Senate Republican candidates Musk backed, six lost and one race hangs in the balance. In that last race, Alaska, Democrat Mary Peltola was narrowly ahead with 78% of votes counted.
In Texas, where SpaceX and Tesla are headquartered and where Musk plans a chipmaking venture, Musk also came up empty after spending almost $230 million on the Senate contest, $5 million on the governor's race, and $500,000 on the lieutenant governor vote.
"A lot of Democrats see him as the Mr. Money Bags for their Republican opponents and that's certainly going to color how they're going to treat him personally," said David Hopkins, political science professor at Boston College. "He's particularly at risk because he's been part of the Trump administration and his companies have direct government involvement." ...
#1 | Posted by LampLighter at 2026-11-05 09:00 PM | Reply
@#1 ... his companies have direct government involvement ...
Yeah, there's that aspect.
Inside Elon Musk's Government Contracts builtin.com
... In many ways, Elon Musk's tech empire is built on government money. An analysis by The Washington Post estimates Musk and his businesses have received at least $38 billion in state and federal contracts, loans, subsidies and tax credits since 2003 " not including classified deals. And The Post estimates another $11.8 billion is coming in the next few years thanks to 52 active contracts. SpaceX alone holds $22 billion in government contracts as of 2024, according to CEO Gwynne Shotwell. Federal agencies like NASA, the Department of Defense and the National Reconnaissance Office rely on the aerospace giant to launch satellites, travel to the International Space Station and deliver broadband connectivity, among other critical services. At the same time, Musk -- who donated $288 million to President Donald Trump and other Republicans in the 2024 election -- recently stepped down from a short-lived role leading the Trump administration's Department of Government Efficiency, which was tasked with cutting government spending. After Musk's departure, his seemingly chummy relationship with the president devolved into an all-out beef after Musk criticized Trump's Big Beautiful Bill for increasing the national deficit. In the days that followed, Trump threatened to terminate Musk's subsidies and contracts. The exchange highlighted just how reliant SpaceX, Tesla and other Musk companies are on government funding. ...
An analysis by The Washington Post estimates Musk and his businesses have received at least $38 billion in state and federal contracts, loans, subsidies and tax credits since 2003 " not including classified deals. And The Post estimates another $11.8 billion is coming in the next few years thanks to 52 active contracts.
SpaceX alone holds $22 billion in government contracts as of 2024, according to CEO Gwynne Shotwell. Federal agencies like NASA, the Department of Defense and the National Reconnaissance Office rely on the aerospace giant to launch satellites, travel to the International Space Station and deliver broadband connectivity, among other critical services.
At the same time, Musk -- who donated $288 million to President Donald Trump and other Republicans in the 2024 election -- recently stepped down from a short-lived role leading the Trump administration's Department of Government Efficiency, which was tasked with cutting government spending. After Musk's departure, his seemingly chummy relationship with the president devolved into an all-out beef after Musk criticized Trump's Big Beautiful Bill for increasing the national deficit. In the days that followed, Trump threatened to terminate Musk's subsidies and contracts.
The exchange highlighted just how reliant SpaceX, Tesla and other Musk companies are on government funding. ...
#2 | Posted by LampLighter at 2026-11-05 09:03 PM | Reply
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