Elon Musk funneled $474 million into Republican super PACs for Tuesday’s US midterms. Polling estimates suggested that about 98% of the money went to losing candidates, while Wired put the figure at 99%. His America PAC received roughly $216 million, the Senate Leadership Fund $168 million and the Congressional Leadership Fund $30 million. In Texas, Musk directed at least $225 million to candidates, including Ken Paxton, who lost to Democrat James Talarico. Tesla and SpaceX subsequently declined, cutting Musk’s net worth by about $33.5 billion in one day as investors priced in political risk.
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