<p>The tech billionaire set spending record as he poured $446m into campaigns for failed Republican candidates</p><p><a href="https://www.theguardian.com/technology/elon-musk">Elon Musk</a> set a <a href="https://www.theguardian.com/us-news/2026/oct/13/elon-musk-political-donor-midterm-elections">record</a> for election spending this year after pouring nearly half a billion dollars into backing <a href="https://www.theguardian.com/us-news/republicans">Republicans</a> in the <a href="https://www.theguardian.com/us-news/us-midterm-elections-2026">US midterm elections</a>. It turned out to be a poor investment.</p><p>The SpaceX and Tesla CEO <a href="https://www.theguardian.com/us-news/ng-interactive/2026/oct/31/elon-musk-midterms-spending-visualized">contributed at least $446m</a> to Republican-aligned Super Pacs and groups over the course of the elections, specifically targeting several key <a href="https://www.theguardian.com/us-news/2026/nov/03/democrats-senate-republicans-midterms-trump">Senate races</a> in an effort to help the Trump administration retain Republican control of Congress. He outdid his own 2024 spending of nearly $290m. Yet as Democrats <a href="https://www.theguardian.com/us-news/2026/nov/04/democrats-house-midterm-elections-results">swept to power</a> across the country on Tuesday night, it became clear that Musk would get nearly nothing in return for his hundreds of millions in spending.</p> <a href="https://www.theguardian.com/technology/2026/nov/04/elon-musk-midterm-spending-analysis">Continue reading...</a>