Musk's midterm gamble fails to deliver

The billionaire’s massive election spending failed to pay off, with several candidates he backed with hundreds of millions of dollars going down to defeat.

Elon Musk was the biggest political donor in US history, excluding candidates who have largely financed their own campaigns, according to The New York Times.

His contributions have reached an eye-watering $474 million.

That is despite Musk’s earlier promise to spend “a lot less” on politics after the 2024 election.

Much of that money went to Republicans. Since July, Musk has donated about $384 million to GOP groups, with Texas alone receiving more than $200 million. And the final tally could be even higher: federal records cited by the NYT only run through October 14.