Musk's US$474 Million Political Donation Falls Flat as Democrats Retake Congress
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On 5 November 2026, the South China Morning Post business section reported that Musk had put in a record US$474 million in political donations, the vast majority of it backing the Republicans. With the Democrats retaking control of the US Congress in the midterm elections, this political bet failed to pay off as hoped. The report noted that Musk now faces a divided Washington intent on scrutinising his business empire, with the prospects of Tesla, SpaceX and their China ties drawing close attention. The report did not mention the specific allocation of the donations, nor did it set out the specific result figures of the midterm elections.
Generated by AI from reporting · updated 3 hours ago
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- 南華早報·商業Musk's US$474 Million Political Bet Falls Flat as Democrats Retake Congress, Focus Turns to Tesla and SpaceX Prospects
Musk spent a record US$474 million in political donations, overwhelmingly backing Republicans, but failed to get his way as Democrats retook control of the US Congress in the midterm elections. He now faces a divided Washington intent on scrutinising his business empire, with the prospects for Tesla, SpaceX and their China ties drawing close attention.
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