Elon Musk's $470 million bet on Republicans has raised questions over Tesla and SpaceX's Texas expansion after Democrats won the US midterms. Investors fear tighter data-centre regulations could delay projects, increase costs and complicate a potential merger.
Texas flipped to the Democrats in the 2026 midterms, according to ABC News (Australia), while CBS News reported that James Talarico won a Texas Senate race and said the result sent a message to Elon Musk. BBC News reported that a Musk political action committee gave $47 million to Ken Paxton’s campaign. Reports put Musk’s overall election spending at different totals: WKBW cited $474 million, while Winnipeg Free Press reported $445 million; the sources do not explain the discrepancy.
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