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Elon Musk Deletes Smug Election Posts After They Backfire and His Businesses Tank by $120 Billion
Futurism • • nation
Key Points:
- Elon Musk spent $447 million supporting Republican candidates in the midterm elections, but nearly all of this investment failed as Democrats won control of the Senate, House, and key governorships, including in Texas.
- Following the election results, shares of Musk’s companies SpaceX and Tesla dropped significantly, with Tesla falling 3.3% and SpaceX 3.8%, resulting in a combined loss of over $120 billion in market value.
- Musk’s personal net worth decreased by an estimated $30 billion, largely due to the decline in his companies’ stock prices after the Democratic victories.
- In response to the election outcome, Musk deleted several pro-Republican tweets on X, including calls to vote red, and made light of the situation with self-deprecating humor while quickly shifting focus back to promoting his businesses.
- Despite the heavy financial and political setback, Musk appears to be moving past the election losses, minimizing public commentary on the results and continuing his usual social media activity.
