Musk deletes election posts as businesses lose $120B
The gist
Tesla shares fell 3.3% and SpaceX 3.8% after Democrats swept the midterms, wiping over $120 billion, Bloomberg reported.
Musk had spent heavily on Republican races, then removed his 'Vote red today!' post.
How it unfolded
- Nov 2, 2026The New York Times estimates Musk spent about $224 million solely in Texas to stifle Senate candidate James Talarico's campaign.
- Nov 4, 2026Musk tweeted 'Vote red today!' on Tuesday morning; the post was later removed. Tesla shares fell 3.3 percent and SpaceX 3.8 percent after Democrats swept the Senate, House and governor races, with Bloomberg reporting losses above $120 billion.
- Nov 4, 2026Forbes reported Musk's pinned tweet urging followers to vote for Republican senators was taken down around the time Talarico declared victory. Talarico won by 13 points, the first Democrat to win a Texas Senate seat since 1988.
Key terms
- midterms
- US general elections held near the midpoint of a president's four-year term, when all House seats and about a third of Senate seats are contested.
- OpenSecrets
- An American nonprofit that tracks and publishes data on campaign finance and lobbying.
- Grok
- A generative AI chatbot developed by xAI, integrated with the X social network.
Source: Wikipedia