Elon Musk reportedly spent around $474 million backing Republican candidates in the US midterm elections. But Democrats made major gains, and the results were followed by a sharp fall in the share prices of Tesla and SpaceX. According to the figures cited in the report, the two companies lost around $420 billion in combined market value, while Musk’s personal wealth fell by nearly $90 billion. Could the Democrats’ growing influence in Congress also mean greater scrutiny of Musk’s business interests and government ties? Here’s why the election results matter for the world’s richest businessman.
#ElonMusk #Tesla #SpaceX
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