Elon Musk gambled US$445 million to boost Republicans in the midterms and came up short
CTV News · The Associated Press ·
Elon Musk spent at least US$445 million in a gambit to help Republicans keep control of Congress, an amount roughly equivalent to someone on a $100,000 annual salary saving every penny for 4,400 years.
AUSTIN, Texas — Elon Musk spent at least US$445 million in a gambit to help Republicans keep control of Congress, an amount roughly equivalent to someone on a $100,000 annual salary saving every penny for 4,400 years.
To the world’s first trillionaire, it’s a pittance, but the billions of dollars’ worth of business his companies do with the federal government is not. And on Tuesday night, a Republican Party that had embraced Musk lost again and again, ceding control of Congress to a Democratic Party leery of the world’s richest person and keen to put his companies and his work at the Department of Government Efficiency under a microscope.
Nobody may have suffered bigger losses Tuesday than U.S. President Donald Trump. But few others had more on the line than Musk, who gambled big and came up holding the midterm’s worst return on investment. Democrats in Congress were already queuing to get their shot at Musk, with possible subpoenas and investigations.
Read the full story at CTV News · All coverage of this story