Billionaire Elon Musk spent nearly half a billion dollars backing Republican candidates in the 2026 midterm elections, including efforts to keep Texas red. Democrats won, seizing both chambers of Congress and electing Gina Hinojosa as Texas governor, defeating Republican Greg Abbott. Stock prices for Musk's companies SpaceX and Tesla declined following the results.
Where
Statewide
When
November 2026
Sources
Reported by 3 outlets
Taxes and money
The sources don't state an effect on taxes. They do state these figures.
Campaign spending by Musk to back Republican candidatesnearly half a billion dollars2Who pays or receives it: Elon Musk
Who's involved
Elon MuskBillionaire who spent money backing Republican candidates
Gina HinojosaDemocrat elected as Texas governor
Greg AbbottRepublican defeated in Texas governor race
James TalaricoNewly elected U.S. Senator from Texas
Ken PaxtonRepublican candidate Musk spent heavily against
Robert GarciaIncoming House Oversight Committee chair
Jake DollarhideCEO of Longbow Asset Management
The facts
Shares of SpaceX fell 5.5 percent and Tesla fell 5.1 percent following election results.2
Democrats won both chambers of Congress in 2026 midterm elections.2
Hinojosa sued to obtain emails between Musk and former governor Abbott.2
SpaceX's AI data centers near Memphis are named Colossus and Colossus II.2
Who said what
These are statements and claims made by the people involved. They are reported, not verified.
Musk Urged followers on X to vote Republican as recently as Tuesday before the election.2
Jake Dollarhide, CEO of Longbow Asset Management Democratic sweep of Congress would put regulatory pressure on AI and tech sectors.2
Hinojosa Called for immediate halt to new data center projects and end to tax breaks.2
Hinojosa Dismissed Abbott's efforts to rein in data centers as political theater.2
Robert Garcia Told Republicans and allies on Tuesday evening to lawyer up.2
How they headlined it
The same event, as each outlet put it. Marked words appear in only one outlet's headline.
How Trump lost control of Congress and Musk’s Texas businesses brace for blue wave: Morning Rundown
These outlets were found through Google News headlines. Google decides which outlets appear there, and they lean mostly one way, so this sheet can only be as balanced as the reporting it was built from. Leanings are AllSides Media Bias Ratings.
Gina Hinojosa won election as Texas governor and another Democrat won U.S. Senate from Texas for the first time since 1988 and 1990 respectively. Gov.-elect Hinojosa stated she will maintain a freeze on new data center authorizations ordered by outgoing Governor Greg Abbott.
$nearly nine million dollars for campaign contributions
Gina Hinojosa, Governor-elect; Talarico, U.S. Senate-elect (first name not given); Jorge Renaud, Voter and 5 more
Texas senator-elect James Talarico made a surprise appearance on Saturday Night Live's cold open, interrupting a sketch about President Donald Trump's midterm loss. Comedian Druski hosted the episode with musical guest The Strokes.
James Talarico, Texas senator-elect who appeared in the cold open; Druski, Host of Saturday Night Live; James Austin Johnson, Actor playing Trump in cold open sketch and 2 more
Matthew Shane Zachary was arrested and charged with murder in connection with a homicide at a residence in Gaines County. The Texas Department of Public Safety Texas Rangers are leading the investigation with assistance from the Gaines County Sheriff's Office.
$$750,000 for bond
Matthew Shane Zachary, Suspect arrested and charged with murder; Gaines County Sheriff's Office, Law enforcement investigating homicide; Texas Department of Public Safety Texas Rangers, Leading the investigation
Texas governor-elect Gina Hinojosa said in a CNN interview that the state should pause work with data centers until protections for residents are in place. She promised to introduce laws to change the state's approach and said communities should have a role in deciding whether data centers are built there.
Democrats in the Texas Legislature filed legislation Monday as bill filing opened for the 2027 session. Proposals included Medicaid expansion, minimum wage increases, ending data center tax breaks, banning Flock cameras, repealing ICE partnership requirements for sheriffs, forbidding border wall construction at state parks, ending school vouchers, boosting per-pupil school funding, legalizing marijuana, and building high-speed rail from Dallas to San Antonio.
$up to $10 billion a year for medicaid expansion annual funding to Texas
State Rep. John Bucy, D-Austin, filed Medicaid expansion bill; State Sen. Judith Zaffirini, D-Laredo, filed companion Medicaid bill; Rep. Jolanda Jones, D-Houston, filed school nurse notification bill and 3 more
El Paso County Sheriff's Office arrested 38-year-old Laron Lenard Watts and charged him with theft of property valued at $150,000 or more after he reportedly refused to return a shipment of fiber-optic cable, trailer, and container worth $155,000 total following a payment dispute.
$$155,000 for estimated value of property (shipping container, trailer chassis, fiber-optic cable)
Laron Lenard Watts, 38-year-old man arrested and charged with theft; El Paso County Sheriff's Office, law enforcement agency conducting investigation and making arrest
Texas is considering a moratorium on new data centers while studying their effects on the electrical grid. Researchers found that synchronized battery systems and data center backup power devices cause regular frequency drops in power grids, though not considered an immediate threat to stability.
Governor Greg Abbott, Governor; Electric Reliability Council of Texas (ERCOT), Grid operator; Public Utility Commission of Texas (PUCT), Regulatory body and 2 more