Musk spent $500 million on the election, lost

Elon Musk broke a record for election spending, but he didn't get anything in return. According to Forbes news based on FEC documents, Tesla CEO spent approximately $500 million to get Republican candidates elected. However, the results of the midterm elections turned in favor of the Democrats. Therefore, the return on investment was largely wasted.

Counting continues in some races. For example, the Senate races in Mississippi and Alaska have not yet been determined. Still, the picture does not look bright for Musk. Because the number of races won remained quite low.

Musk was by far the election's largest individual donor. On the other hand, he spent more than three times as much as second-place billionaire couple Dick and Liz Uihlein. This difference shows the scale of spending. He also funneled money to various Super PACs and certain candidates.

Musk supported Republicans in a total of 106 races in the House and Senate. So far, 18 of them have won. Moreover, these names mostly came from very safe Republican areas. Therefore, Elon Musk's election spending did not bring the expected success.

Races lost: 45

Races not yet concluded: 43

Races won: 18

Democrats are ahead in many of the inconclusive races. Therefore, figures may change. There were also significant losses in states such as Maine, Michigan, Minnesota, Kansas and Iowa.

Most of Musk's money went to Texas, where he had just registered to vote. It transferred about $225 million to the state, according to CNBC. However, the result was not as expected. That's why Elon Musk's election spending received the harshest response here.

One Senate seat and the governorship went to Democrats by large margins. The same situation occurred in many Assembly seats and state assembly seats. Moreover, Musk said before the election that a Democrat victory would be "the end of democracy in any meaningful way." He also said that James Talarico, who was elected to the Senate in Texas, "will turn your children into trans."

Two years ago, about 22 months ago, Musk's position was very different. He was making cuts in government institutions and was on the agenda with his gestures such as the Roman salute. Today, Elon Musk's election spending remained largely unrequited.

Still, he is not financially shaken. Because it is stated that Musk's net worth is approximately 898 billion dollars. This figure is sufficient to repeat similar spending in many election cycles in the future. Therefore, what really matters is the final result of the 43 races that have not yet been concluded. Thus, Musk's loss picture will become clear.