Voters Reject Oligarchs: Musk’s $474 Million Bet Falls Flat
According to an article in The Atlantic, Elon Musk spent $474 million during the midterm elections, yet nearly all of it failed to deliver the outcomes he sought.
The Democrats secured majorities in both chambers of Congress; even in Texas, Democratic candidate James Talarico defeated Republican Ken Paxton.
This year, Musk became the highest individual donor in U.S. election history among non-candidates. His contributions accounted for roughly a quarter of the Republican Party’s fundraising total for 2026.
A significant portion of this funding was directed toward door-to-door canvassing and advertising campaigns, while the remainder went to Republican candidates and affiliated organizations at the state and federal levels.
The article suggests that Musk’s spending in Texas backfired: voters perceived the tech billionaire attempting to buy the election with money.
Musk stands out as one of the most prominent figures among Silicon Valley executives and investors who once strongly backed Donald Trump’s re-election. They had anticipated favorable legislation—particularly on cryptocurrency policy—and minimal regulatory oversight on artificial intelligence, including safety standards.
Trump granted them access to government affairs. Through the newly formed “Department of Government Efficiency (DOGE),” Musk and a group of technologists briefly gained influence over certain federal agencies, data systems, and personnel decisions.
Yet this appears to have provoked widespread public backlash. On November 3, voters across the country rejected nearly every proposed new data center project, along with all candidates supporting such initiatives. Exit polls indicate that a majority of voters expressed deep concern over government corruption and the risks posed by artificial intelligence.
In this electoral cycle, Musk has become a symbolic convergence of everything Americans appear weary of: oligarchic capital, data centers, artificial intelligence, MAGA politics, and cronyism—all distilled into a single figure.
Now, Musk and other technology executives must recalibrate their political strategies. The next Congress is likely to adopt a notably adversarial stance toward their commercial interests.
Original: toutiao.com/article/1880994195578948/
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