From Business Insider · Tom Carter · · 40s
Tesla and SpaceX Shares Drop After Musk's Election Bet Fails
Elon Musk's Texas election bets backfire as Tesla and SpaceX shares fall 6-7% premarket.
In brief
Elon Musk's Texas election bets backfire as Tesla and SpaceX shares fall 6-7% premarket. Elon Musk's companies lose $200 billion in market value after Democrats win Texas midterm races. Originally reported by Business Insider.
Texas election results
Tesla and SpaceX shares dropped 6% and 7% premarket after Democrats won Texas midterm races.
Musk's Texas election spending
Musk spent $224 million backing Republican candidates in Texas, including $158 million in September.
Market value impact
Musk's companies could lose more than $200 billion in combined market value if shares hold.
Musk's reaction
Musk said SpaceX's space data centers look 'pretty appealing right now' after election losses.
“Guess my election-interfering space lasers didn't work this time”
At a glance
Elon Musk's companies lose $200 billion in market value after Democrats win Texas midterm races.
