# 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.
- Title: Tesla and SpaceX Shares Drop After Musk's Election Bet Fails
- Summary: 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…
- Keywords: elon musk, tesla, spacex, election, midterm races, texas, market value, Business Insider
- Source: Business Insider — https://businessinsider.com/tesla-spacex-shares-drop-elon-musk-election-bet-backfires-2026-11
- Author: Tom Carter
- Published: 2026-11-04T14:04:21.382+00:00
- Read time: 1 min
- Topics: elon musk, tesla, spacex, election, midterm races, texas, market value, business, technology
## 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
## Key takeaway

Elon Musk's companies lose $200 billion in market value after Democrats win Texas midterm races.