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Business & Finance · November 5, 2026

Elon Musk may have bought control of the post-Trump Republican Party … but it cost him $30 billion of his net worth

Part of: Texas Senate: Paxton vs. Talarico →
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Following the 2026 midterm elections, Senator-elect James Talarico has expressed a willingness to collaborate with Elon Musk, despite the billionaire's significant financial contributions to Republican efforts in Texas and nationally. Musk reportedly spent hundreds of millions of dollars on the midterm cycle, during which Democrats secured control of Congress. Observers are now weighing Musk's future influence within the Republican party and potential regulatory scrutiny of his government efficiency initiatives as the new legislative session approaches.

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Reported by only some outlets

  • James Talarico stated he would 'work with anyone' including Elon Musk.
  • Elon Musk donated at least $474 million to Republican candidates during the 2026 midterms according to Fortune.
  • Democrats won control of Congress in the 2026 midterms.
  • The Department of Government Efficiency (DOGE) project is facing accusations of breaking federal rules.
  • Elon Musk's net worth decreased by approximately $30 billion on paper following recent market shifts.

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