--- title: "Elon Musk Deletes Smug Election Posts After They Backfire and His Businesses Tank by $120 Billion" description: "Elon Musk spent nearly $500 million in the midterms and lost his companies over 100 billion dollars more, and he's not taking it well." date: "2026-11-05" modified: "2026-11-05" authors: - name: "Frank Landymore" job_title: "Contributing Writer" link: "https://futurism.com/authors/flandymore.md" url: "https://futurism.com/future-society/elon-musk-election-backfire-loses-billions" categories: - "Elon Musk" - "Future Society" - "The Industrialists" --- # Elon Musk Deletes Smug Election Posts After They Backfire and His Businesses Tank by $120 Billion ![A photo illustration of Elon Musk.]() *Kevin Dietsch/Getty Images / Futurism* Elon Musk blew $447 million to support Republican candidates in the midterm elections — and almost every single cent of it [went to waste](). But if you were about to break out a tiny violin to soundtrack the sorrows of the world's first — and first former — trillionaire, you should consider acquiring an even tinier one, because those were just the beginning of his losses. Shares of Musk's businesses SpaceX and Tesla immediately tanked after Democrats swept the Senate, House, and governorship races — including in Texas, Musk's base of operations. His automaker fell 3.3 percent, and his rocket-slash-AI company plunged by a full 3.8 , wiping out what *Bloomberg* [reported]() was over $120 billion. That did a number on Musk's personal wealth, which in large part derives from his stakes in those companies. He is now, by the [*Financial Time's* estimate](), some $30 billion poorer. Despite the excess of egg on his face, Musk still managed to look through his post history on X and start deleting the ones about the election. Trying to rally his followers, Musk tweeted "Vote red today!" on Tuesday morning. But it was removed after the reality of a blue tsunami came crashing at his doorstep. So was his pinned tweet from last week urging his followers to vote for Republican senators, which [according to *Forbes*]() was taken down around the time Democratic candidate James Talarico declared victory in the senate race. To his credit, he did make a few jokes at his own expense. "Data centers in space looking pretty appealing right now," he [tweeted]() late Tuesday night. For the most part, though, Musk seems eager to move on. Besides one post in which he claimed "Voter ID failed in California," he's gone back to his usual tweets promoting Grok and his various companies almost as if nothing happened. If we spent half a billion dollars trying to get candidates elect who all lost, and were now [staring down the barrel of a Democrat-stacked government looking to get revenge on us](), we would probably try to sweep everything under the rug, too. **More on industrialists:** [*Elon Musk in Real Trouble After Humiliating Defeat*]() ## Author At Futurism, my work has often centered on bringing a sense of clarity and insight to complex topics ranging from the regulation of emerging technologies to the esoteric ideologies of Silicon Valley executives, while striving not to lose the poetic sense of awe inspired by often-obscure fields like astrophysics and quantum computing. I broke the story of CNET using AI to produce articles that turned out to be riddled with factual errors and plagiarism — a dam-breaking inflection point, as I've reported, that's inspired copycats and endless discourse while beguiling stakeholders ranging from tech giants to purveyors of spam around the web. My work at Futurism has been cited by publications including CBS News, the Los Angeles Times, Vice, Gizmodo, Engadget, the Verge, and Vanity Fair. I grew up in locales ranging from India to China, and now live in the exotic suburbs of Virginia. In my free time, I'm an avid reader of weird sci-fi literature, an aficionado of East Asian cinema, and, regrettably, a relapsed gamer. Allegedly, I’m working on a debut novel, currently untitled. ### Author social links [Bluesky]() ## More - [AI Billionaires Are Flooding Money Into Politics to Influence Elections, But It’s Backfiring]() - [The Tech Industry Went All in on Trump, and Now They’re in Serious Danger Now That Americans Have Turned on Him]() - [Cash-Desperate Donald Trump Meets With Elon Musk]() - [Veteran NASA Astronaut Elected to US Senate]() - [Elon Musk in Real Trouble After Humiliating Defeat]() - [Last Time Elon Musk Worked With Trump, He Flamed Out and Quit in Disgust]() - [Democrats’ 2024 Election Autopsy Shows Signs of Sloppy AI Generation]() - [Elon Musk Declares Open War on Republican Party]()