[Elon Musk's $474 Million Midterm Election Donation Nearly Doubles 2024 Election Donation] According to a report by Fortune on November 5th, Elon Musk donated at least $474 million to Republican candidates for the 2026 midterm elections, nearly double the amount he donated before the 2024 presidential election. Approximately $200 million of this was earmarked for Texas. Election results showed that Texas Republican Senate candidate Ken Paxton and Governor Greg Abbott both lost to their Democratic opponents. Musk also donated $30 million to the Congressional Leadership Fund and $44 million to other Republican groups and candidates. Following the election results, shares of SpaceX and Tesla, both headquartered in Texas, fell on Wednesday.