How Elon Musk frittered away nearly US$500 million on the midterms

Elon Musk spent nearly US$500 million on the midterms, the most by a non-candidate donor, but Democrats still won big and his backed Texas races failed.Musk aimed to help Republicans keep Congress and save Ken Paxton, but his turnout-heavy strategy, internal doubts, and late ad buys did not stop the losses.The defeat now raises questions over Musk’s political influence, his spending choices, and possible scrutiny from newly empowered Democrats in Congress and Texas.WASHINGTON - The world’s richest person had face-planted – and was now trying to turn back time.Elon Musk spent nearly US$500 million (S$641 million) during the midterm cycle, the most in any election period for a donor who wasn’t a candidate himself.Get unlimited access to exclusive stories and incisive insights from the ST newsroom