Washington: The Democratic Party’s big victory in America’s midterm elections may now affect billionaire businessman Elon Musk as well. Musk had given huge financial help to Republican candidates and political organisations during the elections. However, despite his support, Democrats won in many important states including Texas. Now, with the increase in the strength of Democrats in both houses of Parliament, the demand for investigation of Musk’s business activities and his role in the Trump administration may intensify.
Musk is the owner of big companies like Tesla and SpaceX. According to election-related data, he had given more than 445 million dollars in financial assistance to Republican candidates, political organisations and other groups. He was among the biggest spender donors in this election.
Which candidate did Musk bet on in Texas?
Musk spent the most money on campaigning for Republican candidates in Texas. He invested approximately 225 million dollars in the election campaign. This also included supporting the campaigns of senatorial candidate Ken Paxton and Governor Greg Abbott. However, both candidates lost the election. Democrats won all statewide positions in Texas.
How did Talarico beat Ken Paxton?
Democrat candidate James Talarico defeated Ken Paxton in the race for senator. During the election campaign, Talarico had accused Musk of trying to buy political influence. He said that Musk wants Texas land, water, government money and a senator of his choice. After the victory, Talarico said that power should be in the hands of the people, not in the hands of billionaires.
Why might Musk’s role in DOGE be investigated?
Democrats can now investigate Musk’s role in the Trump administration and his interference in government functioning. Musk took command of DOGE, the department related to reducing government spending, in the initial months of Trump’s second term. Democrat lawmakers want to know whether Musk used this position to benefit his companies.
According to the report, during the four months of taking charge of DOGE, Musk received about $6.3 billion in government contracts. After this, it has also been claimed that his companies will get more contracts worth at least 10 billion dollars. In such a situation, the possible conflict between government contracts and Musk’s business interests could become an important issue of investigation.
Questions may also be raised on matters related to Russia and Ukraine?
Democrat lawmakers are also raising questions about Musk’s ties with Russia and his contacts with Russian President Vladimir Putin. Senator Chris Coons has expressed the possibility of sending a summons to Musk on this issue and seeking answers.
Apart from this, questions have also been raised regarding Musk’s decisions on the use of Starlink internet service in Ukraine. Starlink has played an important role in Ukraine’s communications system and drone activities during the war. In such a situation, the MPs want to investigate what impact these decisions had on the security of Ukraine.
Tesla and SpaceX shares fall after election results?
The impact of the Democrats’ victory was also seen on the shares of Musk’s companies. After the election results, Tesla shares fell by about 3.3 percent and SpaceX shares fell by about 3.8 percent. Investors fear that as Democrats gain control in Parliament, Musk’s companies may face greater scrutiny in terms of government contracts, regulatory decisions and business expansion.
In this way, Musk’s huge financial support for Republican candidates in the midterm elections did not give the expected results. Now after the victory of the Democrats, new questions are likely to be raised in Parliament on their business activities, government contracts and the role played in DOGE.
