Why Even $200 Million Could Not Help Elon Musk Win Texas

A record-setting Texas contest

More than $573 million went to advertising in the Senate contest involving Talarico, Paxton and groups aligned with them. The spending made it the most expensive Senate election to date, according to the report.

Musk reportedly spent over $445 million backing Republicans in the 2026 election cycle, more than any donor in American history. Much of his spending was directed to Texas, where Tesla and SpaceX are headquartered and where Musk lives.

How Musk’s money was spent

Musk directed more than $168 million to super PACs supporting Paxton. America PAC, which received $216 million from Musk, also spent $34.7 million in Texas, bringing the reported statewide total to more than $200 million.

Paxton’s campaign raised $22.3 million in direct donations, compared with Talarico’s $146 million from voters. Musk’s support helped fund a wave of anti-Talarico advertising, including ads centered on transgender issues rather than the concerns that mattered most to voters, the report says.

Spending became campaign issue

Talarico cast the contest as a struggle between wealthy interests and ordinary people. At an El Paso rally in late October, he said Musk was trying to buy the Senate seat and linked the billionaire to attack ads and messages targeting him.

Musk endorsed Paxton on X, saying the election put the fate of Texas and America at stake. But he did not lead rallies or take a public surrogate role in the midterms, while Talarico repeatedly highlighted the relationship between the two men.

Democrats claim statewide wins

Talarico won by more than 12 points, becoming Texas’ first Democratic senator since 1988. Hinojosa also defeated incumbent Republican Governor Greg Abbott, whom Musk had supported. The report describes Republican losses as part of a wider Democratic wave, with the party winning races across the country. In Texas, however, the outcome showed that extensive spending by Musk did not prevent Democratic victories.