Elon Musk deletes pro-Republican posts after $120 Billion loss

Billionaire entrepreneur Elon Musk has suffered a major financial setback following the Democrats’ success in the US midterm elections, with his companies Tesla and SpaceX reportedly losing more than $120 billion in combined market value.

According to US media reports, the election results triggered pressure on shares linked to Musk’s business empire, while his personal fortune also declined by an estimated $30 billion.

The financial blow comes after Musk invested heavily in supporting Republican candidates during the election campaign, making the latest developments a significant setback for the billionaire’s political and financial interests.

Reports indicate that Tesla shares fell by 3.3 per cent following the election results, while SpaceX shares declined by 3.8 per cent. The combined impact reportedly wiped more than $120 billion from the market value of the two companies.

Musk’s personal wealth also took a substantial hit, with estimates suggesting a reduction of approximately $30 billion.

However, the financial losses were not the only development attracting attention. Following the Democrats’ electoral gains, Musk also removed several posts from his social media platform X that had openly encouraged voters to support Republican candidates.

Before the elections, Musk had publicly urged Americans to vote for Republicans, sharing a post with the message, “Vote Red Today.”

He had also pinned another post encouraging voters to support Republican candidates, making his political position particularly visible during the campaign.

However, both posts were reportedly removed after the election results became clear.

Musk’s involvement in US politics has attracted considerable attention, particularly because of his financial contributions and influence as the owner of X. His support for Republican candidates had made him one of the most prominent business figures associated with the party’s election campaign.

The latest developments have raised questions about the financial and political consequences of his involvement in the midterm elections.

While the removal of his posts does not necessarily indicate a change in his political position, the timing has drawn attention amid the reported losses affecting his companies and personal fortune.

For Musk, the election aftermath has delivered an uncomfortable combination of political disappointment and financial pressure, highlighting the risks that can accompany the intersection of business interests and electoral politics.