Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms
What the coverage says
Following the midterm elections, shares in Elon Musk's companies fell sharply as Democrats took control of Congress, with CNBC reporting a combined loss of over $420 billion in market capitalization for Tesla and SpaceX. France 24 noted that the tech titan became the largest individual campaign donor in the US midterms by pouring over $440 million into Republican candidates and causes, most of whom lost their races. While Al Jazeera observed that Musk made light of these defeats, the New York Times added that the world's richest person has antagonized Democrats, some of whom intend to investigate him. Additionally, the BBC reported that the market reaction encompasses potential tougher scrutiny for the artificial intelligence industry and data center construction.
Written by HeadlineShine from 5 outlets' reporting, with AI assistance. Each outlet's own story is listed alongside.
Timeline
- New York Times first reported it
- Al Jazeera reported it
- France 24 reported it
- BBC reported it
- CNBC reported it
- Latest update
