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Elon Musk's millions fail to deliver Texas for the Republicans in fierce midterms

Image: BBC Business

Democrat James Talarico's resounding victory in the Texas Senate race caused a major upset in the midterms for Republicans - and for Elon Musk.

According to the Financial Times, external, the billionaire's political action committee (Pac) contributed $47m (£35m) to Republican candidate Ken Paxton's campaign, on top of the $158m he gave the Senate Leadership Fund in September.

The money was not enough to stop the seat from turning Democrat for the first time since 1988. In his acceptance speech, Talarico said: "We just proved that all the money in the world is no match for the people of Texas."

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