Elon Musk suffers massive $113 billion wealth loss following Republican midterm defeat

Musk lost $33.5 billion on Wednesday and another $79.7 billion on Thursday as investors reacted to the election resultsElon Musk's fortune has fallen by approximately $113 billion in just two days following the Democrats' victory in the US midterm elections, as shares in Tesla…

PUBLISHED BY22Media News DeskIndependent newsroom

PublishedNov 6, 2026 Reading time1 min read Views4

22MEDIA INTERNATIONALWorld Desk

WorldEDITORIAL DESK PHOTO

IN SHORT

World

22MEDIA REPORTWorld

1 min read

Musk owns approximately 17.7 percent of the electric vehicle manufacturer.Meanwhile, SpaceX shares declined 3.8 percent on Wednesday and a further nine percent on Thursday, dealing another blow to Musk's wealth.

He holds a 10.3 percent stake in the aerospace company.The losses come after Musk spent approximately $446 million supporting Republican candidates and political campaigns during the midterm elections.However, Democrats secured control of Congress, raising concerns among investors about increased government scrutiny and potential regulatory changes affecting Musk's businesses.Despite the sharp decline, Musk remains the world's richest person, with an estimated net worth of $785 billion.His fortune is still more than….

Elon Musk suffers massive $113 billion wealth loss following Republican midterm defeat November 6, 2026.

PUBLISHER22Media International

EDITORIAL STANDARDAccuracy · Corrections · Accountability

COVERAGE DESKWorld

Related Stories

Fox completes major Roku acquisition ahead of schedule

Jerusalem Daily: Arab parties back Eisenkot against Netanyahu

Protesters break into Microsoft AI data centre site in Amsterdam

Watch: Is it the end of the road for Tesla’s Cybertruck?