Election blow to Elon Musk! $456 billion went up in smoke

Elon Musk’s companies lost roughly $456 billion in combined market value after the U.S. midterm elections, as Democrats’ control of Congress raised concerns about tighter oversight and investigations into Tesla and SpaceX. The selloff reflects investor sensitivity to regulatory risk around Musk’s businesses following the political shift. Tesla and SpaceX were the main vehicles for the decline, with the scale of the drop underscoring how closely Musk-linked valuations are tied to Washington’s posture toward his firms. What to watch next is whether Democratic committee scrutiny translates into formal probes, hearings or legislative pressure that could affect Tesla’s and SpaceX’s operations and investor confidence.