Elon Musk lost big in Texas despite spending $225 million.

Elon Musk spent at least $225 million trying to shape Texas politics.

He lost.

Big.

On Tuesday night, the Republican Party that embraced Musk lost control of Congress.

Democrats also secured the Texas House and a U.S. Senate seat from Texas for the first time in more than 30 years.

The governor-elect is a Democrat who sued to obtain Greg Abbott's emails.

Musk had spent at least $5 million to reelect Republican Governor Greg Abbott.

Abbott lost.

Musk also effectively backed Texas Attorney General Ken Paxton with $158 million of his spending.

Paxton lost his Senate race against Democrat James Talarico.

Now, the question hanging over Musk's empire is simple: Will SpaceX move its headquarters out of Texas?

SpaceX is headquartered in Texas.

Musk moved there from California in 2021, citing frustration with California's regulations.

He has since built a sprawling complex in Boca Chica, near the Texas-Mexico border, called Starbase.

Starbase is where SpaceX builds and launches its Starship rockets.

The company has invested hundreds of millions of dollars in the facility.

But the political landscape in Texas has shifted dramatically.

Democrats now control the Texas House.

They have a new governor who is not friendly to Musk.

The governor-elect sued to obtain Abbott's emails, a move that put him directly at odds with the previous Republican administration.

Musk's reputation among Texas voters is poor.

Slightly more than half of Texas voters said they had an unfavorable opinion of Musk, according to The AP Voter Poll of more than 5,000 voters in the state.

While Musk is viewed positively by MAGA Republicans, those numbers dip for non-MAGA GOP voters and plummet for independent and Democratic voters.

Those were the voters who elected Talarico and the new governor.

Musk spent at least $445 million in total across the midterm cycle, according to The Killeen Daily Herald.

That amount is roughly equivalent to someone on a $100,000 annual salary saving every penny for 4,400 years.

To the world's first trillionaire, it is a pittance.

But the billions of dollars' worth of business his companies do with the federal government is not.

Democrats in Congress are already queuing to get their shot at Musk.

Possible subpoenas and investigations are on the table.

As the bloodiest election for Republicans in recent history wore on, Musk joked on X, the social media site he owns.

"Guess my election-interfering space lasers didn't work this time," he wrote with a shrug emoji.

But the reality is more serious.

Musk now faces new threats to his bottom line in places including Texas.

"This era of open corruption is going to come to an end," said Rep. Gene Wu, chairman of the state legislature's newly empowered Democratic Caucus.

Musk did not respond to messages seeking comment.

The question of SpaceX's headquarters is not theoretical.

SpaceX has already expanded operations in other states.

It has launch facilities in Florida and California.

It has a manufacturing presence in Washington state.

Moving the headquarters would be a logistical challenge but not an impossible one.

Musk has moved companies before.

He moved Tesla's headquarters from California to Texas in 2021.

He moved SpaceX's incorporation from Delaware to Texas in 2024.

But a full relocation of SpaceX out of Texas would be a major blow to the state's economy.

SpaceX employs thousands of people in Texas.

The company's presence has spurred a local economic boom in the Rio Grande Valley.

Local officials have praised the jobs and investment.

But the political winds have changed.

Musk's spending did not buy him the influence he wanted.

In fact, it may have backfired.

Candidates won in part by hammering Musk, the tax breaks and grants his companies receive, and his relationships with elected Republicans.

Talarico and the new governor ran on a platform of accountability.

They promised to scrutinize Musk's business dealings with the state.

Musk's companies receive significant tax breaks and grants from Texas.

SpaceX alone has received tens of millions of dollars in incentives.

Those incentives are now under threat.

Democrats in the Texas House have already signaled they will review them.

"The people of Texas deserve to know why their tax dollars are going to a billionaire who spent millions trying to defeat them," one Democratic strategist told local media.

Musk's federal contracts are also at risk.

SpaceX is a major contractor for NASA and the Department of Defense.

The company has contracts worth billions of dollars for launch services, cargo delivery, and crew transportation.

Democrats in Congress have already called for hearings into Musk's conflicts of interest.

Musk serves as the head of the Department of Government Efficiency, a role that gives him influence over federal spending.

Critics say this is a conflict of interest, given his companies' reliance on government contracts.

"Nobody may have suffered bigger losses Tuesday than President Donald Trump," The Killeen Daily Herald reported.

"But few others had more on the line than Musk, who gambled big and came up holding the midterm's worst return on investment."

Musk's political influence is now in question.

He spent more than any other individual in this election cycle.

He got almost nothing in return.