The electoral defeat cleared the way for Democrats to claim control of both congressional chambers and prepare potential subpoenas targeting the Department of Government Efficiency. In Texas, Democratic contenders won the governorship, the state House, and a federal Senate seat by running directly against local corporate subsidies granted to his firms. Investors responded swiftly to the political realignment, erasing billions in market value from his core companies.
Key points
Congressional Democrats plan to leverage their majority to investigate federal contracts…: Congressional Democrats plan to leverage their majority to investigate federal contracts held across his corporate empire.
Democratic candidates broke a 30-year losing streak in Texas by campaigning directly agai…: Democratic candidates broke a 30-year losing streak in Texas by campaigning directly against local tax breaks granted to his businesses.
Investors swiftly penalized his public and private holdings over concerns regarding upcom…: Investors swiftly penalized his public and private holdings over concerns regarding upcoming legislative subpoenas and regulatory scrutiny.
Sources checked by our analysis pipeline: 1
To the world's first trillionaire, it's a pittance, but the billions of dollars' worth of business his companies do with the federal government is not.
And on Tuesday night, a Republican Party that had embraced Musk lost again and again, ceding control of Congress to a Democratic Party leery of the world's richest person and keen to put his companies and his work at the Department of Government Efficiency under a microscope.
Nobody may have suffered bigger losses Tuesday than President Donald Trump. But few others had more on the line than Musk, who gambled big and came up holding the midterm's worst return on investment. Democrats in Congress were already queuing to get their shot at Musk, with possible subpoenas and investigations.
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.
Musk now faces new threats to his bottom line in places including Texas, where he has based himself and several of…
Combined with an endorsement from the Arab-led party Ra'am, the move brings the total number of lawmakers backing Eisenkot to 67 in the 120-seat Knesset, dealing a significant blow to Prime Minister Benjamin Netanyahu's bid to remain in power. Together, the two Arab-led parties secured a record 19 seats in the 27 October election, while Netanyahu's right-wing bloc won 53 seats and Eisenkot's opposition alliance secured 48. The Joint List said its unanimous decision was driven by public demands to prevent Netanyahu…
A diplomatic rift has emerged after Vice President JD Vance attributed Republican midterm defeats to the joint military campaign against Iran, arguing the public wants a recalibrated alliance. Israeli officials pushed back by emphasizing that the ultimate choice to strike Tehran rested entirely with the United States. The political fallout threatens to fundamentally reshape long-standing bilateral ties as domestic frustration with Israeli leadership mounts across both American parties.
Addressing the launch of Lianhe Zaobao’s English edition on Nov 5, President Tharman Shanmugaratnam urged domestic news outlets to prioritize thorough, fact-based reporting over merely promoting a national viewpoint. He emphasized that the country's unique multicultural standing enables local journalism to bridge deep international information divides, particularly regarding major powers like China. This role is increasingly vital as geopolitical tensions and declining cross-border academic exchanges erode global…