Tech billionaires suffer as Democrats drub Republicans


From CNBC

4 November, 2026

Excerpts:

The election also sharpened the political fight over data centers and artificial intelligence infrastructure.

Texas is a major center of planned data-center construction, and Hinojosa campaigned for a pause on new projects until the state adopts tougher rules.

Her victory gives Democrats more influence over Texas’ approach to the build-out, though the state Legislature remains in Republican hands.

The results also delivered a blow to the tech billionaires and corporate interest groups that poured hundreds of millions of dollars into backing Republican candidates who might be friendly to the massive AI data center projects they hope to build around the country.

Elon Musk, the world’s richest man and the cycle’s largest individual political donor, spent record sums in a failed effort to help Republicans retain power, including in Texas.

Musk’s spending may have become a liability as voters raised concerns about government corruption and the growing influence of billionaires in exit polls. Talarico repeatedly attacked Musk on the campaign trail, accusing him of trying to buy “his very own personal United States Senator.”

“Tonight’s results are a wake-up call for corporate special interests and billionaires who have been rigging the economy,” said Rep. Chris Pappas, who defeated former Republican Sen. John Sununu to win an open Senate seat in New Hampshire.

Silicon Valley spent record sums trying to shape the election. Instead, it got a Democratic House promising to haul its CEOs before congressional investigators.

Many of the winners ran against not just Trump, but the billionaire donors who helped bankroll Republicans.

Via https://t.me/healthimpact/3850

1 thought on “Tech billionaires suffer as Democrats drub Republicans”

  1. Well, it just goes to show that shit really is bad when this election turned TEXAS, BLUE!! Abbott is gone, Paxton is out, beaten by Talarico. Keisha Lance Bottoms, the first Black woman elected as governor of Georgia is a definite punch at Trump! Democrats now control the House and Senate. Mike Johnson can just go somewhere and sit the hell down! I’m so tired of looking at him with his do-nothing ass, I can’t wait until the Dems take over in January! The first thing is to stop the Iran war, impeach and imprison Donald Trump AND Pete Kegsbreath on war crimes. Here’s an idea! Turn them BOTH over to Iran!!! To be honest, I ain’t mad at the results of this election.At.All!!!!!

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