Elon Musk speaks via videolink on the day of SpaceX's initial public offering in New York on June 12.
Brendan McDermid/Reuters/File
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Elon Musk poured nearly half a billion dollars into the midterms to support Republican candidates, most to help Ken Paxton defeat Democrat James Talarico in the Texas Senate race.

Talarico won. But it was the other Democrat upsets in the state, for governor and attorney general, that could cause bigger problems for Musk and his Texas-based companies: rocket and AI company SpaceX and electric car maker Tesla.