# ‘This might just be the biggest defeat for big money in politics’: Billionaires poured hundreds of millions into Tuesday’s races and still lost

- Source: Fortune | FORTUNE
- Published: 2026-11-04T07:24:51+00:00
- Category: Business
- Original: https://fortune.com/2026/11/04/big-money-politics-billionaire-spending-midterm-election/
- Canonical: https://groundlevelnews.com/story/this-might-just-be-the-biggest-defeat-for-big-money-in-politics-billio-adf36a/

Elon Musk’s pick lost in Texas and billionaires Vivek Ramaswamy and Rick Jackson lost their own races, though California’s wealth tax is trailing.

_Ground Level News shows a short summary only; the full article and all rights belong to Fortune | FORTUNE._