Though he won his bet with Morning Joe co-cost Joe Scarborough that President Obama would win Minnesota, Michigan and Pennsylvania in the presidential election, campaign adviser David Axelrod lost his bet that Scarborough wouldn't be able to raise over $1 million toward epilepsy research.

Scarborough came through (and then some), so Axelrod had no choice but to settle up by shaving off his iconic mustache for the first time in 40 years on live TV.

Axelrod, whose daughter suffers from epilepsy, was in good spirits, and thanked the many who donated to the cause — even political rival Donald Trump, who paid $100,000 — the largest single donation of his entire life — just to see Axelrod "slash the 'stache."