In the 2024 presidential race, Elon Musk played a pivotal role, backing Donald Trump‘s successful campaign with over $119 million in donations and a robust social media push. Musk’s efforts, which included funding a battleground state voter drive with million-dollar prizes, positioned him as a prominent ally of Trump, raising questions about how this alliance will shape Musk’s influence in U.S. politics.
Musk’s Transition to Political Powerbroker
While Musk has long been associated with political commentary, his alignment with Trump marks a significant shift from his past as a self-described moderate. Initially, Musk critiqued Trump, even suggesting in 2022 that Trump should step away from politics. Trump, in turn, mocked Musk for relying on federal subsidies. By 2024, however, these disputes had vanished, with Musk emerging as one of Trump’s major financial backers.
Born to Influence
The Pretoria-born billionaire, who moved to the U.S. in the 1990s, built his empire with ventures such as Zip2, X.com (which became PayPal), and most famously, SpaceX and Tesla. Through SpaceX, Musk pursues his vision of making humans a multiplanetary species, closely collaborating with NASA under multibillion-dollar contracts.
Leveraging Wealth for Political Gain
Musk’s ownership of Twitter (now X) amplified his political sway, allowing him to drive narratives and promote Trump’s campaign, despite alienating advertisers and seeing the platform’s valuation drop. Political observers like David Faris from Roosevelt University note Musk’s apparent willingness to sacrifice financial gain for influence, contrasting him with wealthier figures who remain business-focused.
Political Ambitions and Policy Influence
Although Musk can’t run for U.S. president due to his South African birth, analysts like Steve Nelson of Northwestern University suggest Musk might pursue influence through lower office or leverage his Trump connections for policy shifts. Trump has hinted at creating a federal efficiency department for cost-cutting—a potential platform for Musk to impact government operations.
Bhaskar Chakravorti from Tufts University sees Musk as driven by more than just business incentives. He notes Musk’s actions stem from a pursuit of high-stakes challenges, leading to both groundbreaking successes and audacious excesses.
Business Outlook in a Trump Administration
While SpaceX stands to gain from a Trump presidency, Musk’s Tesla could face challenges due to Trump’s plans to scale back climate-focused policies. Yet Musk’s support may serve as a protective measure, aligning his companies with favorable policies or mitigating negative impacts.
Musk’s journey from tech innovator to political influencer underscores his multifaceted ambitions, suggesting that his partnership with Trump may shape not just their own fortunes but the trajectory of U.S. policies in technology, defense, and the economy.
