At first glance, Elon Musk and Donald Trump might not seem like natural allies. Musk, known for his commitment to reducing greenhouse gas emissions and advancing clean energy, appears to be at odds with Trump, who has often criticized the push for clean energy and advocated for increased fossil fuel production. However, recent developments have brought these two influential figures together in a surprising political alliance.
A Major Financial Pledge
As of Saturday, Musk has publicly endorsed Trump’s presidential reelection bid. According to the Wall Street Journal, Musk plans to support Trump’s campaign by contributing $45 million a month to a new Super PAC, America PAC, backing the former president. This substantial financial commitment marks a significant shift in Musk’s political engagements. Although Musk has previously donated to candidates from both parties, including $5,000 to Barack Obama in 2011, his latest pledge dwarfs his earlier contributions.
While Musk did not directly confirm the Wall Street Journal report, he responded to it with a meme on his social media platform, X, suggesting the report might be inaccurate. However, he did tweet shortly after an assassination attempt on Trump, stating, “I fully endorse President Trump and hope for his rapid recovery.” This tweet aligns with his new political stance, indicating strong support for Trump’s campaign.
Shifting Political Allegiances
Musk’s political journey has been marked by significant shifts. Once a Democratic donor, Musk has expressed growing dissatisfaction with the party, citing its move too far to the left as a reason for his change in allegiance. This dissatisfaction has culminated in his substantial financial backing for Trump’s campaign, a move that has raised eyebrows across the political spectrum.
Musk’s endorsement and financial support come at a time when his influence extends far beyond the business world. With 190 million followers on X, Musk is one of the world’s most-followed influencers, and his public endorsements carry substantial weight. This influence was evident at a recent Tesla annual meeting, which resembled a political rally, with shareholders expressing their admiration for Musk.
Complex Relationship with Trump
Despite Musk’s current support for Trump, their relationship has not always been amicable. In early 2017, Musk resigned from two White House business councils after Trump announced the U.S. would withdraw from the Paris Climate Accord. At the time, Musk tweeted, “Climate change is real. Leaving Paris is not good for America or the world.”
However, in recent years, Musk has shown increasing support for Trump and opposition to President Joe Biden. After acquiring Twitter (now X) in 2022, Musk restored Trump’s account, which had been previously suspended. Musk has also criticized Twitter’s former management for allegedly censoring anti-Biden stories, although these claims were later challenged in court filings.
Musk’s Influence and Government Support
While Musk is a vocal critic of government subsidies for industries like coal and oil, his companies, particularly Tesla and SpaceX, have significantly benefited from government support. Tesla, the cornerstone of Musk’s net worth, has enjoyed subsidies under the Biden administration, including tax credits of up to $7,500 for electric vehicle buyers. However, Musk argues that these subsidies have also benefited Tesla’s competitors, prompting him to call for the removal of all industry subsidies.
Musk’s recent tweet, “Take away the subsidies. It will only help Tesla,” reflects his belief that his company can thrive without government support. This stance, however, overlooks the substantial government contracts that have supported SpaceX’s operations.
