Donald Trump’s re-election as President of the United States could signal a substantial boost for one of his prominent backers, Elon Musk.
The billionaire entrepreneur, who joined Trump at his Mar-a-Lago resort on election night, amplified his support with a tweet declaring, “The people of America gave @realDonaldTrump a crystal clear mandate for change.”
Musk has emerged as a key ally since the July assassination attempt on Trump, backing the campaign with over $119 million directed towards a pro-Trump Super PAC.
He was also instrumental in mobilizing voters in critical battleground states, implementing a controversial $1 million daily giveaway to encourage turnout. Despite facing legal challenges, the initiative was allowed to proceed.
The newly elected President praised Musk during his victory speech at the Palm Beach Convention Center, highlighting Musk’s achievements with SpaceX, which plays a pivotal role in government satellite launches.
Trump has proposed creating a “Department of Government Efficiency” (DOGE), where Musk could play a central role in streamlining government operations.
Musk stands to benefit not only from governmental collaboration through SpaceX but also through his electric vehicle company, Tesla.
Trump’s administration has promised to reduce regulations significantly, a move that could favor Tesla amid ongoing scrutiny over its self-driving software. Additionally, Musk hopes to see tax cuts for corporations and wealthy individuals—a pledge Trump has made.
