As the 2024 American presidential election approaches, Elon Musk is asserting himself as a central figure in Donald Trump’s campaign, who has even already offered him a position in a possible government, in the event of victory.
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– Elon Musk has expressed his willingness to serve in a possible Trump administration if the latter is elected president.
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Elon Musk in the White House? This could become reality if Donald Trump won the American presidential election on November 5. Since July and the assassination attempt on the former President of the United States, the boss of Tesla, SpaceX and X has publicly supported Donald Trump. The richest man in the world (his fortune is estimated at $250 billion) reinstated Donald Trump’s banned account a few months after buying Twitter, renamed it X. On the social network, the billionaire relays all the Trumpist theories and presents himself as a strong supporter of his electoral campaign.
In August 2024, he even offered him a three-hour interview broadcast live on X. Donald Trump took advantage of this exchange to compliment Elon Musk: “You are the best cost reducer”he told him in reference to the wave of layoffs he imposed at X. “I need an Elon Musk. I need someone who has a lot of strength, courage and intelligence”continued the businessman.
Also read: American presidential election: what if crazy real estate prices gave Trump victory?
Elon Musk, future strongman of “draconian reforms” in a Trump government?
In September, the former American president clarified his proposal: “On the advice of Elon Musk (…) I will set up a government commission responsible for conducting a comprehensive financial and performance audit of the entire federal government, with a view to making recommendations for drastic reforms”declared the former president of the United States. On X, Elon Musk was quick to respond. He said he had “looks forward to serving America if the opportunity arises”, all “without salary, without title, without recognition”.
Elon Musk plays a central role in Donald Trump’s race to the White House. He founded America Pac in which he invested more than $75 million. In the United States, the electoral campaign of candidates is financed by PACs, for political action committees. These are organizations that collect private donations. Super PACs like America PAC escape donation limit rules. Beyond this organization, the business leader also organized a super lottery in the swing states. Provided they signed a pro-Trump petition, voters could try to win $1 million per day until November 5.
Also read: American presidential election: these key “swing states” that could change everything
Not entirely disinterested support for Donald Trump
For Tim Walz, Kamala Harris’ running mate, Elon Musk is going too far. “This guy is literally the richest man in the world and is spending millions of dollars to help Donald Trump buy the election”he said during a speech in Wisconsin on October 23. According to Walz, the billionaire’s political involvement serves his own interests, because Donald Trump “will put Elon in charge of government legislation that regulates companies run by Elon”.
An investigation of New York Timespublished on October 20, reveals the links between Elon Musk’s businesses and the American federal state. SpaceX has reportedly signed contracts with NASA and Defense for more than $15 billion, while Tesla benefits from contracts worth $325,000, as well as privileged relationships with several agencies, particularly in the energy sector. As of 2023, as many as 17 federal entities have collaborated with one of Musk’s companies, generating approximately $3 billion in revenue for him. The newspaper also mentions around twenty investigations and legal proceedings targeting one of its companies.
Billionaires and politicians, an old love story
In the United States, the links between billionaires and politicians are well anchored, as evidenced by the rise of Donald Trump, a former business magnate who became president. During his tenure, Trump chose wealthy business leaders, like Wilbur Ross, an investor and banker whose fortune was $3 billion in 2016, to join his government. Historically, figures like Charles Wilson (General Motors) or Henry Ford have also exercised notable political influence.
The organization Americans for Tax Fairness (AFT) underlines in a report dated October 29 that American billionaires have devoted nearly 600 million dollars to support one or another candidate for the presidency, with a large share (450 million of dollars) going to Donald Trump. Elon Musk notably contributed $133 million to Trump. Kamala Harris, for her part, has benefited from $143 million in donations from billionaires and, despite more modest contributions, has total funding of more than $1 billion, compared to around $850 million for Trump, after the Opensecrets organization.
The report recalls that “during his term, Trump cut taxes on the rich and big businesses (…). He promised more tax cuts if he gets a second term. Inversely, “Harris has vowed to increase taxes on the rich (…) in particular by creating a special tax for billionaires and other ultra-rich”. “We must reduce the political power of billionaire families by taxing them better and effectively limiting their campaign contributions. Until this is done, we will only see a growing influence of the ultra-rich on our politics and our government.says David Krass, executive director of ATF. The 2024 US presidential campaign is the most expensive in US history. The total amount would be $16 billion, according to OpenSecrets.
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