Elon Musk becomes Donald Trump’s kingmaker after political endorsement
Bloomberg Businessweek delves into the convergence of Elon Musk and Donald Trump's fortunes. From Musk's significant donation to a Trump Super-PAC to his public endorsement and subsequent conspiracy-laden tweets, they explore what this partnership means. Featuring insights from Bloomberg's Max Chafkin, Dana Hull, and Brad Stone, they discuss the potential impacts on Musk's businesses, the Robotaxi delay, and the implications of a Trump-Musk alliance. Join host David Papadopoulos for an in-depth analysis.
Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.
Join us for BizNews' first investment-focused conference on Thursday, 12 September, in Hermanus, featuring top experts like Frans Cronje, Piet Viljoen, and more. Get insights on electricity and exploiting SA's gas bounty from new and familiar faces. Register here.
By Reyhan Harmanci
The fortunes of Elon Musk and Donald Trump have been converging for the better part of the past year. But over the past week, the union became official. On Friday, Bloomberg broke the news of a significant donation to a Trump Super-PAC, and on Saturday, immediately after an assassination attempt on Trump's life, Musk tweeted out his endorsement. (And then followed it up with some light conspiracy mongering and ahistorical comparisons between Trump and Teddy Roosevelt.) We discuss what the two men have in common, what may come out of this partnership, and how big of a black eye for Musk a Trump loss would mean. All this, plus the disappearing Robotaxi. All this, plus the disappearing Robotaxi.
This episode features Bloomberg Businessweek writer Max Chafkin, Bloomberg's Elon reporter Dana Hull and Bloomberg Businessweek editor Brad Stone, who just spent time with Trump in Florida for this month's cover story LINK.
- When Bloomberg reported on Friday that Musk would donate to a super PAC, it was unknown how much he would be giving. Since then, more reporting — although no official filings — have come out, putting it at $45 million every month, or $180 million in total. This would immediately put Musk near or at the top of the list of Trump's biggest donors this cycle.
- While Musk regularly tops the list of the world's richest people, giving $100+ million to a politician is no small thing. It's not immediately clear how he is getting the money, whether he's selling shares of some of his companies or borrowing against his stakes.
- The value of Musk's endorsement is both symbolic and financial. But what will he get out of Trump, in return? As a government contractor who is facing federal investigations from a number of regulatory bodies, Musk could stand to profit hugely from a close relationship with a president. He could also try to get Trump back on X, which would give a real kick to the struggling platform.
- Last week, Bloomberg also broke the news that the Robotaxi launch would be delayed from August to October. Musk confirmed the Dana Hull scoop this past week. The Robotaxi is crucial to Tesla's future, although the stock has been rising with news of the new alliance between Trump and Musk.
Read also:
© 2024 Bloomberg L.P.