OPINION: Elon Musk's Trump endorsement: Profit over principles?

Elon Musk, the billionaire entrepreneur behind Tesla and SpaceX and owner of the X platform, has intensified his support for Republican candidate former US President Donald Trump in the 2024 presidential election. After organizing a solo rally for Trump in Philadelphia, Pennsylvania, for the first time, Musk announced [1] that he would give $1 million daily, via a raffle, to those who sign a petition encouraging Republicans in key states to vote, supported by the pro-Trump political action committee America PAC, until Election Day.

Over the past 3 months, following his declaration of support for Trump, Musk has donated $75 million to Trump's campaign. Musk's backing [2] of Trump raises questions about the motivations behind this decision, the potential effects on the election, and how his unique influence might shape the outcome.

- From Biden supporter to Trump ally

Musk's shift to supporting Trump in the 2024 election, despite backing Democrats in the 2020 election, can be attributed to the deterioration of his relationship with the Democratic Party in recent years. Initially, Musk's support was not directed toward Trump. Musk had supported [3] Florida Governor Ron DeSantis, whom he viewed as Biden's strongest opponent and Trump's biggest rival in the Republican primaries.

As Trump eliminated his rivals in the Republican primaries, Musk shifted his support to Trump, and Trump, in return, promised Musk a position in his cabinet if elected. Musk's move from Democrats to Republicans is tied to his strained relationship with the US President Joe Biden administration. By early 2021, Tesla was responsible for nearly two-thirds of the electric vehicles on US roads, positioning it as a leader in the sector. However, Tesla was conspicuously excluded from major White House events [4] celebrating the growth of electric vehicles. Since the Biden administration prioritized its relationships with unionized automakers like General Motors, Ford, and Stellantis, Tesla, which operates with a non-unionized workforce, was politically sidelined. This exclusion became a symbol of Musk's broader frustration with the Democratic Party's labor policies and priorities.

On the other hand, Trump's policies, which encouraged the reduction of federal regulations, allowed Musk's ventures to grow with fewer bureaucratic obstacles. From environmental regulations affecting Tesla's electric cars to labor policies potentially impacting Tesla's workforce, Musk likely found Trump's promises of reduced oversight appealing.

Musk's aerospace company, SpaceX, has also significantly benefited from US government contracts with National Aeronautics and Space Administration (NASA) and the Pentagon. Under Trump, the US Space Force was established, providing more opportunities for SpaceX to collaborate with the US military and earn hefty contracts. Trump's vision for US space dominance may [5] align more closely with Musk's expansive ambitions for SpaceX.

But it is not just about the money. Musk's alignment with Trump highlights also a troubling trend among Silicon Valley elites, who are increasingly prioritizing their economic interests over accountability and the rule of law. By backing Trump, who has a history of undermining accountability and promoting disinformation, Musk and others are potentially jeopardizing the technological landscape they claim to champion. This partnership raises questions about their commitment to ethical governance, especially as they seek to shield themselves from scrutiny. While they may see Trump as a fellow victim of the state, this relationship threatens to reinforce harmful practices that prioritize profit over public welfare.

- Musk's influence and the 2024 election

One of Musk's most powerful tools in the 2024 election is his control over the X (formerly Twitter) social media platform. According to a 2024 Pew Research Center report, [6] nearly half of US adults under 30 get their political news from social media, with X playing a central role in shaping political narratives. 59% of X users cite politics as a significant reason for their engagement [7] on the platform, demonstrating that Musk's control over X has become a powerful tool for Trump's outreach, particularly to younger voters. Musk's control over a major social media platform allows him to promote Trump's campaign, amplify pro-Trump messages, and engage directly with voters. His ability to shape online discourse provides an unprecedented influence in the digital political sphere.

As the 2024 election cycle heats up, Elon Musk's support for Donald Trump raises profound questions about the intersection of wealth, influence, and democratic values. Musk's shift from a Democratic backer to a fervent Trump ally reflects not only personal grievances with the Biden administration but also a broader trend among Silicon Valley elites prioritizing profit over accountability. With Musk's significant financial backing and control of the X platform, his impact on the political landscape could be substantial, amplifying Trump's message and mobilizing younger voters. As we head toward the elections, the implications of this alliance warrant careful scrutiny, as it could shape not only the outcome but also the future of American governance.

[1] https://www.reuters.com/world/us/elon-musk-promises-award-1-mln-each-day-signer-his-petition-2024-10-20/

[2] https://x.com/elonmusk/status/1771994150038118599

[3] https://www.nytimes.com/2023/05/23/us/politics/desantis-elon-musk-twitter.html

[4] https://edition.cnn.com/2021/08/05/business/tesla-snub-white-house-event/index.html

[5] https://www.nytimes.com/2024/09/06/technology/elon-musk-donald-trump-influence.html

[6] https://www.pewresearch.org/journalism/2024/10/10/where-americans-turn-for-election-news/

[7] https://www.pewresearch.org/internet/2024/06/12/how-americans-navigate-politics-on-tiktok-x-facebook-and-instagram/