Elon Musk, 'trading the king makes the world profit'

From supporting the Democratic Party, Elon Musk 'turned sharply' to supporting Donald Trump of the Republican Party. The decision shows the far-sighted vision of the 'king trader'. A week after Donald Trump was re-elected as President of the United States, on November 12, Musk was appointed to an important position in the new administration, opening a special relationship between him and President Trump. The assets of the world's richest man also increased by more than 80 billion USD.

President-elect Donald Trump (red tie) shares a photo of him dining with Elon Musk (brown shirt). Photo: X

From a supporter of the Democratic Party, Musk has switched to supporting Republican candidate Trump , which not only changed his political views but also brought significant financial benefits and power. "King Trader" Musk not only profits from wise investment strategies, but also knows how to take advantage of political relationships to promote his businesses. Publicly supporting the Democratic Party Before the 2024 US election, Musk has always been known as a public supporter of the Democratic Party. During the 2016 presidential election, Musk announced his support for Hillary Clinton, the Democratic candidate, and was one of the major donors to Clinton's campaign in California. According to Bloomberg , Musk was also on the list of major donors to Clinton's campaign, demonstrating his commitment to the Democratic Party at that time. In the 2020 election, Musk publicly voted for Joe Biden, despite previously expressing disagreement with some Democratic Party policies. Musk not only supports Democratic candidates but also funds campaigns and organizations related to the party. He is also known as one of the people promoting initiatives on climate change, renewable energy and clean technology, issues that are of particular interest to the Democratic Party and are often on the agenda. During President Barack Obama's tenure, Musk and Tesla benefited from policies that encouraged clean energy and electric vehicle development. The Obama administration promoted subsidies and preferential policies for companies like Tesla, helping Musk build and develop Tesla as one of the leaders in the electric car market. Tense relationship with Mr. Trump Musk's relationship with Donald Trump has not always been smooth. Throughout Trump's tenure, Musk has criticized several of the administration's policies, especially on the environment. One notable event was when President Trump decided to withdraw the United States from the Paris Agreement on climate change in 2017. In protest, Musk quit the Trump administration's advisory councils, increasing tensions between the two. Additionally, in 2022, Trump attacked Musk on social media, claiming that Musk had visited the White House to ask for subsidies for Tesla projects and even mocked him. Musk responded by saying that Trump was too old to run in 2024.

Elon Musk once "criticized" Donald Trump for being too old to become president. Photo: X

Overall, Musk was a strong supporter of the Democratic Party in both his political actions and his donations before 2020. The billionaire’s support for the Democratic Party reflected his views on social, environmental and technological issues, and also showed that he used his connections with the administration to promote the growth of his own companies like Tesla. Turning Republican All that began to change when Biden took office in 2021. The president’s policies, especially measures related to the United Auto Workers (UAW) union and new regulations on tech companies, made Musk and many other investors uncomfortable. Musk criticized the Biden administration, saying the new regulations made it difficult for tech and electric car companies like Tesla. One of Musk's most notable statements was that Biden was a "puppet" of the UAW, because of what Musk considered unreasonable demands for wages and benefits for workers. With this dissatisfaction, Musk began to support Trump's candidacy in the 2024 election campaign. He believed that Trump, as a businessman, would create a favorable business environment for technology companies and reduce regulations that hindered the growth of Tesla and SpaceX.

On July 14, on his X account, Musk declared his “full support for President Trump” and wished him a speedy recovery after the attempted assassination in Butler, Pennsylvania. Photo: X

Musk has supported Trump not only verbally but also financially. According to reports, Musk has donated at least $130 million to Republican campaigns and supported election campaigns in swing states. He also used the social network X, which he acquired in 2022, to repeatedly show support for Trump, while regularly spreading false information about Vice President Kamala Harris as well as issues such as immigration and voter fraud. Mr. Trump did not spare "winged words" for Musk. When campaigning in York, Pennsylvania, he praised the Tesla CEO's innovative thinking and intelligence, suggesting an important advisory position or even a cabinet position if he were re-elected. Trading the king makes the world profitable After Mr. Trump's victory, Musk reaped clear financial benefits. Overnight, Tesla's stock skyrocketed, pushing the company's market value to more than $1 trillion and adding tens of billions of dollars to Musk's net worth. While spending just over $100 million, the Tesla boss has reaped a huge profit, clearly proving the saying "nothing is more profitable than trading kings". However, the benefits that Musk has gained do not stop at increasing his personal assets. His businesses, including Tesla, SpaceX, and Neuralink, are all dependent on government regulations and policies. In particular, Tesla will need exemptions from agencies such as the US National Highway Traffic Safety Administration (NHTSA) to produce fully self-driving cars by 2026. Musk has also criticized the US Food and Drug Administration (FDA) approval process for Neuralink and may use his relationship with the Trump administration to speed up these processes. In addition, according to CNBC, Musk's companies are also involved in a series of investigations and lawsuits from federal agencies for alleged violations of securities laws, workplace safety, labor and civil rights violations, environmental violations, consumer fraud, vehicle safety, etc.

Elon Musk has been invited to co-lead President-elect Donald Trump's Department of Government Efficiency. Photo: Bloomberg

Given the executive branch's overwhelming power over federal regulators, Musk may be hoping that the agencies will conclude some or all of the 19 ongoing investigations and lawsuits against Tesla, SpaceX, and X. With his appointment to head the Department of Government Efficiency, Musk can continue to use his political influence to change regulations and cut down on what he considers "bloated and costly" government bureaucracies. This will help Musk continue to expand his power and influence in politics and the technology industry. Musk has shown himself to be a skilled "kingmaker" by skillfully leveraging his relationship with the ruling party to gain both financial and power benefits. From a supporter of the Democratic Party, he quickly changed his stance when he saw greater opportunities under a Republican administration. With his "kingmaker" strategy, Musk not only consolidated his business empire but also continued to expand his political influence, a decisive factor in creating power and wealth.

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