The world’s richest man favored Biden in 2020, but has since become a vocal Trump supporter.
Elon Musk began privately gathering support for Donald Trump’s second presidency long before he tweeted his public endorsement on July 13.
Despite his support, Musk was concerned — along with other potential donors — that Trump might use their money to pay his rising legal bills, the attendees said. Others, he acknowledged, might not want to appear on campaign disclosure forms.So he suggested giving to an outside group instead. In May, Musk helped launch America PAC, which in a little over a month reported raising $8.5 million, much of it from Silicon Valley.
A second Trump administration promises a very different environment for Musk, analysts and investors said. Trump could ease Tesla’s regulatory path to delivering a fully autonomous personal vehicle — a goal key to the company’s $700 billion valuation — they said, and dial back federal scrutiny of Tesla and X, as well as a National Labor Relations Board investigation into allegations of harassment at SpaceX.
Neither Trump nor any of his advisers were present at the event, which was convened by the billionaires. on the South Lawn. The electric vehicle summit included Ford, Stellantis and General Motors, along with the United Auto Workers. Tesla, the only nonunion American auto giant, petitioned to be included, but the Biden administration left the company out — a decision Musk later described as “the White House giving Tesla the cold shoulder.”
Last November, the Biden White House condemned Musk for what it called the “abhorrent promotion of antisemitic and racist hate” in his social media feed, contributing to an exodus of advertisers from X. Musk apologized.If Musk was disappointed by Trump’s White House, he soon grew frustrated by Biden’s, according to a person who has known Musk for years.
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