Elon Musk, the world’s richest person, will be taking on an official role to try to help President-elect Donald Trump make government more efficient. It will add yet another responsibility to an ever-growing to-do list for the increasingly distracted CEO and business leader.
Musk, chief executive of Tesla and SpaceX, owner of X and CEO of other ventures, including Neuralink, xAI and the Boring Company, is already a busy guy. Even if the Trump job is just a side hustle , it’s one more thing for Musk to do that isn’t running the world’s most valuable car company. But here’s the thing: Musk’s recent distractions may not ultimately matter for his businesses. And there’s actually a strong case to be made that they’re paying off for investors.
Trump has stated his disdain for electric vehicles, but that ultimately may not matter much for Tesla – in fact, eliminating tax credits may help Tesla by reducing competition that relies more heavily on them to boost sales demand. Also, multiple federal investigations of Tesla’s self-driving technology could vanish, Ives said. Meanwhile, SpaceX continues to keep a leg up on the competition, and an era of deregulation under Trump could similarly help the company.
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