"The Always Winning" Musk: Is Trump Just the Beginning of Political Ambition?

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2024.11.07 07:58
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Elon Musk, the world's richest person, the largest online information platform owner, and a major representative of the Republican Party, will redefine the way corporate giants engage in politics

Trump won, but the biggest winner may be Musk.

At the victory press conference, Trump specifically thanked Musk, rambling for 10 minutes about Musk's big rockets and Starlink, as if thanking the top supporter.

Musk's all-in "bet" on Trump's success has given him unprecedented political influence—he always uses his wealth and public influence to push his business and political agenda, and he has "always been winning."

Musk has formed and funded the American political action committee "America PAC" with at least $118 million, which will continue to operate and prepare for the midterm elections for the U.S. presidency. Musk also stated in a live broadcast on social platform X that America PAC will "make a significant impact" in the next round of House, Senate, and even some local elections.

Currently, the market is concerned about whether Musk can translate his support for Trump into substantial policy influence. For example, will Musk try to persuade Trump to avoid initiating trade conflicts, and can he convince the Trump administration to approve autonomous vehicles nationwide...

Is Trump just the beginning of political ambition?

Republican strategists say wealthy donors often use their substantial financial resources to shape the political landscape, but Musk is different—in addition to his powerful financial resources as the world's richest person, Musk also has hundreds of millions of fervent online followers, control over the important social media platform X, and a willingness to engage in politics.

Former Republican National Committee digital director Tyler Brown stated:

"The richest person in the world, who is also the owner of the largest online political information platform, has become one of the main representatives of the Republican Party. We have seen these factors exist separately before, but rarely have we seen them combined."

Therefore, Musk is able to redefine how corporate giants engage in politics.

However, while some Republican strategists express eagerness for Musk to invest his money and energy into Trump's new administration and the MAGA movement, others are skeptical about Musk's long-term political commitment. (MAGA: Make America Great Again)

Venture capitalist and former Republican congressional candidate Blake Masters stated that he does not believe Musk will become "a predictable institutional participant." Masters said:

"I can only say that the only thing you can predict is that his involvement will be less predictable and more tailored to specific situations. Outstanding investors like Musk are least likely to become a cash cow for a political advisory team, allowing them to 'suck blood.'"

Musk, who has "always been winning"

Musk's help in getting Trump back to the White House undoubtedly benefits him greatly.

Analysts at Wedbush Securities stated, on the surface, Trump's administration may not seem like good news for Tesla, as Trump might cancel electric vehicle incentives, but in reality, this is beneficial for Tesla because Tesla's competitors rely more on these incentive policies—yesterday, Tesla's stock rose by 14.75%In addition, industry experts have stated that Musk's aerospace and automotive companies were already major federal contractors, but under the Trump administration, they are expected to secure more contracts potentially worth billions of dollars.

Moreover, Tesla is working on launching a self-driving taxi without a steering wheel or pedals, a goal that requires federal approval.

It has been a long time since Musk last "bet wrong," and he always gets what he wants; each success makes him bolder:

Musk hoped for Trump's victory—according to CFRA Research, he invested over $130 million in this campaign and ultimately got his wish.

Musk wanted to acquire Twitter—although he later regretted paying the hefty price of $44 billion, he did successfully acquire it.

Musk aimed to secure one of the richest executive compensations in history—although this plan was initially put on hold due to intervention from a Delaware judge, he ultimately got what he wanted.

He hoped SpaceX would receive stable government contracts—he indeed continued to secure these contracts.

He wanted to retain the right to use Tesla's "Full Self-Driving (FSD)" system on the roads—despite the fact that the system is not truly fully autonomous and has undergone multiple regulatory reviews, he still successfully obtained this right