Elon Musk, the world’s richest man, recently experienced a massive financial surge, adding $15 billion to his net worth in a single day following the 2024 U.S. election. This 11,538 percent return on investment, from the estimated $130 million he poured into Donald Trump’s campaign, signals that Musk is looking at this victory as much more than a political shift. But what does Musk, and his various ventures, actually stand to gain from a second Trump presidency?
The Musk-Trump Evolution: From Skepticism to Support
Musk’s support for Trump wasn’t always so certain. In fact, back in 2022, Musk famously urged Trump to “sail into the sunset” after the former president labeled Musk “another bullshit artist.” Their sporadic feud traces back to 2017, when Musk left Trump’s advisory councils after the U.S. pulled out of the Paris climate accords. Since then, Musk’s political outlook has been shifting to the right, although he initially backed Ron DeSantis over Trump in the Republican primaries. But after DeSantis dropped out, Musk went all in for Trump, contributing heavily to his campaign through his America PAC.
From organizing rallies to rolling out the now infamous $1 million-a-day voter “lottery,” Musk took a very public stance to boost Trump’s visibility. And while the impact of Musk’s unconventional tactics on Trump’s success is debatable, the billionaire’s influence is now deeply interwoven with Trump’s political future.
What Musk Stands to Gain from a Trump Administration
The new administration could have a significant impact on Musk’s many businesses. Here’s a closer look at some of Musk’s potential gains from Trump’s return to the White House:
1. Easing Federal Investigations: Musk’s empire—Tesla, SpaceX, NeuraLink, and Twitter (now X)—currently faces at least 20 federal probes. The Justice Department, Department of Labor, and Transportation Department, along with the Securities and Exchange Commission and the Federal Trade Commission, have ongoing investigations into potential violations across his businesses. With Trump in office, Musk might see some of these investigations dialed back, stalled, or even dismissed, depending on Trump’s appointees in these agencies.
2. Government Contracts: SpaceX alone has secured $16 billion in government contracts over the past decade, and Musk’s ventures, including the satellite internet service Starlink, could stand to benefit even more under a Trump administration. With NASA, and potentially a Trump-appointed administrator, relying heavily on SpaceX for missions, Musk’s businesses are positioned to continue thriving with public funds. Starlink, for instance, could rake in billions more under Trump, who may prioritize its use in U.S. military and emergency services.
3. Department of Government Efficiency (DOGE?): Musk has floated the idea of a federal department aimed at improving government efficiency—a potential “Department of Government Efficiency” or DOGE, named after one of his favorite internet memes. Though still speculative, such a department could see Musk wielding direct influence on government spending and operations, with Musk himself projecting cuts of up to $2 trillion from the annual budget.
The Power Play: Trump’s Risk in a Musk Alliance
As Trump prepares to take office, he may find himself in a complicated alliance. Musk has unprecedented leverage over Trump, not only because of his financial power but also because Musk owns X, the platform that hosts Trump’s influential @realdonaldtrump account. When Musk took over Twitter in 2022, he initially deferred to a “content moderation council” to decide whether Trump’s account would be reinstated. Musk eventually reactivated it through a user poll. Should their alliance falter, Musk could easily moderate or restrict Trump’s account, potentially limiting his communication platform.
Additionally, Musk’s America PAC plans to support political candidates through the 2026 midterms, which could keep Trump reliant on Musk’s influence if he wants to maintain a Republican-led Congress.
A Power Struggle Between Billionaires?
While Trump has the authority of the White House, Musk holds significant economic power and influence. With a net worth of $292 billion compared to Trump’s estimated $4 to $8 billion, Musk could emerge as the most influential figure in Trump’s administration—a “shadow president” whose influence could redefine the role of billionaires in U.S. politics. Whether Musk’s role remains behind the scenes or evolves into a more overt partnership, the next four years could see a blend of political and economic power like never before.
What Elon Musk Stands to Gain from a Trump Second Term
