Elon Musk stands to gain from his ties to President-elect Trump, with Tesla shares surging post-election. Trump's policies, including deregulation and tariffs on Chinese imports, could benefit Musk’s businesses, including Tesla and SpaceX.
Billionaire Elon Musk stands to gain significantly from his relationship with U.S. President-elect Donald Trump, having been one of Trump’s key supporters during the 2024 campaign.
After Trump’s victory over Vice President Kamala Harris, Tesla shares soared nearly 15%, adding around $120 billion to the company’s market value. Musk contributed millions to Trump’s campaign, and Trump has proposed a government efficiency commission led by Musk to reduce federal spending.
Musk's influence is expected to grow further, given his substantial role as a U.S. Department of Defense contractor through his Starlink broadband system and as Tesla's CEO.
Musk has benefited from policies that Trump opposed, such as the solar and electric vehicle (EV) credits in the 2022 Inflation Reduction Act. Trump’s push to reduce EV mandates could potentially benefit Tesla more than its competitors due to the company’s high sales volume.
A group representing the EV industry expressed its willingness to collaborate with Trump, who has pledged to reverse many of the pro-EV policies of the Biden administration.
'HEDGED HIS BETS'
“Musk basically hedged his bets by his association with Trump and likely will get favorable treatment from the Trump administration,” said Dennis Dick, trader at Triple D Trading.
Regulatory approval for Full Self Driving will be a challenge for Tesla, but Musk is likely to secure approvals faster with Trump’s support. Shares of EV companies Lucid Group (LCID.O) and Rivian Automotive (RIVN.O) dropped 5.3% and 8.3%, respectively. Trump's promised tariffs on Chinese imports, especially on EVs, could shield Tesla from competition, analysts said. Shares of China's BYD (002594.SZ) fell 2.3% overnight.
It’s unclear how Musk will address conflicts of interest in sectors like auto, space, health, and AI, or whether he’ll leverage them under a Trump administration’s hands-off regulatory approach.
A role overseeing deregulation would give Musk influence over U.S. policy on AI, space exploration, and EVs, said Mamta Valechha, consumer analyst at Quilter Cheviot.
Musk may use his influence to reduce regulatory oversight. He’s criticized federal reviews of SpaceX and wants faster approval of his autonomous driving technology.
Musk is also a proponent of carbon-free energy, as Tesla is a major supplier of solar systems and batteries. Trump has promised to eliminate the offshore wind industry and rescind unspent funds under the Inflation Reduction Act, Biden’s climate law. However, Republican-led states have benefited from the law; Musk is building his second U.S. EV factory in Texas.
NATO's top transformation commander has issued a stark warning: Europe risks being left behind in the increasingly militarized space race, outpaced by private players like Elon Musk and strategic rivals such as China and Russia.
Elon Musk announced he will sharply reduce his involvement in the Trump administration’s Department of Government Efficiency starting next month, shifting focus back to Tesla amid mounting investor pressure and falling sales.
Elon Musk announced on Saturday that he plans to visit India later this year, following a discussion with Indian Prime Minister Narendra Modi about potential collaboration in technology and innovation.
Tech billionaire Elon Musk, CEO of Tesla, made direct appeals to U.S. President Donald Trump over the weekend to reverse newly imposed tariffs, according to a report from the Washington Post.
A jury trial in the lawsuit filed by billionaire Elon Musk against OpenAI will begin in spring 2026, as determined by U.S. District Judge Yvonne Gonzalez Rogers on Friday.
US President Donald Trump will briefly meet Syria’s new President Ahmad al-Sharaa during his visit to Saudi Arabia, in a move signalling potential policy shifts towards Damascus.
Recent U.S. sanctions on Iran are not constructive when it comes to negotiations, Iran's foreign ministry spokesperson Esmaeil Baghaei said on Tuesday, after the two countries held a fourth round of nuclear talks on Sunday in Oman.
Airline debuts new luxury cabins on Boeing 787-9s while addressing customer concerns over safety and delays at Newark Liberty Airport.
Sweden announced Tuesday it will propose that the European Union to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), aiming to create the world’s largest free trade area.
Albanian Prime Minister Edi Rama has secured a historic fourth term, with his Socialist Party winning the majority in Sunday’s election despite opposition allegations of irregularities.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
A Rafale fighter jet operated by the Indian Air Force has reportedly been shot down for the first time in combat, according to sources cited by CNN, marking a significant and symbolic development in the ongoing escalation between India and Pakistan.
Pope Leo XIV made a surprise visit to the Basilica of Our Lady of Good Counsel in Genazzano. AnewZ covered the event, with journalist Maria Rodriguez Abalde on-site. She witnessed the occasion firsthand and documented key moments. More images and footage will be available soon.
Nissan Motor announced major cost-cutting measures, including the elimination of 11,000 additional jobs and reduced production, as the automaker faces declining profits and tough market conditions.
The European Bank for Reconstruction and Development (EBRD) expects Türkiye’s economy to grow by 2.8% in 2025, a downgrade from its February 2025 forecast, due to weaker domestic and external demand and a tighter-than-expected monetary policy.
Vietnam and Azerbaijan plan to expand cooperation in oil exploration and production. Several energy sector agreements were signed during the recent state visit of To Lam, General Secretary of the Communist Party of Vietnam, to Azerbaijan.
Asian stock markets soared on Tuesday after the United States and China agreed to a 90-day halt in their trade war, easing recession fears and fuelling a region-wide buying spree.
In a notable shift from traditional Republican policy, President Donald Trump has proposed raising taxes on high-income earners to help finance broader tax cuts for middle- and working-class Americans.
US President Donald Trump will briefly meet Syria’s new President Ahmad al-Sharaa during his visit to Saudi Arabia, in a move signalling potential policy shifts towards Damascus.
Recent U.S. sanctions on Iran are not constructive when it comes to negotiations, Iran's foreign ministry spokesperson Esmaeil Baghaei said on Tuesday, after the two countries held a fourth round of nuclear talks on Sunday in Oman.
Airline debuts new luxury cabins on Boeing 787-9s while addressing customer concerns over safety and delays at Newark Liberty Airport.
Sweden announced Tuesday it will propose that the European Union to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), aiming to create the world’s largest free trade area.
Albanian Prime Minister Edi Rama has secured a historic fourth term, with his Socialist Party winning the majority in Sunday’s election despite opposition allegations of irregularities.
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