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.
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Despite its economic might, the European Union is often labelled a “geopolitical dwarf.” The only region where it acts as an indisputable player, able to assert its will with relative ease, is the Western Balkans, along with parts of Eastern Europe.
Russian troops in Ukraine have lost access to Starlink internet terminals after Kyiv and SpaceX moved to block unauthorised Russian use, a disruption Ukrainian officials described as a major blow to Moscow’s battlefield operations.
Tech billionaire Elon Musk said the search at his social media platform X offices in Paris on Tuesday by French authorities was a "political attack".
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
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