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Elon Musk's Influence in Trump’s Administration
2024-11-17 05:40:08
Politics
Business

Elon Musk's Influence in Trump’s Administration

Image courtesy of : AFP (ALAIN JOCARD)

Elon Musk, the world's wealthiest individual, has emerged as a significant figure in Donald Trump's political orbit. Post-election, Musk's presence has been nearly omnipresent, appearing alongside Trump at rallies, victory celebrations, and political meetings.

His influence extends beyond his financial support, having donated $200 million to Trump's campaign, to actively participating in shaping policy discussions and appointments. Musk's role has stirred envy among Trump’s traditional allies, as his involvement in the transition process appears more pronounced than that of official power transition figures.

Trump has humorously acknowledged Musk's pervasive presence, even joking about his inability to 'get rid of him.' Musk’s influence is set to grow, with Trump proposing the creation of a Department of Government Efficiency, or DOGE, which Musk would lead alongside Vivek Ramaswamy.

Despite its non-official status, the department aims to slash government regulations and spending, a move that could benefit Musk's ventures in Tesla, SpaceX, and other enterprises. As the future unfolds, the depth of Musk's involvement in U.S. governance remains to be seen.

Related news on that topic:

Electric Vehicles at a Crossroads

The future of electric vehicles (EVs) hangs in the balance as political dynamics shift in the United States. Elon Musk's support for Donald Trump's policies poses a dilemma for Tesla, particularly with potential cuts to EV tax incentives. Such changes could hinder market growth, especially for middle-income consumers. Despite a growing interest in EVs, the current infrastructure, including charging stations, remains inadequate. Trump's proposed rollbacks of environmental standards threaten Tesla's financial stability by removing state subsidies and CO2 certificate revenue. Additionally, Musk’s increasing involvement in government raises concerns about conflicts of interest. As the landscape of electric mobility evolves, the direction taken by policymakers will be pivotal in determining whether the sector can thrive or falter.

The press radar on this topic:

Tagesschau - Internationale Nachrichten aus aller Welt
24. November 2024 um 12:36

Team des neuen US-Präsidenten Impfgegner, Tech-Milliardär und Hardliner für Trump

Politics
Economy
Technology
US-Wahl 2024 Stand: 11.11.2024 18:43 Uhr After winning the election, the future US President is assembling his team. Some names are already set, while others are still speculated about. Some familiar faces could return. An overview. Elon Musk He supported Donald Trump with particular enthusiasm and a lot of money during the election campaign: Tech billionaire Elon Musk gave away about $1 million a day to Trump supporters over around two weeks. The future US President could reward him with a po..
The Street
2. Dezember 2024 um 18:05

Dogecoin skyrockets as Trump announces Elon Musk’s appointment to DOGE

Politics
Economy
Finance
Elon Musk, world's richest, co-leads new agency DOGE with Trump's former rival Vivek Ramaswamy. DOGE logo features cute cartoon animal, nods to Musk-promoted Dogecoin. Musk previously embroiled in $258 billion insider trading case over Dogecoin. Musk's Tesla, SpaceX involved in government contracts, to benefit from deregulation. Musk donated $118M to fund Trump's successful presidential bid. Dogecoin may reach $1 a coin. DOGE to partner with U.S. Office of Management and Budget for smaller, more..
World - South China Morning Post
16. November 2024 um 20:42

Musk suggests Trump let public weigh in on who should lead US Treasury

Politics
Economy
Finance
Elon Musk, a Trump ally who has been tapped to co-lead a commission on government spending, calls for public input on US Treasury head; endorses Cantor Fitzgerald CEO Howard Lutnick, co-chair of Trump's transition team ahead of Inauguration Day, over hedge fund manager Scott Bessent, citing need to enact change in the financial services firm.
n-tv.de
17. November 2024 um 01:18

Against the "Business as Usual" Election: Musk Names His Favorite for the Finance Minister Position - n-tv.de

Politics
Finance
Economy
Elon Musk, Trump advisor and Tesla CEO, is campaigning on his microblogging service X for Howard Lutnick, CEO of the financial services firm Cantor Fitzgerald, as the new US Treasury Secretary. Musk criticizes investor Scott Bessent as a "Business as Usual" choice. Republican Trump is assembling his cabinet for the second term, after Musk has frequently visited Trump's Mar-a-Lago estate since the presidential election.
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