EconomyLens.com
No Result
View All Result
Friday, October 30, 2026
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Business

Musk’s millions: Five ways the world’s richest man helps Trump

Emma Reilly by Emma Reilly
October 31, 2024
in Business
Reading Time: 9 mins read
A A
1
79
SHARES
984
VIEWS
Share on FacebookShare on Twitter

Elon Musk speaks on stage as he joins Donald Trump during a campaign rally. ©AFP

Washington (AFP) – In an extraordinary twist that has upended an already unpredictable election, the world’s richest man has become Donald Trump’s most influential supporter in his bid to return to the White House. Here are five ways Elon Musk is wielding his outsized influence to help Trump win the election against Kamala Harris:

Related

Carmaker Audi cuts outlook again on China, US woes

Drugs giant AstraZeneca reveals higher profits, savings plan

From minerals to AI, EU and Canada to forge new alliance

Charity crowdfunds millions to buy historic English estate

Utah files criminal charges against prediction market Kalshi

– **Financial powerhouse** – Musk established the America political action committee, or Super PAC, in July with the primary goal of supporting Trump’s campaign and the “Make America Great Again” (MAGA) movement. The Super PAC, which pools campaign contributions for election-related causes, has received approximately $75 million from Musk over the last three months alone and likely more since. Musk’s net worth is estimated at $264 billion, according to Forbes. America PAC has quickly become one of the largest pro-Trump organizations, focusing on Republican voter turnout in seven crucial swing states. The organization has launched controversial initiatives, including cash incentives for voters who refer others to sign a petition supporting the First and Second Amendments to the US Constitution, which protect free speech and the right to bear arms. It has also launched a daily $1 million lottery prize for random petition signatories in swing states. These unusual schemes have sparked legal debates. While some experts argue they violate US electoral law prohibiting payment for voter registration, others maintain their legality. Philadelphia’s chief prosecutor this week filed a lawsuit challenging the prize offer as an “illegal lottery scheme.” Although a judge ordered Musk to appear in court, his lawyers filed a “motion of removal,” moving the case to federal jurisdiction pending a decision.

– **Hit the trail** – Unlike most billionaire backers who remain in the shadows, Musk has emerged as Trump’s most prominent celebrity endorser, making frequent campaign appearances. His first joint appearance with Trump occurred on October 5 in Butler, Pennsylvania — the site of a July assassination attempt on the former president. During the rally, Musk delivered an impassioned speech warning that “this will be the last election” if Trump does not win, claiming Democrats would take control of the country. At New York’s Madison Square Garden, Musk declared to thousands, “I’m not just MAGA, I’m dark Gothic MAGA.” Musk has also conducted solo town hall events, including a marathon question-and-answer session in Pennsylvania that drew big crowds. He has also planned virtual town halls, including on November 5, Election Day.

– **Government cuts** – Trump has promised to appoint the billionaire as head of a new “department of government efficiency,” or DOGE — sharing its name with the Musk-linked cryptocurrency. This appointment would raise significant conflict of interest concerns, given SpaceX’s essential role in NASA missions and Tesla’s dependence on government regulators, particularly for self-driving technology. And SpaceX’s Starlink plays a critical role in providing communication support in war zones and disaster areas across the globe. According to the New York Times, SpaceX and Tesla have secured at least $15 billion in government contracts over the last decade. At the New York event, Musk proposed cutting annual government spending by two trillion dollars, suggesting dramatic changes to public services, including reductions in government pensions and retiree healthcare. Former Treasury Secretary Larry Summers criticized this approach, saying governments are not run like companies. “Respectfully, I think it is idiotic,” he said on Fox News.

– **X at your service?** – Since acquiring Twitter and rebranding it as X two years ago, Musk has transformed the platform. Recent studies indicate increased visibility for right-wing content, while Democratic and left-wing posts have seen reduced engagement. A Washington Post analysis revealed that Republican accounts are posting more frequently and gaining more followers under Musk’s ownership. White House officials have expressed concern about their diminished reach during potential crises, with their average post views dropping from 200,000 to 100,000. While this could be attributed to user exodus following Musk’s takeover, algorithm adjustments may also play a role. A Wall Street Journal investigation found that even accounts following only nonpolitical subjects received predominantly conservative and election-related content, contradicting X’s assurances to advertisers about nonpolitical content exposure.

– **Misinformation megaphone** – Musk has used his account of more than 200 million followers to promote Trump’s platform, particularly regarding immigration and transgender issues. He has also spread debunked conspiracy theories about rigged voting machines — arguments the Trump campaign will leverage if defeated. A New York Times analysis of Musk’s X posts over five days last month found nearly one-third of his 171 posts contained false information or lacked context. He has amplified conspiracy theories, including assertions that Democrats are “importing” migrants for voting purposes and false stories about immigrants from Haiti. According to the Center for Countering Digital Hate, Musk’s false or misleading election claims on X accumulated nearly 1.2 billion views in just a few months.

© 2024 AFP

Tags: Donald TrumpElon Muskpolitics
Share32Tweet20Share6Pin7Send
Previous Post

US Fed’s favored inflation gauge cools in September

Next Post

Musk a no-show at $1 mn giveaway US court hearing

Emma Reilly

Emma Reilly

Related Posts

Business

Bugatti CEO to stop leaving keys inside cars after Chiron theft

October 29, 2026
Business

French court rules Meta must negotiate over rights payments

October 29, 2026
Business

Airbus aims for record deliveries despite disappointing quarter

October 29, 2026
Business

Real Madrid apologise to China over Mbappe comments

October 28, 2026
Business

China says takes Mbappe apology ‘seriously’ after Mao remark

October 28, 2026
Business

Mbappe furore rages on in China, but Mao comments censored

October 28, 2026
Next Post

Musk a no-show at $1 mn giveaway US court hearing

US election, tech jitters rattle global stocks

OpenAI releases ChatGPT search engine, taking on Google

Apple narrowly beats estimates with boost from iPhone sales

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
1 Comment
Oldest
Newest Most Voted
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

104

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Spanish inflation stays at three-year high before election

October 30, 2026

German economy logs 0.2% growth, faster than expected

October 30, 2026

Drugs giant AstraZeneca reveals higher profits, savings plan

October 30, 2026

BP net profit quadruples as Mideast war lifts oil prices

October 30, 2026
From EconomyLens

Clear insights, straight to your inbox.

Get the stories and perspectives shaping the economy.

EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Your Privacy Choices

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2026 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.