Elon Musk, who invested more than $100 million and transformed his platform X into a loudspeaker for promoting Donald Trump, is now seen as one of the major beneficiaries of the presidential election.

This billionaire, recognized as the richest man globally, was the sole Fortune 100 CEO to declare support for Trump, doing so immediately following a July assassination attempt during a Trump campaign rally in Pennsylvania.

In the campaign’s closing weeks, Musk went all out, hosting town halls in key battleground states like Pennsylvania and distributing $1 million checks to voters in pivotal areas.

As he mingled with wealthy supporters at Trump’s Mar-a-Lago, Musk shared a photo of a SpaceX rocket launch with the caption: “The future is gonna be fantastic.”

Will Musk’s political gamble pay off?

In his victory speech, Trump indicated that Musk would have a supportive presence in the White House. “A star is born,” Trump remarked about the tech mogul.

This newfound star power could give Musk considerable influence over government policies and the federal agencies that regulate his businesses, including Tesla and SpaceX, which have collectively secured around $15.4 billion in federal contracts in the past ten years, according to Open Secrets.

Typically, presidents enlist business leaders for key roles in their administrations. However, the extent of Musk’s influence could be unparalleled, according to Dan Schnur, who teaches strategic political communications at both the University of Southern California and the University of California, Berkeley.

“If Donald Trump were Willy Wonka, Elon Musk just won all five golden tickets,” Schnur stated. “Trump not only respects Musk, he also holds him in high regard and feels indebted to him. When you combine these factors, it’s hard to picture Musk making requests that Trump wouldn’t approve.”

Musk Might Play a Major Role in Trump’s Administration

Trump has promised Musk an official position focused on reducing government expenditures, dubbing it the “Secretary of Cost Cutting.” Musk has humorously suggested he could oversee a “Department of Government Efficiency,” or DOGE, a nod to his cryptocurrency advocacy.

Musk tweeted about his eagerness to collaborate with Trump on initiatives to reduce government spending, claiming he could cut $2 trillion from the federal budget, although he hasn’t shared any concrete plans on how to achieve that.

Additionally, Musk may influence appointments for the leadership of regulatory bodies that govern his companies, such as the Securities and Exchange Commission and the Federal Trade Commission, noted Erik Gordon, a professor at the University of Michigan’s Ross School of Business.

In a playful meme showing Musk holding a ceramic sink in the Oval Office—referencing when he brought an actual sink to Twitter’s headquarters—Musk captioned it: “Let that sink in.”

According to Gita Johar, a professor at Columbia Business School in New York, such a clear “quid pro quo” arrangement is unprecedented.

“This could establish a very symbiotic relationship that favors Musk,” Johar suggested.

However, Musk having the authority to reshape regulatory agencies he’s previously criticized could raise concerns, as indicated by Kathleen Clark, a law professor at Washington University in St. Louis.

“It’s one thing to include business leaders in advisory roles,” Clark explained. “But the head of any efficiency commission should prioritize public interest, which would be at odds for Musk given his contentious history with federal agencies.”

What A Trump Victory Means for Tesla and SpaceX

Tesla’s stock prices soared on Wednesday as investors projected Trump’s potential return to the White House would favor the electric vehicle manufacturer.

Despite having previously expressed skepticism towards electric vehicles and President Biden’s EV tax incentives, Trump hinted at a change of heart after Musk’s endorsement, stating at an August rally: “I’m for electric cars. I have to be, you know because Elon endorsed me very strongly.”

Wedbush Securities analyst Daniel Ives predicted Tesla could gain over $100 billion in market value. The withdrawal of subsidies would impact Tesla less than other electric vehicle manufacturers.

“We project that a Trump victory could increase Tesla’s stock value by $40-$50 per share,” he detailed in a report.

With direct access to the White House, Musk may have a chance to overcome regulatory barriers for autonomous robotaxis and advocate for congressional approval on a national standard for self-driving vehicles, observers in the business sector tell YSL News.

Elon Musk has had disputes with the National Highway Traffic Safety Administration regarding driver assistance technologies. The safety agency is currently looking into whether Tesla’s “full self-driving (supervised)” feature was linked to four accidents, one of which resulted in a pedestrian’s death.

On election night, Trump praised the contribution of Starlink satellites in helping residents in North Carolina affected by hurricanes.

SpaceX is an important contractor for NASA, and Trump has openly supported Musk’s goal to launch missions to Mars by 2028. “We will send an American astronaut to Mars,” Trump stated in October.

Experts suggest that Musk could gain from reduced regulations, potentially bolstering the growth of XAi, Musk’s chatbot initiative, and Neuralink, his company focused on brain implants, which recently received FDA approval for human trials.

James Pethokoukis, a senior fellow at the conservative American Enterprise Institute, remarked, “Elon Musk and parts of Silicon Valley are very anxious that our economy is overregulated and that a significant overhaul is necessary.”

Musk Sets Ambitious Goals with America PAC

Musk’s ambitions reach beyond this.

Musk is already promoting what he reports to be unprecedented engagement on X, predicting that its influence will grow should Trump secure a second term.

With a net worth estimated at $264 billion, management of a leading social media platform, and 200 million followers who engage with his memes, Musk intends to leverage his personal brand and newfound political influence to advance the conservative cause he has adopted.

“America PAC will continue its work after this election,” Musk mentioned during a livestream on Tuesday while en route to Palm Beach, Florida, to watch the electoral results alongside Trump and his family, asserting that his super PAC plans to “make a significant impact” in upcoming elections.