How does Elon Musk impact the U.S. Elections?

The U.S. citizens will choose their new President in just a couple of weeks. When this historical campaign comes to the finish line, some unexpected figures influence the race for the White House. Even though Elon Musk has been supporting Donald Trump for years, his efforts recently became extraordinary.

X, PACs, multiple calls

According to some analysts, Elon Musk is the richest man in the world. However, none of the biggest entrepreneurs in history contributed that much to the certain candidate—at least not officially. Until the beginning of October, Musk kept talking with Trump behind closed doors about the campaign and the future after November 5th. Recently, he entered the eye of the storm and stood next to Trump during a campaign event in Pennsylvania.

Even though he said in March that he wouldn’t donate to the upcoming campaigns, Musk’s America PAC has already contributed $80 million, according to the official data.

Read more about donations during the U.S. elections and how they work.

The owner of Tesla heavily engages in supporting Trump not only because of his beliefs. The former President and the Republican candidate would like to limit crypto, AI, and hi-tech regulations to let these projects develop faster and more efficiently. For Musk, who might become Trump’s personal advisor in case of his victory, this may result in entering a new level for his companies. Moreover, it could result in rapid movements on the NASDAQ index, focused directly on hi-tech equities.

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The power of social media

The way people absorb information has changed throughout the years. People are more interested in shorter content, both videos and texts. That’s why the X (formerly known as Twitter) possesses incredible strength.

Elon Musk, who owns this social media platform, understands the importance of shaping society with X. He has over 200 million followers, and that’s just a tip of the iceberg when talking about his impact on the platform. Promoting accounts with conservative views and disregarding Kamala Harris on a day-to-day basis—that’s how X looks these days.

Elon Musk: Recent business ups and downs

Engaging in the presidential campaign is one of many things that matter when it comes to Elon Musk. His recent political activity didn’t stop him from crossing other borders.

On Sunday, October 13th, SpaceX made its fifth Starship test launch. The results were immense – the biggest rocket (or any other flying object) almost perfectly landed in the middle of the Indian Ocean. The start from Texas was also right. This operation may be another milestone in the development of traveling in space.

On the other hand, Tesla can’t talk about a successful week. The official test of robotaxi—the autonomous vehicle prototype—didn’t go as planned, and Tesla’s stocks plummeted. On the other hand, ride-share equities, such as Uber stocks, recorded a significant rise at the Friday session.

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U.S. Elections: As things stand

Three weeks before D-Day, anything can happen. Both Kamala Harris and Donald Trump have a realistic chance of winning the presidential elections. Several polls slightly differ—some present Harris’s modest victory, while others suggest Trump can be the winner. Nevertheless, in such a tight race to the White House, the support of influential people like Elon Musk can tip the scales in favor of one of the candidates.

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