Financial Times: Elon Musk expands his influence after Trump’s victory | economy

The Financial Times said: Elon MuskCEO of Tesla and X, has become one of the most influential advisors to the US President-elect Donald Trump.

The newspaper noted that Trump described Musk, saying: “Elon is a genius. We have to protect our geniuses, as we do not have many of them,” which reflects the extent of the importance that the president-elect attaches to Musk in his upcoming plans.

According to what was published by the Financial Times, Musk – whose fortune is estimated at $260 billion – will take on an influential advisory role in the Trump administration, where he will lead a proposed new ministry called the “Ministry of Government Efficiency.” This ministry, according to the newspaper, will give him broad powers to restructure the federal bureaucracy. , which Musk considers “a major obstacle to America’s development.”

Supporting digital transformation and vital sectors

As the prospect to head the Department of Government Efficiency, Musk intends to directly influence US policies in the sectors of artificial intelligence, space exploration, and electric vehicles..

These areas overlap – according to the Financial Times – with Musk’s personal interests through his leadership of companies such as “XAI”, “SpaceX” and “Tesla”.

Trump expressed his deep appreciation for Musk, describing him as a “unique personality and a rare genius,” cementing Musk’s position as an active and influential element in American politics.

Musk intends to directly influence US policies in the sectors of artificial intelligence, space exploration, and electric cars

Hold to the right

The newspaper notes that in recent years, Musk has taken sharp political positions towards the right, despite his past of voting for Democratic candidates such as Biden and Hillary Clinton.

His public support for Trump on issues related to immigration and regulation reflects a remarkable shift, especially after he survived an assassination attempt last July.

According to a Financial Times report, Musk made donations exceeding $100 million to the pro-Republican America PAC committee, and worked to boost electoral support for Trump in innovative ways.

Musk’s support for Trump was not just an expression of political loyalty, but a strategic investment that included funding a free speech campaign and providing $1 million a day to support a petition promoting constitutional rights.

Musk’s support of Trump wasn’t just an expression of political loyalty, it was a strategic investment

The report confirmed that Musk used the X platform, which he owns, to promote pro-Trump messages and accusations of election fraud. On Election Day, Musk posted about 200 tweets, reaching 955 million views, which contributed to enhancing his popularity and influence.

Musk achieved tangible financial returns from his political investments, as Tesla shares rose by 13% after Trump’s victory, which added significant value to Musk’s personal wealth.

Daniel Ives, an analyst at Wade Bush, explained that Tesla possesses advanced capabilities that make it able to continue even in an environment lacking government support.

Did Musk mislead the public?

Although Musk received widespread praise from Trump supporters, his role in publishing political content via X was subject to numerous criticism.

A Financial Times analysis revealed that Musk was accused of using the platform’s algorithms to support right-wing narratives and spread misinformation about the election, as the fact-checking group Polity Fact showed that Musk published 450 posts in the first weeks of October, which included misleading information, and attracted… 679 million views and 5.3 million likes.

Silicon Valley for the White House?

Musk received support from influential figures in Silicon Valley, in addition to Trump’s allies. Musk is expected to bring with him to the White House a group of his allies from… Silicon Valleyincluding investor David Sachs and Anduril defense technology founder Palmer Luckey.

According to the report, Musk pointed out the importance of opening the US Department of Defense to innovative startups, stressing that his role will extend to include paving the way for entrepreneurs to access large government projects.

Musk expressed his intention to restructure government ministries and remove duplication of responsibilities between agencies.

According to the Financial Times, Musk said: “We have to reduce bureaucracy, but the rules should only be necessary,” likening the current situation to a stadium that has more referees than players.

The report indicated that it plans to pay the salaries of government employees for a period of up to two years, to help them move to the private sector, and Musk announced his intention to continue to play an active role in American politics.

In what is considered a major step, Musk is preparing to lead the proposed Ministry of Government Efficiency, as he aims to comprehensively change how American government institutions are managed.