{"id":123160,"date":"2024-11-07T17:38:45","date_gmt":"2024-11-07T10:38:45","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=123160"},"modified":"2024-11-07T17:38:45","modified_gmt":"2024-11-07T10:38:45","slug":"how-elon-musks-130-million-investment-in-trumps-victory-could-reap-a-huge-payoff-for-tesla-and-the-rest-of-his-business-empire","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=123160","title":{"rendered":"How Elon Musk\u2019s $130 million investment in Trump&#8217;s victory could reap a huge payoff for Tesla and the rest of his business empire"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<p>Donald Trump\u2019s election-night address to the country confirmed that one of the evening\u2019s biggest winners\u2014in addition to himself\u2014was Elon Musk.\u00a0<\/p>\n<div>\n<p>Trump spent a hefty portion of his scattered victory speech thanking Musk, who has recently spent more than $130 million and a lot of time and tweets to the conservative political cause. In particular, Trump had high praise for Musk\u2019s rocket company <a href=\"https:\/\/fortune.com\/company\/spacex\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/company\/spacex\/\" rel=\"noopener\">SpaceX<\/a> and its Starlink internet satellites\u2014two business units ripe for government contracts.<\/p>\n<p>\u201cWe have to protect our super geniuses,\u201d the president-elect said. On the campaign trail, Trump said he\u2019ll create a new \u201cgovernment efficiency\u201d position in his administration for the tech CEO, at Musk\u2019s request.<\/p>\n<p>Musk is known to cite government overreach in the face of any fine or penalty. So it\u2019s unsurprising that the multibillionaire has tied himself to Trump, who has promised to roll back regulations.<\/p>\n<p>On top of potentially looser government oversight, Musk\u2019s alliance with Trump may help him secure federal contracts. The <em>New York Times<\/em> <a href=\"https:\/\/www.nytimes.com\/2024\/10\/20\/us\/politics\/elon-musk-federal-agencies-contracts.html\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.nytimes.com\/2024\/10\/20\/us\/politics\/elon-musk-federal-agencies-contracts.html\" rel=\"noopener\">reports<\/a> that SpaceX and <a href=\"https:\/\/fortune.com\/company\/tesla\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/company\/tesla\/\" rel=\"noopener\">Tesla<\/a> have already racked up at least $15.4 billion in government contracts over the past decade. Musk\u2019s colleagues and government officials <a href=\"https:\/\/www.reuters.com\/markets\/us\/how-musks-clout-with-trump-could-enrich-his-companies-2024-11-06\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.reuters.com\/markets\/us\/how-musks-clout-with-trump-could-enrich-his-companies-2024-11-06\/\" rel=\"noopener\">told <em>Reuters<\/em><\/a> the billionaire\u2019s investment in Trump is part of a broader effort to shield his companies from regulation and secure access to government subsidies.<\/p>\n<p>Below are just some of the ways each of Musk\u2019s businesses stands to gain from Trump retaking the White House.\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>SpaceX and Starlink<\/strong><\/h2>\n<p>Tensions between the Federal Aviation Administration and SpaceX are high. In September,\u00a0 Musk called for the resignation of FAA Chief Michael Whitaker over $630,000 in fines levied against SpaceX for violations involving its rocket launches. Musk has said his plans for a department of government efficiency (DOGE) under Trump includes loosening regulations on his rocket launches.<\/p>\n<p>Meanwhile, Starlink, the satellite internet unit of SpaceX, could also <a href=\"https:\/\/www.fierce-network.com\/broadband\/what-trump-win-means-fcc-and-telecom-policy\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.fierce-network.com\/broadband\/what-trump-win-means-fcc-and-telecom-policy\" rel=\"noopener\">get a friendlier reception from the Federal Communications Commission<\/a> under Trump, assuming the president taps Republican commissioner Brendan Carr to replace current chair Jessica Rosenworcel. Carr has called the FCC\u2019s decision in 2022 to revoke $885 million in subsidies to Starlink \u201cregulatory harassment.\u201d And Trump himself has suggested using Starlink\u2019s satellite services for rural connectivity\u2014a potential financial boon to Starlink\u2014as part of the government $42 billion plan for future broadband funding.<\/p>\n<h2 class=\"wp-block-heading\"><strong>X<\/strong><\/h2>\n<p>Following Musk\u2019s $44 billion takeover of what was once Twitter, the Federal Trade Commission <a href=\"https:\/\/mlex.shorthandstories.com\/musks-conduct-in-spotlight-of-us-ftc-privacy-probe-of-x-interview-transcripts-show\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/mlex.shorthandstories.com\/musks-conduct-in-spotlight-of-us-ftc-privacy-probe-of-x-interview-transcripts-show\/\" rel=\"noopener\">investigated whether X and its new owner <\/a>were in violation of an existing FTC data privacy agreement with the company. After his acquisition of the service, now known as X, Musk cut its privacy and security compliance teams that were supposed to keep the company in the FTC\u2019s good graces. Last week, Musk promised some payback by saying that FTC Chair Lina Khan would be fired under a Trump administration. Never mind the fact that Trump\u2019s vice president, JD Vance, has praised Khan for being tough on monopolies.\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>xAI<\/strong><\/h2>\n<p>Musk\u2019s generative AI startup, xAI, has a chatbot that competes against OpenAI\u2019s ChatGPT and other large-language models. Musk is therefore very interested in any regulation that impacts AI.\u00a0<\/p>\n<p>So far, federal talks about passing a broad regulation of AI companies haven\u2019t materialized. But Musk could still intervene by advising Trump on a <a href=\"https:\/\/techcrunch.com\/2024\/11\/06\/what-trumps-victory-could-mean-for-ai-regulation\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/techcrunch.com\/2024\/11\/06\/what-trumps-victory-could-mean-for-ai-regulation\/\" rel=\"noopener\">lighter-touch replacement to the Biden administration\u2019s AI executive order<\/a>, a framework for AI use and development that put some restrictions on AI companies.<\/p>\n<p>In California, Musk backed controversial safety legislation, SB 1047, that would have reined in large AI companies. That legislation was fiercely opposed by venture capitalists and large-scale developers, citing the potentially catastrophic risks of artificial intelligence.\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>Tesla<\/strong><\/h2>\n<p>Federal auto safety regulators last month hit Tesla with a new investigation of its Full Self-Driving mode, which partially automates human driving, after a Tesla driver fatally struck a pedestrian. Musk could use his influence to shape federal auto safety enforcement or the federal regulation of self-driving cars or robotaxis. It\u2019s an area that he cares deeply about, as Tesla hopes to introduce robotaxis to take on more-established competitors like Alphabet\u2019s Waymo and even GM\u2019s Cruise.\u00a0<\/p>\n<p>Musk could also try to lobby Trump about his opposition to the Biden administration\u2019s electric vehicle tax credits, which incentivize EV purchases. \u00a0<\/p>\n<p>Trump\u2019s promise to raise Biden\u2019s existing tariffs on China and other competing nations could also be complicated for Musk. Curbing the import of cheaper EVs would eliminate some of Tesla\u2019s competition in the U.S., but escalating a trade war would also hurt tech broadly by disrupting reliance on China and Taiwan for chips.<\/p>\n<p>Whatever the case, investors are hopeful: Tesla stock spiked 15% following Trump\u2019s victory speech.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Boring Company<\/strong><\/h2>\n<p>Musk\u2019s visions for high-speed transit like Boring Company\u2019s Hyperloop project are stifled by regulation and the limitations of current technology. Instead, it has focused on a lower tech version: Teslas ferrying passengers underground near the Las Vegas convention center. The project has faced an OSHA investigation over <a href=\"https:\/\/fortune.com\/2024\/02\/27\/flirted-death-elon-musk-boring-company-employees-injuries-osha-citations\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/02\/27\/flirted-death-elon-musk-boring-company-employees-injuries-osha-citations\/\" rel=\"noopener\">workplace safety<\/a>. But despite the high costs, complicated infrastructure, and unsafe conditions, Musk has insisted <a href=\"https:\/\/jalopnik.com\/elon-musks-boring-company-leaves-local-governments-arou-1849836671\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/jalopnik.com\/elon-musks-boring-company-leaves-local-governments-arou-1849836671\" rel=\"noopener\">government regulation is to blame<\/a> for tunnel projects in some other U.S. cities falling through. In any case, having allies in the U.S. government could make it easier for Boring win major infrastructure projects.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Neuralink<\/strong><\/h2>\n<p>As founder of brain chip company Neuralink, Musk has criticized lengthy approval processes by the Food and Drug Administration for new drugs and medical devices, claiming at one Pennsylvania rally that \u201coverregulation kills people.\u201d It was later reported that the cancer drug Musk was referencing <a href=\"https:\/\/www.statnews.com\/2024\/10\/24\/elon-musk-bungles-his-criticism-of-u-s-drug-regulators\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.statnews.com\/2024\/10\/24\/elon-musk-bungles-his-criticism-of-u-s-drug-regulators\/\" rel=\"noopener\">was, in fact, approved<\/a>. Still, Musk\u2019s vision for widespread \u201cgovernment efficiency\u201d would likely target the FDA, too, and potentially get his Neuralink speedier approvals. So far, Neuralink has implanted brain devices in two patients with FDA approval.<\/p>\n<\/div>\n<div data-cy=\"subscriptionPlea\">\n<p><b>A newsletter for the boldest, brightest leaders:<\/b><br \/>&#13;<br \/>\n<b>CEO Daily<\/b> is your weekday morning dossier on the news, trends, and chatter business leaders need to know.<br \/>&#13;<br \/>\nSign up <a href=\"https:\/\/fortune.com\/newsletters\/ceo-daily?&amp;itm_source=fortune&amp;itm_medium=article_tout\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/newsletters\/ceo-daily?&amp;itm_source=fortune&amp;itm_medium=article_tout\" rel=\"noopener\">here<\/a>.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/fortune.com\/2024\/11\/06\/elon-musk-donald-trump-tesla-spacex-xai-boring-neuralink\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump\u2019s election-night address to the country confirmed that one of the evening\u2019s biggest winners\u2014in addition to himself\u2014was Elon Musk.\u00a0 Trump spent a hefty portion of his scattered victory speech &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=123160\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-123160","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=123160"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123160\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=123160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=123160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=123160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}