It’s hard to pinpoint when exactly Elon Musk became the figure that he is today. Regarded a tech genius by many people, and a lucky buffoon by as many others, the SpaceX, Tesla and X owner has spent the better part of the past decade attempting to cultivate political relevance. On social media and in traditional press interviews, he has increasingly adopted “edgelord” – reactionary, right-wing, libertarian – positions on gender and media regulation, while championing “free speech” (at least when the concept applies to what he says, rather than what others say about him).
Despite these efforts, Musk failed to catch the attention of the establishment for most of his career – resulting in some historic snubs. But in the last few years, that has started to change. After supporting Joe Biden in 2020 (and actively describing Trump as “probably not the right guy” prior to the 2016 presidential election), Musk has gradually become a Trump supporter during the Biden administration. “Republicans are mostly, but not entirely, on the side of merit & freedom,” he tweeted in July. And the American right is embracing him. “I am for electric cars – I have to be because Elon Musk endorsed me very strongly,” Trump said at a campaign rally in Atlanta, Georgia recently, adding: “I have no choice.”
Musk’s popularity among Republicans isn’t just because of his vocal advocacy for their candidates: it is also a reflection of his growing influence. Musk has spent recent months flexing his wealth and resources to make a greater impact on the US election outcome than mere statements could. After Vice-President Kamala Harris became the presumptive Democratic nominee, X temporarily suspended the account of a political group supporting Harris, after it reported raising $4m for the Harris campaign at a single virtual fundraiser. This was only a few days after users reported that the platform was preventing them from following Harris’s campaign account, @KamalaHQ, which the US representative Jerry Nadler called a “serious and time-sensitive censorship issue”. Deepfake videos of Harris sounding inarticulate were seen by tens of millions of viewers on X. Democratic senators have now called for an investigation into potential censorship on the platform given its potential impact on the election.
Musk’s potential influence also stretches beyond his ownership of X. In an interview with the right-wing commentator Jordan Peterson in July, Musk denied reports that he would personally be donating $45m a month to the Trump campaign, but clarified that he had set up a Political Action Committee (Pac) – a quirk of American politics where groups can funnel money towards political candidates without breaking campaign finance laws – called America Pac, which would predominantly finance Republicans. CNBC has reported that Musk’s Pac was collecting voters’ personal information by inviting them to register to vote, and harvesting the data of those in marginal states for Trump’s campaign instead (America Pac and Musk have both so far declined to comment on the accusation).
The question is: does this really matter? Particularly since Musk took over X in 2022, its cultural influence has been in decline. Its ability to impact politics is patchy and inconsistent, meaning its role in elections has been both overestimated and underestimated (the platform was described by some as the deciding factor in the 2016 US presidential election, but also dismissed as irrelevant to the outcome of the UK general election in 2019). It’s also easy to see Musk as a risible figure, someone with a long history of trying to flex power and instead ending up as the butt of the joke. Even if he’s being taken seriously by the Republican establishment, who will be moved to vote by the weird billionaire who launches rockets?
It is difficult to assess quite how influential the platform will be in this year’s presidential election. Even if X’s influence is waning, Musk still controls a space peopled with politicians, journalists and politically engaged users. His platform could elevate certain stories and individuals, or perhaps direct attention away from those that are less politically expedient. In a race with fine margins, that limited impact can alter outcomes.
But money ultimately remains Musk’s greatest resource, and money is possibly the most important factor in this election. Musk’s ability to funnel millions of dollars into the Trump campaign may well be crucial in the coming months. It’s disturbing to think that one man, known for his impulsiveness and volatility, wields such influence.
No one person can ever “decide” an election outcome. But Musk’s clownish reputation and his platform’s dwindling relevance shouldn’t distract us from his personal wealth and financial influence. His wealth and resources are large and, now that he has been welcomed by the American right, he has increased scope to shape American politics. Putting X aside, we should be concerned that one man has that power.
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