Trump, Musk alliance may threaten Harris in 2024 election

NASHVILLE, Tenn. —  Former President Donald Trump‘s extremely anticipated keynote handle on the largest bitcoin gathering of the yr began over an hour late.

As the group of buyers, lovers and the crypto-curious grew more and more antsy on the Bitcoin Convention in Nashville, Elon Musk‘s personal jet was touching down 200 miles away in Memphis, Tennessee.

It was July 27, simply two weeks after Trump had survived an assassination try in Pennsylvania. Hours later, he’d been publicly endorsed by the Tesla CEO for a second time period.

Inside Nashville’s Music Metropolis Middle, rumors had been swirling all week that Musk would make a shock look on the convention, and possibly even average a hearth chat with Trump.

Musk did not present, however he was very a lot current.

“I like Elon. He is nice,” Trump advised the group. “He endorsed me and nice endorsement and all the things else, however not all people has to have an electrical automobile.”

But Trump’s feedback in Nashville had been notably toned down from what he’d mentioned about Musk only a week earlier at a rally in Michigan.

“I like Elon Musk … we’ve to make life good for us good folks. And he is as good as you get,” Trump mentioned on the time. “He provides me $45 million a month! C’mon. Not $45 million. He provides me $45 million a month.”

He continued, “I imply different guys, they offer you $2 and you bought to take them to lunch, you bought to wine ’em and dine ’em.”

So what occurred between July 20 in Michigan and July 27 in Nashville to tamp down Trump’s gushing reward? The reply seems easy: On July 22, Musk denied the extent of the pledge.

“What’s been reported within the media is solely not true,” Musk advised podcaster Jordan Peterson. “I am not donating $45 million a month to Trump.” In a July 25 submit on X, the social media firm he owns, Musk mentioned he was making donations to a political motion committee supporting Trump “however at a a lot decrease stage.” 

The connection between Musk, the world’s wealthiest particular person, and Trump, the Republican nominee for president, is as unstable because the characters themselves. Over time, they’ve made enjoyable of one another, talked down to at least one one other and brought reverse sides on key points. However of late, they’ve emerged as parallel heroes to the far proper, a gaggle that features a wholesome dose of crypto lovers, and are united in a single quest: defeating Democrats in 2024.

How far Musk is prepared to go to financially assist Trump in his marketing campaign, now in opposition to Vice President Kamala Harris, is one other matter. Musk arrange an excellent PAC referred to as America PAC days after endorsing Trump, but it surely’s not clear how a lot cash he is contributed, and the North Carolina Lawyer Normal’s Workplace mentioned Monday that it is eyeing the group following a criticism that it is amassing private information whereas failing in its promise to assist customers register to vote.

The Federal Election Fee web site exhibits restricted monetary contributions from America PAC. Federal filings listing complete disbursements of $7.78 million from April 1 by June 30, principally for 2 transactions: $3.87 million to “assist” Trump and the identical quantity to “oppose” President Joe Biden.

Based mostly on Trump’s social media commentary, extra about their relationship could also be coming quickly. Trump wrote in a submit on Reality Social on Tuesday that the 2 shall be talking collectively publicly subsequent week.

“ON MONDAY NIGHT I’LL BE DOING A MAJOR INTERVIEW WITH ELON MUSK — Particulars to comply with!” Trump wrote.

Musk did not reply to a request for remark for this story. Steven Cheung, communications director for the Trump presidential marketing campaign, mentioned in an e mail, “Keep tuned! Very thrilling stuff!”

As not too long ago as 2022, Musk and Trump had been locked in an open feud, publicly slinging insults at one another on social media, at political rallies and elsewhere.

“I do not hate the person, but it surely’s time for Trump to hold up his hat & sail into the sundown,” Musk wrote in a 2022 social media submit.

That very same yr, Trump referred to as Musk a “bull—- artist,” claiming the tech exec advised him privately that he’d voted for him.

What had turn out to be clear was that Musk wasn’t going to assist a Biden reelection.

Musk mentioned he’d voted for Biden in 2020, however the next yr the president left Musk out of an EV summit on the White Home, the place he met with high executives from Normal Motors, Ford and Stellantis. Musk wrote in a tweet, “Yeah, appears odd that Tesla wasn’t invited.”

Biden is a pro-labor president, whereas Tesla is non-union and has run afoul of federal labor legal guidelines.

By 2022, Musk indicated he was leaning towards Ron DeSantis, Republican governor of Florida, as chatter concerning the 2024 election ramped up. DeSantis ended up launching his presidential marketing campaign in a Might 2023 livestream on X, which Musk owns. The stream with Musk and longtime pal David Sacks was a technical catastrophe, suffering from glitches. DeSantis’ marketing campaign fizzled and formally got here to an finish in January.

Two months later, Musk reportedly headed right down to Trump’s Mar-a-Lago resort in Florida, as Trump was making an attempt to rally donor assist. In an interview on CNBC’s “Squawk Field” on March 11, Trump spoke positively about Musk, saying he is been “pleasant with him through the years,” had “helped him” when he was president, and that he “appreciated him.”

“We clearly have opposing views on a minor topic referred to as electrical vehicles,” Trump advised CNBC’s Joe Kernen. “I am all for electrical vehicles, however you must have the entire alternate options,” he mentioned, including that EVs “price an excessive amount of and so they’re all going to be made in China.”

No matter variations the 2 could have on EVs, they’re more and more aligned politically. Each have described Harris as a communist and are vulnerable to lashing out at something involving DEI — variety, fairness and inclusion. They’re vocal in opposing transgender rights. Each have unfold false stories about noncitizens voting in U.S. elections.

Former Ford CEO Mark Fields mentioned it isn’t nearly politics for Musk. Between his varied firms —Tesla, aerospace and protection contractor SpaceX, social media firm X and AI startup xAI — Musk has plenty of tasks that would use help from the White Home.

“The underside line, a constructive relationship with the president has plenty of advantages, not solely doubtlessly for Tesla, for issues like autonomy or AI or robotics, however his different companies like SpaceX,” Fields mentioned in an interview in July with CNBC’s Brian Sullivan. “You possibly can say to the president, ‘Hey, you understand Boeing are convicted felons, so give me a majority of your enterprise.'”

Trump has additionally mentioned he would place steep tariffs on items from China, a market the place Tesla faces rising competitors.

Musk “is aware of that he could take a tougher stance in opposition to China, and which will assist them within the U.S., as a result of that is considered one of their largest and most worthwhile markets,” Fields mentioned.

On Saturday in Atlanta, Trump continued with that theme, telling the viewers that he was “for electrical vehicles.” He added, “I’ve to be, you understand, as a result of Elon endorsed me very strongly. So, I’ve no alternative.”

Musk, in the meantime, has been transferring rightward politically for years, and never simply within the U.S. He is developed relationships with Italian Prime Minister Giorgia Meloni, Argentinian President Javier Milei, former Brazilian President Jair Bolsonaro, Indian Prime Minister Narendra Modi, and in July he visited Capitol Hill because the visitor of Israeli Prime Minister Benjamin Netanyahu, who delivered a speech to Congress concerning the conflict in Gaza.

Regardless of his vocal assist of Trump, Musk seems to have caught by his pledge to not donate on to candidates this election cycle, going the PAC route as a substitute.

As an alternative, Musk is utilizing X to tout his most popular candidate to his 193 million followers.

On the day of Trump’s speech in Nashville, Musk wrote “Save our youngsters!” together with a video of Trump in West Palm Seaside, Florida, the place he mentioned he would signal an government order to chop federal funding to colleges “pushing vital race principle” and “transgender madness.”

After which there was Musk’s retweet of a parody Kamala Harris marketing campaign advert. The video incorporates a voice that appears like Harris saying she was picked as a result of she is “the final word variety rent.” The video wasn’t labeled as deceptive, in what seems to be a violation of the platform’s guidelines.

Whereas Trump has his justifiable share of assist in tech, going properly past Musk, many within the trade are rapidly rallying round Harris. As of this week, greater than 750 folks in and round enterprise capital signed the “VCs for Kamala” pledge, which was first introduced on July 31.

In an op-ed within the Monetary Occasions on Monday, legendary enterprise capitalist Mike Moritz took goal at Trump’s supporters in Silicon Valley and mentioned they’re “making a giant mistake.”

“They’re, I believe, seduced by the notion that due to their means, they are going to be capable to management Trump,” Moritz wrote. “And, I think about they’re additionally committing one other cardinal error: deluding themselves that he won’t do what he says or guarantees.” 

— CNBC’s Brian Schwartz and Christina Wilkie contributed to this report.