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Will Trump and Musk’s ‘bromance’ last?

Published: 13 Nov. 2024, 20:00

KIM WON-BAE
The author is an editorial writer of the JoongAng Ilbo.

The biggest contributor to former U.S. President Donald Trump’s victory in the Nov. 5 presidential election is certainly Tesla CEO Elon Musk. He not only announced his support for Trump and made donations but also actively participated in the campaign. He stirred controversy by giving a $1 million check to a voter in a battleground state for his support for Trump. In total, Musk donated at least $132 million to Trump’s campaign.

President-elect Trump declared victory at the Palm Beach Convention Center in Florida in the early morning of Nov. 6. “We have a new star. A star is born — Elon!” he said as he called him a “super genius.”

Why did Musk go “all-in” on Trump’s victory? Businessmen have to get more money out of their investments. In September, Trump said he would create a government efficiency committee to audit the finances and achievements of the federal government. He also said that the committee will be headed by Musk.

In Korea, that would have triggered a heated controversy over the collusion between politics and business. The U.S. media expects that Musk will remove regulations in autonomous driving or space industries that are related to his business activities.

But their interests do not necessarily coincide entirely. Trump wants to expand the use of conventional fossil fuels such as petroleum and reduce subsidies for EVs even though Musk’s main business is producing them. Moreover, Trump’s basic stance is to put pressure on China, which is a key market for Tesla.

In politics, a cause is important, but in the world of business, profit comes first. Can Trump, a “natural-born negotiator,” and Musk, a genius looking into the future, continue to maintain the “bromance” in the future?