Why Elon Musk is the real winner of the 2024 US Presidential election

UPDATE: Nov. 13, 2024, 1:01 p.m. EST This article was updated to reflect Musk's recent appointment as the leader of the Department of Government Efficiency.

Donald Trump may have won the 2024 presidential election, but Elon Musk may end up being the bigger winner than the soon-to-be 47th President of the United States.

Musk bet big on Trump and spent millions to back him. However, Musk wasn't just doing this out of the kindness of his heart. Many of Musk's companies. including Tesla, SpaceX, X (formerly Twitter), xAI, The Boring Company, and Neuralink, heavily rely on government contracts and subsidies. They have made billions in federal dollars.

Musk's bet has paid off. Since the election, Musk has been a regular figure in Trump's orbit. He reportedly made further inroads with Trump and deepened his influence in terms of making policy and appointment suggestions. Musk was even on a phone call made after the election between Trump and Ukrainian President Zelenskyy.

But, how will Musk play a prominent role in politics and the Trump administration while still running his businesses? It appears that Musk will assemble an "A-Team" to act as his mouthpiece in government. 

Musk's A-Team

"America’s A team is usually building companies in the private sector," Musk posted on X just days after Trump's electoral win last Tuesday. "Once in a long time, reforming government is important enough that the A team allocates time to government. This is that time."

Tweet may have been deleted

Musk appears to be positioning himself to encourage Trump to bring his trusted employees and allies into the administration, aiming to secure favorable outcomes for his ventures.

According to the Financial Times, some of the likely names that Musk will float include individuals like Steve Davis, president of The Boring Company, Musk's tunneling company that is ranked as one of the worst for workplace safety. Davis played an important role with Musk's pro-Trump lobbying group America Pac this year. Davis was also the key figure Musk relied on to cut 80 percent of then-Twitter's employees shortly after Musk acquired the platform now known as X.

Musk will likely also turn to Omead Afshar, who helped Musk with Twitter layoffs and the cutting of 14,000 jobs at Tesla earlier this year.

Musk's most trusted associate Jared Birchall will likely also play a role in Trump's administration, if Musk has any sway. Birchall has been referred to as Musk's right-hand man and runs his family office while also working directly with Musk's xAI, Neuralink, and The Boring Company. Birchall also played a major role in Musk's Twitter acquisition.

SpaceX may benefit the most

The Musk company with the most to gain from relaxed regulations and favorable government contracts is his space exploration company SpaceX. According to the New York Times, Musk asked Trump to consider SpaceX employees for positions with the Department of Defense, including Senior Vice President for Global Business and Affairs Tim Hughes, former Air Force general and SpaceX advisor Terrence J. O’Shaughnessy, and Senior Director of Government Affairs Mathew Dunn.

While Tesla already benefits from tax credits, Musk's EV company will find itself further wrapped up in regulatory issues as it looks to push the autonomous driving capabilities of its planned robotaxi. While most of these conflicts are at the state level, Musk may look to leverage the federal government to exert pressure on these regulators. Peter Scheutzow, Tesla's head of autopilot and AI, and safety chief Suraj Nagaraj, are also potential Musk-backed candidates for roles within the administration.

And, of course, no list of potential Musk candidates would be complete without his fellow Silicon Valley elites. Venture capitalists and hedge funders like David Sacks, Jason Calacanis, and Bill Ackman have all become more active in pro-Musk politics online and could certainly play a role in a Trump administration. Musk's weapon-tech buddies like Palantir co-founder Joe Lonsdale and Anduril co-founder Palmer Luckey could also potentially find a place within Trump's Department of Defense.

Regardless of who Trump picks, things within the U.S. government are looking very good for Elon Musk in the coming years – as long as he stays on Trump's good side.

Department of Government Efficiency

UPDATE: Nov. 13, 2024, 12:04 p.m. EST Just days after this piece was originally published, Trump officially announced the Department of Government Efficiency, headed up by Elon Musk and Vivek Ramaswamy.

In addition to pushing for Trump to choose his appointment recommendations, it appears Musk already got his dream governmental job – a position technically outside of government so he doesn't have to divest from his companies.

The Department of Government Efficiency or "DOGE" isn't a real government agency. It’s a temporary group, with a deadline set by Trump for July 2026, that will provide cost-cutting recommendations aimed at achieving "a smaller Government, with more efficiency and less bureaucracy."

Its hard to imagine that Musk's recommendations won't include slashing regulations and governmental agencies that stand in the way of his companies making even more money.