How Elon Musk Became a Kingmaker

How Elon Musk Became a Kingmaker

Who Did We Just Elect?

Wait a second. Who exactly have we just elected? The Republican ticket was headlined by Donald Trump and J.D. Vance, yet at times during this chaotic November, it felt like someone else was steering the ship of our collective future.

We’re already familiar with him from various high-profile roles—the entrepreneur who acquired Twitter and eliminated a significant portion of its workforce, the visionary who revitalized the space industry, and the automotive magnate whose innovative trucks draw awe from passersby. Suddenly, Elon Musk has transitioned into the political arena, leading rallies, influencing government appointments, and shaping the upcoming President’s agenda.

For over three years, Musk has been among the wealthiest and most influential figures globally. His tweets can send markets soaring or crashing, astronauts travel in his spacecraft, and military operations receive critical data from his satellites. Conspiracy theories gain traction through his endorsement. However, it was during this electoral cycle that the full scale of his influence became apparent.

Not since the days of William Randolph Hearst, the newspaper tycoon who played a crucial role in FDR’s rise nearly a century ago, has a private individual exerted such a significant impact across so many aspects of American life—culture, media, economy, and now, politics. Standing alongside him, even Trump appears almost awestruck, more as a partner than a leader to a man whose ambition seems limitless.

Elon Musk Time Magazine cover
Photo-Illustration by TIME (Source Image: NurPhoto/Getty Images)

For now, they seem to operate as collaborators, united by their mutual interests and desire to shake up the established order. They may appear to speak with one voice for a time. However, their objectives do not perfectly align. Both are headstrong, impulsive, and accustomed to leadership. What will transpire if their paths diverge?

In such a scenario, Musk could find himself at a disadvantage. History is littered with the remnants of kingmakers who fell out with the leaders they helped elevate. Regardless of Musk’s wealth or sway, the machinery of state power remains firmly in the President’s hands, and the situation could become chaotic if he chooses to wield that power against the billionaire who facilitated his return to the White House.

Ultimately, the sustainability of their partnership may hinge on Musk’s true intentions: What motivated him to align himself with the MAGA movement in the first place? If his primary goal was financial gain, then he has certainly succeeded.

In the week following the election, his wealth skyrocketed by over $50 billion, reaching a high of more than $320 billion, as investors clamored for Tesla shares. Yet, wealth has never been Musk’s sole obsession. His willingness to invest his fortune into ambitious projects, such as creating a greenhouse on Mars, indicates he envisions a future that diverges from the mundane pursuits of the average business mogul.

Read more: Why Elon Musk Was Person of the Year for 2021

Those close to Musk assert that his ultimate objective remains unchanged since he founded SpaceX in 2002. (Notably, among its investors are Marc and Lynne Benioff, the owners of TIME.) For over two decades, Musk’s obsession has been Mars. It’s emblazoned on his favorite T-shirt: OCCUPY MARS. “Everything centers on that mission,” a close associate relayed after discussing Musk’s plans with him. “He’s come to understand that having control, directly or indirectly, over U.S. government budgets will expedite our journey to Mars within his lifetime. Pursuing it privately would take longer.”

This doesn’t imply that American taxpayers will bear the costs of Musk’s aspirations for interplanetary exploration. Yet, the public often pays a price when unconventional visionaries take charge of governance. Millions of Americans, from retired factory workers to financially burdened graduates and infants, rely on social programs that Musk has signaled he intends to cut. Despite regularly tweeting to his 205 million followers, Musk has evaded inquiries from journalists, including those regarding his reported interactions with foreign powers like China, Russia, and Iran. He has also not addressed the potential conflicts of interest arising from his influential role in a government that scrutinizes his enterprises.

Thus far, Trump seems willing to humor him. During his victory speech on November 6, he spent several minutes extolling Musk, the “super genius” who helped drive his campaign in Pennsylvania, reportedly compensating canvassers to cover 11 million doors and organizing transportation for Amish voters to the polls. “We have a new star,” Trump declared from the podium in Florida. “A star is born—Elon!” Only later, approximately 19 minutes into his address, did the President-elect return to his script and remember to thank his supporters.


What Musk Represented

Musk’s significance to the Trump campaign transcended the $120 million he contributed, the grassroots efforts he initiated, and the social-media momentum he provided. To many young men who flocked to Trump in unprecedented numbers, Musk embodied an ideal. He infused a sense of creativity and opportunity into a campaign steeped in nostalgia. While Trump excites his supporters with promises to dismantle corrupt institutions, Musk symbolizes the potential for innovation and problem-solving. With Musk, Trump appeared less dated at his rallies, and it became more challenging for Trump’s critics to dismiss his team as a collection of fools when the greatest innovator of our time committed to cutting $2 trillion from the budget.

Elon Musk at America First Policy Institute gala
Elon Musk attends an America First Policy Institute gala at Mar-a-Lago, Nov. 14, 2024.
Haiyun Jiang—The New York Times/Redux

Regardless of how often Democrats highlighted Trump’s wealth stemming from inheritance and corporate missteps, they could not refute Musk’s credentials as a businessman. Even Senator Bernie Sanders, a critic of billionaires, softened his stance in a recent podcast: “Elon Musk is an exceptionally aggressive and capable entrepreneur, impressive in what he has achieved. He argues he could accomplish more in a week than the government can in five years, and in some cases, he’s correct.”

At a time when faith in government is waning, many voters are looking for a capable outsider—ruthless and independent—who can streamline a vast bureaucratic machine. Musk’s promise to do just that has created momentum for cutting costs in a manner not seen in Washington for years. This agenda faced hurdles during Trump’s first term, given the millions dependent on government jobs and the protections regulators provide against exploitative businesses responsible for issues like opioid addiction. Nevertheless, small-government Republicans are eager to follow Musk into contentious budget debates over federal waste and excessive entitlements, and many Americans will support them.

Throughout his campaign, the most compelling case Musk made wasn’t on Joe Rogan’s podcast or at Trump’s rallies. It was at the launch pad in Boca Chica, Texas, where Musk’s aerospace company captivated audiences by catching a returning rocket with robotic arms. If the man who accomplished this fervently backs Trump, couldn’t Trump achieve at least some of his promises?

Read more: What Elon Musk Really Believes

Many voters seem to think so, especially the young men Musk targeted for Trump with his boldness. “The biggest factor here is that men need to vote,” Musk told Rogan just before the election. The next day, after 60% of white men supported Trump, Musk tweeted: “The cavalry has arrived.” However, his influence extended beyond the male demographic. He also appealed to voters who were put off by Trump’s character but intrigued by his policies. Political commentators noted that these individuals needed a “permission structure”; Musk provided that reassurance to suburban women like Betsy Stecz. As she queued for his October rally in Lancaster, Pa., Stecz expressed a sense of relief: “People are finally feeling like they can hold their heads high and say: I’m not ashamed to vote for Donald Trump.” In her view, Musk was the reason.


Given His Role

In light of his influence in the campaign’s success, Musk likely anticipated some form of reward. However, his presence during Trump’s transition has reportedly made others in their circle uneasy. Throughout November, Musk spent considerable time at Mar-a-Lago, weighing in on Cabinet selections and advising Trump on policy priorities. He joined the President-elect for golf outings, sat alongside him at an Ultimate Fighting Championship event, and even took photos with the Trump family, with one grandchild gushing online about Musk achieving “uncle status.” Musk humorously referred to his role as “First Buddy.”

Trump, Musk, and Trump Jr. at UFC 309
U.S. President-elect Donald Trump, Tesla and SpaceX CEO Elon Musk, and Donald Trump Jr. (R) watch a fight during UFC 309 at Madison Square Garden in New York, on Nov. 16, 2024.
Kena Betancur—AFP/Getty Images

Even this may be an understatement. Leaders from Turkey and Ukraine have had Musk eavesdropping on their discussions with Trump. An envoy from Iran, accused of plotting against Trump, reportedly met with Musk to discuss de-escalating tensions (though Iran’s Foreign Ministry has denied this meeting). When House Republicans invited Trump to a closed session, Musk accompanied him, riding in a car labeled GUEST 1 in Trump’s motorcade.

Read more: Iran, Trump, and the Third Assassination Plot

At that stage, Trump appointed him to oversee a new initiative called the Department of Government Efficiency. Its acronym, DOGE, playfully references the popular canine-themed cryptocurrency Musk has endorsed. Yet the department’s mission is serious. Trump claimed it would “dismantle” the federal bureaucracy and “restructure” its agencies. “This will send shock waves through the system,” Musk asserted.

This could also afford Musk influence over the various agencies regulating his businesses. Just weeks before the election, the National Highway Traffic Safety Administration announced an investigation into Tesla’s autonomous vehicles after incidents involving crashes. Additionally, California regulators ordered Tesla to rectify ongoing air quality violations at its Fremont facility. Tesla asserts that its vehicles are safe and that its operations meet environmental regulations. SpaceX has also faced challenges with the Federal Aviation Administration, which Musk threatened to sue for perceived overreach in September. A New York Times investigation revealed that his companies are currently involved in at least 20 regulatory disputes and investigations from various government entities. Musk and his representatives have declined to comment or respond to TIME’s inquiries regarding potential conflicts of interest.

He has yet to clarify the principles that would guide his plan to overhaul the bureaucracy. The co-director of DOGE, Vivek Ramaswamy, campaigned on a pro-business, libertarian platform during the last Republican primary. Musk’s political stance, however, is more elusive. This past summer, he described himself as “historically, a moderate Democrat.” He has labeled climate change as the most pressing challenge of our time. When Barack Obama ran for President in 2008, Musk stood in line for six hours just to shake his hand.

His relationship with Trump has often been tumultuous. Their views on tariffs diverge significantly, and Musk resigned from his advisory role in the White House after less than six months in 2017, protesting over Trump’s climate policies. Five years later, Musk suggested it was time for Trump to “sail into the sunset,” provoking a furious reply from Trump: “Elon should focus on extricating himself from the Twitter situation, as he might owe $44 billion for something that’s perhaps worthless.”


Trump’s Observation

Trump had a valid point. Musk’s acquisition of Twitter appeared to lack clear business rationale. He paid at least double the company’s worth in 2022, subsequently undermining its revenue streams and laying off a substantial portion of its workforce. Musk has claimed that the platform’s headcount dropped from 8,000 to around 1,500 under his stewardship. Some of his posts on the platform, now rebranded as X, seemed to contribute to corporate self-damage. One post, referencing an antisemitic theory, was later retracted (he apologized subsequently). Another post propagated a conspiracy theory related to the hammer attack that left House Speaker Nancy Pelosi’s husband hospitalized with a skull fracture. In response, numerous companies, including Microsoft and Coca-Cola, withdrew their advertising from the platform. “Don’t advertise,” he told them from the stage of a conference last fall. “If someone is going to blackmail me with advertising, blackmail me with money, go f-ck yourself. Is that clear?” In October, Fidelity estimated that X had lost nearly 80% of its value over the past two years.

Clockwise from top left: Photograph by Mark Seliger for TIME, Photograph by Mark Mahaney for TIME, Illustration by Nigel Buchanan for TIME, Illustration by Tim O’Brien for TIME

Musk, however, seemed unfazed. Even with a drastically reduced workforce, the platform continued to thrive, frequently topping the list of most-downloaded news apps in the Apple App Store. Major advertisers have since returned. For some analysts, this situation has been seen as evidence of Musk’s adeptness in corporate restructuring. “What Elon accomplished with Twitter was getting inside, cleaning house, and enhancing its functionality,” remarked an associate from Musk’s circle. “The hope is that he can replicate this success within the U.S. government.”

That is indeed a formidable challenge. Even fiscal conservatives have hesitated regarding Musk’s pledge to eliminate $2 trillion in federal spending. Accomplishing this would necessitate severe cuts to Medicare, Social Security, and other critical components of the social safety net. Musk has cautioned the nation to brace for a period of “temporary hardship” as these reductions unfold. Nonetheless, it remains uncertain whether he possesses the authority to enact such changes. DOGE will function outside of government, lacking the power to terminate federal employees. Many financial analysts predict it will follow the path of numerous advisory boards that have tried and failed to persuade politicians to reduce the programs their constituents cherish. The U.S. Congress already has a dedicated oversight body, the Government Accountability Office, tasked with identifying waste, fraud, and inefficiencies.

Many initial supporters of DOGE acknowledge its limitations yet celebrate it nonetheless. “Yes, a Department of Government Efficiency might be an unrealistic dream, akin to Monty Python’s Department of Silly Walks,” noted Wall Street Journal columnist Andy Kessler on November 17. “But even if Mr. Musk’s DOGE merely trims some excesses and saves a few hundred billion, that would be significant.”

Throughout his campaign, Musk emphasized the necessity for the U.S. to operate “honestly” and “within its means.” However, if his social media platform is any indication, his objectives may be driven more by ideology than by efficiency. His rationale for acquiring Twitter aligns with one of his core motivations for supporting Trump: a desire to protect free speech in America. “Freedom of speech is the foundation of democracy,” he told Joe Rogan just before the election. “Once you lose freedom of speech, you lose democracy. Game over. That’s why I bought Twitter.” Numerous reports and studies have suggested that under his leadership, the platform has devolved into a haven for hateful and harmful content, partly due to his decision to dismantle its content moderation team.

Read more:Elon Musk and the Tech Bro Obsession With ‘Free Speech’

When asked about his political shift, Musk frequently references the “woke mind virus,” a term he coined to describe what he perceives as the leftward drift in American society, which he believes has led to identity politics, cancel culture, and pervasive online censorship. His grievances with these phenomena are deeply personal. During the pandemic, one of his children sought gender-affirming medical treatment, and Musk has stated he felt misled into consenting to it. His transgender daughter, now 20 and estranged from him, legally changed her name in 2022 to Vivian Jenna Wilson. In a podcast this past July, Musk declared that his child “is dead, killed by the woke mind virus. I vowed to eradicate the woke mind virus after that.”

Wilson responded the following day: “I look pretty good for a dead bitch.” On November 5, as the election results became evident, Wilson published another message: “Blame the f-cking politicians and oligarchs who caused this to happen,” she wrote. “Direct your anger towards them.”


Understanding Oligarchy

In ancient Greek, the term oligarkhia translates to “rule by the few.” Aristotle was its earliest critic; in the 4th century BCE, he articulated a scenario where “men of property have the government in their hands.” In medieval Venice, the leader of the ruling oligarchy served for life and held the same title that Musk has assigned to his new department: the Doge.

Elon Musk speaks at Trump rally
Elon Musk speaks at a rally for former US President and presidential candidate Donald Trump Oct. 27, 2024 at Madison Square Garden in New York.
Sacha Lecca—Rolling Stone/Getty Images

The most vivid example of this system in recent history emerged in Russia during the 1990s, when a handful of businessmen gained control over the national economy during its tumultuous transition to capitalism. This oligarchy is referred to as semibankirshchina—the reign of the seven bankers.

The most influential among them, Boris Berezovsky, leveraged his media outlets to assist Putin in securing his first election in 2000, expecting to share in the spoils of power. Instead, their relationship soured, leading to Berezovsky’s exile and the eventual confiscation of his television network by the Russian state. Broke and isolated, he died in 2013 at his mansion in the English countryside, with authorities ruling it a suicide. To this day, his former media channel disseminates the Kremlin’s narrative.

One of Berezovsky’s close associates, Alex Goldfarb, now residing in New Jersey, observes the partnership between Musk and Trump with a mix of familiarity and trepidation. “It appears an oligarchy is taking shape here as well,” he states. “During Putin’s early years, oligarchs fought the state tooth and nail. Here, it seems we have two oligarchs, Musk and Trump, collaborating to seize control of the state.”

The outcome may hinge on how this new duo approaches the institutions they will soon govern. If their goal is to refine these mechanisms into more efficient and effective tools of governance, the public could benefit from a system that has long been encumbered by bureaucratic inefficiency. However, Trump has also wielded these instruments as Putin has done in Russia—favoring his allies and sidelining his adversaries.

Musk stands to gain significantly from this arrangement. If he remains in the role of First Buddy, he can anticipate a smoother experience with the regulators Trump appoints throughout the government. His most direct route to Mars could therefore run straight through the Oval Office. Yet, aside from witnessing the spectacle of his own success, what tangible benefits will trickle down to ordinary Americans?

The institutions responsible for providing healthcare, ensuring clean water, and educating the next generation were never designed to operate as profit-driven enterprises. Their value is immense, especially for those who can least afford to pay. If Musk’s push for efficiency leads to significant cuts in these vital services, the consequences will not be temporary for those reliant on government assistance. For them, the repercussions could be dire, and none of Musk’s promises of a future on Mars will alleviate their present struggles.

—With reporting by Eric Cortellessa/Lancaster and Leslie Dickstein/New York