The future of Elon Musk‘s business endeavors, including Tesla Inc. TSLA, SpaceX, and X (formerly Twitter), could rest on the outcome of the 2024 presidential election.
What Happened: A Business Insider report suggests that a potential Donald Trump presidency could bring regulatory changes that would benefit Musk’s companies.
Musk has shown support for the former president’s 2024 campaign, adding recently that he established a political action committee endorsing “a meritocracy & individual freedom,” values he now associates with the Republican party, reports the outlet.
“You can think of Musk’s contribution as an investment to eliminate any governmental interference with his businesses,” Michael Gerhardt, an administrative law expert at the University of North Carolina, told Business Insider.
Trump’s proposed plans to lower corporate and personal taxes, along with his control over federal regulations,…
