In this piece, we explore the dynamics between Elon Musk, CEO of Tesla and SpaceX, and former President Donald Trump, particularly in the context of a major Bitcoin conference in Nashville. On July 27, Trump was set to deliver a keynote speech at the event, but it started over an hour late. Meanwhile, Musk’s private jet landed in Memphis, Tennessee, about 200 miles away. This occurred just two weeks after Trump survived an assassination attempt in Pennsylvania and received Musk’s endorsement for a second term.
Inside the Music City Center in Nashville, there were rumors that Musk might make a surprise appearance and possibly even moderate a discussion with Trump. Although Musk did not attend, Trump acknowledged him during his speech, expressing admiration but also noting that not everyone needs an electric car. This was a more subdued tone compared to Trump’s earlier praise in Michigan, where he exaggerated Musk’s financial support.
The shift in Trump’s tone seemed to stem from Musk’s denial of the reported $45 million monthly donation to Trump. Musk clarified in an interview with Jordan Peterson and on social media that his contributions were much smaller and directed to a political action committee supporting Trump.
The relationship between Musk and Trump has been complex, marked by public feuds and differing views on various issues. However, they have recently found common ground, particularly in their opposition to Democrats and shared appeal to the far-right, including crypto enthusiasts.
Musk’s financial support for Trump remains somewhat opaque. He established a super PAC called America PAC after endorsing Trump, but the extent of his contributions is unclear. The Federal Election Commission records show limited financial activity from the PAC, with significant disbursements aimed at supporting Trump and opposing President Joe Biden.
Trump hinted at more developments in their relationship, announcing an upcoming public conversation with Musk. Despite their past conflicts, both figures have aligned politically, especially in their criticism of Vice President Kamala Harris and their stance on issues like diversity, equity, and inclusion.
Musk’s political shift has been evident not just in the U.S. but globally, as he has formed relationships with various right-leaning leaders. Despite his vocal support for Trump, Musk has adhered to his pledge not to donate directly to candidates, opting to use his social media platform to promote his preferred candidate.
As Trump continues to garner support in the tech industry, many venture capitalists are rallying behind Harris. An op-ed by venture capitalist Mike Moritz criticized Trump’s supporters in Silicon Valley, suggesting they are making a mistake by believing they can control Trump.
In summary, the evolving relationship between Musk and Trump highlights the intersection of politics, technology, and personal dynamics, with significant implications for the upcoming election.