US Polls: $119M Donation, Public Endorsement Signal Musk's Ambitions For Favourable Policies Under Trump Administration

(MENAFN- Live Mint) Elon Musk's endorsement of Donald Trump's bid for a second presidential term has deepened ties between the billionaire entrepreneur and the former president, potentially amplifying Musk's influence over U.S. policy decisions that impact his businesses, Reuters reported.

Musk donated at least $119 million to a pro-Trump Political action committee and vocally supported the former US president during the campaign's final stretch, federal records revealed. Analysts see Musk's support as part of a larger strategy to shield his companies from regulatory burdens and secure beneficial government policies, Reuters reported, based on interviews with Musk-company insiders and officials familiar with his government dealings.

“Elon Musk sees all regulations as getting in the way of his businesses and innovation,” said a former high-ranking SpaceX executive, who requested anonymity.“He sees the Trump administration as the vehicle for getting rid of as many regulations as he can, so he can do whatever he wants, as fast as he wants," as quoted by Reuters.

Musk's extensive business interests-from Tesla 's electric vehicles to SpaceX rockets and Neuralink brain implants-are all subject to significant government oversight. Musk's endorsement of Trump came in July, coinciding with an attempted assassination of the candidate in Pennsylvania. Musk spent election night with Trump at Mar-a-Lago, where Trump hinted at appointing Musk as an“efficiency czar” in his new administration.

Tesla and SpaceX , Musk's flagship companies, rely heavily on government subsidies, grants, and favourable policies. Some sources indicate Musk aims to reduce federal oversight on Tesla's autonomous-driving technology, which is under review by the U.S. National Highway Traffic Safety Administration (NHTSA). The NHTSA, Tesla's primary regulator, has scrutinized Tesla's“Autopilot” and“Full Self-Driving” systems over safety concerns, according to the report.

A person close to Musk said his“primary focus over the next four years” would be pushing for "de-enforcement" of regulations affecting Tesla and SpaceX. Musk is reportedly advocating for a unified federal approach to autonomous-driving laws to replace the current state-by-state patchwork that Tesla must navigate.

Musk's rising political influence has emboldened supporters who view government oversight as a hindrance to technological advancement. Venture capitalist Shervin Pishevar, a SpaceX investor, said,“He's going to make America function like a startup.”

However, Musk's position has raised concerns among employees and regulatory experts. SpaceX is already the world leader in government-funded rocket launches, and Tesla sells nearly two million heavily subsidized electric vehicles each year. Despite his complaints about government interference, Musk's companies continue to benefit significantly from federal support.

Musk's brain-implant firm, Neuralink, has also faced delays in gaining U.S. Food and Drug Administration (FDA) approval for human trials. Insiders suggest Musk may use his relationship with Trump to expedite this approval process. Some Neuralink employees believe Musk, as an“efficiency czar,” would push to streamline the FDA's procedures and remove officials he views as obstacles.

SpaceX 's government partnerships, including collaborations with NASA and U.S. intelligence agencies, highlight Musk's dual role as a private innovator and public contractor.“NASA needs SpaceX more than SpaceX needs NASA,” noted a federal official familiar with SpaceX's work, the report added.

While Musk's influence grows, critics worry about the implications of weakening regulations in high-risk sectors like space exploration. A former SpaceX executive warned that loosening safety oversight could lead to significant setbacks, potentially putting the entire industry at risk, Reuters reported.

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