Donald Trump Turned the Tables on Elon Musk, Exposed His Real Flaws - Business Insider
October 30, 2024 – As the U.S. presidential election approaches, speculation is mounting about the potential benefits Elon Musk could reap if Donald Trump secures a second term in office. Musk, the CEO of SpaceX and Tesla, has been a vocal supporter of Trump’s campaign, and his backing could yield significant rewards.
One of the most notable benefits Musk stands to gain is a substantial tax break. Thanks to a provision in the tax code, Musk could receive one of the largest personalized tax breaks in American history if Trump appoints him to a top government post. This special tax benefit, available only to federal officials, would allow Musk to indefinitely defer all capital gains taxes on divestments required to avoid conflicts of interest.
Additionally, Musk’s companies, Tesla and SpaceX, could see increased government support and expanded contracts under a Trump administration. Trump has promised to appoint Musk as the head of a “government efficiency commission,” which would oversee agencies that regulate Musk’s companies. This position could provide Musk with significant influence over policies affecting his business ventures.
Musk’s financial contributions to Trump’s campaign and his active participation in rallies underscore his commitment to seeing Trump re-elected. The potential benefits for Musk and his companies highlight the high stakes of the upcoming election and the intricate interplay between politics and business.
As the election draws nearer, the world watches closely to see how these developments will unfold and what impact they will have on the future of U.S. governance and industry.
