Musk Put $277 Million Into the Election -- Now He's $200 Billion Richer

Monday, December 16, 2024

The tech mogul made a big bet on Donald Trump. By one measure, it has paid off handsomely.

Posted by retort at 10:45 PM | 24 COMMENTS | permalink

When there were reports that Musk would spend $45 million each month for the last three months of the election Musk claimed it was fake news and he would actually be spending a much smaller amount

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-- Judd Legum (@juddlegum.bsky.social) December 15, 2024 at 8:55 AM

Comments

When is enough, enough?
I have heard it said that if Tesla didn't force through 100% tariffs on Chinese electric cars, it would be close to being out of business. So of course, Musk is a big fan of tariffs. Global Warming is too.

#1 | Posted by Hughmass at 2024-12-17 07:03 AM

Biden's WH: The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024.

It would destroy all of the subsidies we just poured into every American automotive manufacturer. None of them can compete with a $10k BYD car.

#2 | Posted by sitzkrieg at 2024-12-17 08:13 AM

Tip of the iceberg. This administration is going to see the largest transfer of wealth ever imagined (all flowing up).

#3 | Posted by Sezu at 2024-12-17 11:27 AM

Tip of the iceberg. This administration is going to see the largest transfer of wealth ever imagined (all flowing up).

#3 | Posted by Sezu at 2024-12-17 11:27 AM | Reply | Flag:
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Actually flowing from the Federal government to the people.

#4 | Posted by fishpaw at 2024-12-17 11:46 AM

#1 | Posted by Hughmass at 2024-12-17 07:03 AM | Reply | Flag:
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Musk is responsible for curbing climate change than anyone in the world. Tesla is a far superior EV than any other EV on the planet. NASA contracted with his Space X program (under Biden) because his satellite and rocket technology were far more efficient and less costly than what NASA could produce. But according to the left because he couldn't support Biden/Harris he is a bum.

#5 | Posted by fishpaw at 2024-12-17 11:52 AM

FTA: "The Trump transition has said it will ensure those involved with the DOGE group Musk was picked to co-chair are compliant with legal guidelines on conflicts of interest."

;) ;)

#6 | Posted by GalaxiePete at 2024-12-17 12:08 PM

#1 | Posted by Hughmass

That may be true, but consider like many other things the CCCP is behind them. The EU and others are doing similar things with EVs.

US Solar panel companies were not forced out of business by Chinese competition. They were forced out because the government of China was funding them enabling them to dump their panels here and elsewhere for losses. This drove competitors out of business and lead to Chinese companies dominating the industry. Another example I remember was Tires. The Chinese were dumping them here in an effort not only to get a foothold but drive competitors out of business and this led to large tariffs. The problem they had there was we had LARGE tire companies who jumped on it.

Even if it protects Tesla, I am glad our government is doing the right thing and fighting China's product dumping.

#7 | Posted by GalaxiePete at 2024-12-17 12:15 PM

Actually flowing from the Federal government to the people.

#4 | Posted by fishpaw

The select few Oligarchs in particular.

#8 | Posted by GalaxiePete at 2024-12-17 12:16 PM

Pretty sweet, getting a return of more than $700 per every dollar invested. Too bad such investments aren't available for the average American.

#9 | Posted by Whatsleft at 2024-12-17 12:27 PM

Does anyone else get a severe migraine headache from reading right wingers spew their rhetoric?? They can't all be this dumb can they????

#10 | Posted by LauraMohr at 2024-12-17 12:33 PM

They can't all be this dumb can they?

They prove everyday, right here on the DR, that they are!

#11 | Posted by ClownShack at 2024-12-17 12:42 PM

Compare that to the ROI of Democrat donors, one and a half billion dollars flushed away and the party is in shambles. The current Democrat party leadership are grifters and thieves.

#12 | Posted by visitor_ at 2024-12-17 12:45 PM

"Actually flowing from the Federal government to the people."

Tell us you don't understand the equation, without using those specific words.

First time around, 83% went to the top 1%, with 60% going to the top .1%.

FFS, Foreign investors got more than American workers. And you're celebrating?!?

#13 | Posted by Danforth at 2024-12-17 01:09 PM

Actually flowing from the Federal government to the people.

#4 | Posted by fishpaw

The body of a fat geriatric with the brain of a three year old.

How did you survive so long being so gullible and stupid?

#14 | Posted by jpw at 2024-12-17 01:17 PM

#5 | Posted by fishpaw

My God. That is the most pathetic display of sycophancy I've ever seen on this site.

#15 | Posted by jpw at 2024-12-17 01:18 PM

They can't all be this dumb can they????

#10 | Posted by LauraMohr

They most certainly are.

#16 | Posted by jpw at 2024-12-17 01:20 PM

Pretty sweet, getting a return of more than $700 per every dollar invested. Too bad such investments aren't available for the average American.

#9 | Posted by Whatsleft at 2024-12-17 12:27 PM | Reply | Flag:
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Go out and invent something that everyone can use instead of complaining about those who do. Musk was not from a wealthy family, he worked his way through school and came up with different products, his first big payoff being PayPal. Sold it for tons of money and started SpaceX and Tesla, then those companies made him tons of money. Nancy Pelosi is loaded, tell me what she invented to come up with that kind of $, what risks did she take?

#17 | Posted by fishpaw at 2024-12-17 02:43 PM

Musk was not from a wealthy family

Yeah, he was.

#18 | Posted by REDIAL at 2024-12-17 02:47 PM

#5 | Posted by fishpaw

My God. That is the most pathetic display of sycophancy I've ever seen on this site.

#15 | Posted by jpw at 2024-12-17 01:18 PM | Reply | Flag:
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Ok then, dispute what I said. What EV is the highest selling EV in the world? Why is NASA contracting with SpaceX? Without Tesla how many gas guzzlers would be out there adding to global warming.
Your childlike posts are just boring. You either have zero debating skills or are a simply uninformed person.

#19 | Posted by fishpaw at 2024-12-17 02:50 PM

Musk was not from a wealthy family

Yeah, he was.

#18 | Posted by REDIAL at 2024-12-17 02:47 PM | Reply | Flag:

Not from the type of wealth that gave him the money necessary to start his companies.

#20 | Posted by fishpaw at 2024-12-17 02:53 PM

Not from the type of wealth that gave him the money necessary to start his companies.

His lucrative engineering business which took on "large projects such as office buildings, retail complexes, residential subdivisions, and an air force base." He also owned an auto parts store, as well as "one of the biggest houses in Pretoria". In 1979, Musk and wife Maye divorced. Maye's book recalls that at the time of the divorce, he owned two homes, a yacht, a plane, five luxury cars, and a truck.

Doesn't sound like they were struggling.

#21 | Posted by REDIAL at 2024-12-17 02:59 PM

Musk will do for 'Murica what he's done for Twitter.

#22 | Posted by Corky at 2024-12-17 03:47 PM

Your childlike posts are just boring. You either have zero debating skills or are a simply uninformed person.

#19 | Posted by fishpaw

Says the idiot c*&^ gobbler who can't get enough of Elon's Musk.

Tesla is a far superior EV than any other EV on the planet.

Far superior? Hardly. They barely beat out others in comparison by outlets like Edmunds and Car and Driver.

They're so good they have to have government intervention to avoid being undercut by imports...

NASA contracted with his Space X program (under Biden) because his satellite and rocket technology were far more efficient and less costly than what NASA could produce.

No, they operated at a loss and received government subsidies. They've only recently become profitable due to StarLink.

Now go wipe your chin, sport.

#23 | Posted by jpw at 2024-12-17 04:54 PM

Nah, he's going bankrupt because he bought Twitter, so sayeth the libs

#24 | Posted by THEBULL at 2024-12-17 09:38 PM

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