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Reading: Musk’s $130M Trump Bet Pays Off: Major Business Wins Ahead
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StartupsVC

Musk’s $130M Trump Bet Pays Off: Major Business Wins Ahead

Rary Maharani
Last updated: November 12, 2024 1:28 am
Rary Maharani
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  • Musk’s $130M campaign investment translates to immediate Tesla stock surge
  • Proposed government efficiency role could grant Musk significant regulatory influence
  • Trump presidency promises regulatory relief despite some potential IRA funding risks

Contents
Strategic Investment Yields ReturnsGovernment Role BeckonsRegulatory Relief Coming

Strategic Investment Yields Returns

Elon Musk’s massive $130 million investment in Trump’s campaign looks poised to deliver substantial returns. Tesla stock surged 15% to $288.68 post-election, marking its highest point this year. Wedbush analysts labeled Trump’s victory “a home run” for Tesla, highlighting Musk’s strengthened position in the business community.

Government Role Beckons

Trump endorsed Musk’s proposal to lead a new “Department of Government Efficiency,” potentially giving the tech mogul significant influence over federal agencies.

The role could reshape regulatory landscape affecting Tesla, SpaceX, and other Musk ventures, particularly in autonomous vehicle approval processes and defense contracts.

Regulatory Relief Coming

The anticipated lighter regulatory environment under Trump promises benefits across Musk’s business empire.

However, potential drawbacks loom – including possible withdrawal of Inflation Reduction Act funds that currently benefit Tesla through EV tax credits and solar installation incentives.

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