Elon Musk, the world’s richest man, reshaped politics by heavily funding Donald J. Trump’s campaign, influencing policy and governance.

The world’s richest man, Elon Musk, has long been synonymous with innovation, ambition, and controversy. From reshaping the auto industry with Tesla to pioneering space exploration through SpaceX, Musk’s influence extends far beyond business. In 2024, Musk added another dimension to his legacy: a dominant force in American politics. His unprecedented $274 million to political groups during the presidential campaign sealed the deal, making him the highest-spending donor of the cycle but surely one that made the difference-maker in the return of Donald J. Trump back to the White House.

The emergence of a political heavyweight is just as calculative as it has taken for Musk. His flagship donation of $238.5 million to America PAC, a super political action committee he founded, signaled his intent to level the financial playing field for Trump. The former president, whose campaign struggled against Vice President Kamala Harris’s fundraising machine, benefited immensely from America PAC’s financial prowess. The $159 million spent on canvassing operations and digital advertising by the group gave Trump an organizational backbone that his campaign sorely lacked and a robust ground game in battleground states.

However, the contributions of Musk came with controversy. The voter engagement strategies by America PAC, innovative though legal, such as daily $1 million giveaways to voters in battleground states who signed petitions advocating for free speech and gun rights, were scrutinized under the law. Allegations of running an “unlawful lottery” and a possible violation of federal voting laws followed. Still, those legal challenges did not manage to stop the initiative; in fact, it demonstrated that controversy alone cannot stop Musk.

The political foray of the world’s richest man is changing how billionaires shape democracy. Musk went beyond mere support for America PAC; his $20.5 million donation to RBG PAC revealed a factoring of political optics. When linking Trump to a legacy of reproductive rights, RBG PAC endeavored to nullify a major liability to Trump’s campaign. This strategic rebranding is a perfect example of Musk’s ability to use unconventional narratives to get effective results, whether in business or politics.

Thus, having close connections with Donald J. Trump has far more implications for both his businesses and the overall political landscape. With the president-elect ready to come into his second term, Musk finds himself in the inner circle of the president-elect already. His appointment as coleader of the Department of Government Efficiency together with entrepreneur Vivek Ramaswamy indicates a future of aggressive deregulation and cost-cutting in government operations. For the enterprises of Musk, this alignment might become very lucrative for SpaceX and Tesla, especially.

The space agency has long been SpaceX’s closest partner, and Jared Isaacman, an ally of Musk and Trump’s choice for administrator, promises to expand this relationship. And as Tesla works toward regulatory approval of its autonomous vehicles, this should align well with the Transportation Department’s expected priorities under the new administration.

Elon Musk’s transformation from a modest political donor to America’s biggest political benefactor in 2024 underscores his unparalleled ability to influence multiple domains. As the world’s richest man, his actions exemplify the growing power of wealth in shaping democratic processes. Musk’s involvement in Donald J. Trump’s presidency not only highlights his political savvy but also sets a precedent for how billionaires may redefine their roles in governance and policy in the 21st century.