NASHVILLE, Tenn. — Former President Donald Trump’s extremely anticipated keynote tackle on the greatest bitcoin gathering of the yr late final month began over an hour late.
As the gang of traders, fanatics and the crypto-curious grew more and more antsy in Nashville, Elon Musk’s non-public jet was touching down 200 miles away in Memphis, Tennessee.
It was July 27, simply two weeks after Trump had survived an assassination try in Pennsylvania. Hours later, he’d been publicly endorsed by the Tesla CEO for a second time period.
Inside Nashville’s Music Metropolis Middle, rumors had been swirling all week that Musk would make a shock look on the convention, and perhaps even reasonable a fireplace chat with Trump
Musk did not present, however he was very a lot current.
“I like Elon. He is nice,” Trump informed the gang. “He endorsed me and nice endorsement and every thing else, however not all people has to have an electrical automotive.”
But Trump’s feedback in Nashville had been notably toned down from what he’d stated about Musk only a week earlier at a rally in Michigan.
“I like Elon Musk … we now have to make life good for us sensible individuals. And he is as sensible as you get,” Trump stated on the time. “He offers me $45 million a month! C’mon. Not $45 million. He offers me $45 million a month.”
He continued, “I imply different guys, they provide you $2 and you bought to take them to lunch, you bought to wine ’em and dine ’em.”
So what occurred between July 20 in Michigan and July 27 in Nashville to tamp down Trump’s gushing reward? The reply seems easy: On July 22, Musk denied the extent of the pledge.
“What’s been reported within the media is just not true,” Musk informed the podcaster Jordan Peterson. “I am not donating $45 million a month to Trump.” In a submit on X on July 25, Musk stated he was making donations to a political motion committee supporting Trump “however at a a lot decrease degree.”
The connection between Musk, the world’s wealthiest individual, and Trump, the Republican nominee for president, is as unstable because the characters themselves. Through the years, they’ve made enjoyable of one another, talked down to at least one one other and brought reverse sides on key points. However of late, they’ve emerged as parallel heroes to the far proper, a bunch that features a wholesome dose of crypto fanatics, and are united in a single quest: defeating Democrats in 2024.
How far Musk is keen to go to financially help Trump in his marketing campaign, now towards Vice President Kamala Harris, is one other matter. Musk arrange an excellent PAC referred to as America PAC days after endorsing Trump, but it surely’s not clear how a lot cash he is contributed, and the North Carolina Legal professional Normal’s Workplace stated Monday that it is eyeing the group following a grievance about the way it’s accumulating private knowledge whereas failing in its promise to assist customers register to vote.
The Federal Election Fee web site exhibits restricted monetary contributions from America PAC. Federal filings checklist complete disbursements of $7.78 million, principally for 2 transactions: $3.87 million to “help” Trump and the identical quantity to “oppose” President Biden.
Based mostly on Trump’s social media commentary, extra about their relationship could also be coming quickly. Trump wrote in a submit on Fact Social on Tuesday that the 2 will probably be talking collectively publicly subsequent week.
“ON MONDAY NIGHT I’LL BE DOING A MAJOR INTERVIEW WITH ELON MUSK — Particulars to observe!” Trump wrote.
Musk did not reply to a request for remark for this story. Steven Cheung, communications director for the Trump presidential marketing campaign, stated in e mail, “Keep tuned! Very thrilling stuff!”
‘I do not hate the person’
As lately as 2022, Musk and Trump had been locked in an open feud, publicly slinging insults at each other on social media, at political rallies and elsewhere.
“I don’t hate the man, but it’s time for Trump to hang up his hat & sail into the sunset,” Musk wrote in a 2022 social media post.
That same year, Trump called Musk a “bull—- artist,” claiming the tech exec told him privately that he’d voted for him.
What had become clear was that Musk wasn’t going to support a Biden reelection.
Musk said he’d voted for Biden in 2020, but the following year the president left Musk out of an EV summit at the White House, where he met with top executives from General Motors, Ford and Stellantis. Musk wrote in a tweet, “Yeah, appears odd that Tesla wasn’t invited.”
Biden is a pro-labor president, whereas Tesla is non-union and has run afoul of federal labor legal guidelines.
By 2022, Musk indicated he was leaning towards Ron DeSantis, Republican governor of Florida, as chatter concerning the 2024 election ramped up. DeSantis ended up launching his presidential marketing campaign in a Might 2023 livestream on X, which Musk owns. The stream with Musk and longtime buddy David Sacks was a technical catastrophe, affected by glitches. DeSantis’ marketing campaign fizzled and formally got here to an finish in January.
Two months later, Musk reportedly headed right down to the Mar-a-Lago resort in Florida, as Trump was attempting to rally donor help. In an interview on CNBC’s “Squawk Field” on Mar. 11, Trump spoke positively of Musk, saying he is been “pleasant with him over time,” had “helped him” when he was president, and that he “preferred him.”
“We clearly have opposing views on a minor topic referred to as electrical vehicles,” Trump informed CNBC’s Joe Kernen. “I am all for electrical vehicles, however it’s a must to have the entire alternate options,” he stated, including that EVs “price an excessive amount of and so they’re all going to be made in China.”
No matter variations the 2 could have on EVs, they’re more and more aligned politically. Each have described Vice President Harris as a communist and are liable to lashing out at something involving DEI (variety, fairness and inclusion). They’re vocal in opposing transgender rights and in spreading false reviews about non-citizens voting in U.S. elections.
Former Ford CEO Mark Fields says it isn’t nearly politics for Musk. Between his numerous firms —Tesla, aerospace and protection contractor SpaceX, social media firm X and AI startup xAI — Musk has a whole lot of tasks that might use the help from the White Home.
“The underside line, a optimistic relationship with the president has a whole lot of advantages, not solely doubtlessly for Tesla, for issues like autonomy or AI or robotics, however his different companies like SpaceX,” stated Fields, in an interview final month with CNBC’s Brian Sullivan. “You possibly can say to the president, ‘Hey, you realize Boeing are convicted felons, so give me a majority of what you are promoting.'”
Trump has additionally stated he would place steep tariffs on items from China, a market the place Tesla faces rising competitors.
Musk “is aware of that he could take a more durable stance towards China, and that will assist them within the U.S., as a result of that is one in every of their greatest and most worthwhile markets,” Fields stated.
‘I’ve no selection’
Since gaining Musk’s help, Trump has returned the reward.
“I believe what he is performed is nice,” Trump stated on the Bitcoin Convention.
On Saturday in Atlanta, Trump continued with that theme, telling the viewers that he was “for electrical vehicles.” He added, “I’ve to be, you realize, as a result of Elon endorsed me very strongly. So, I’ve no selection.”
Musk, in the meantime, has been transferring rightward politically for years, and never simply within the U.S. He is developed relationships with Italy’s Prime Minister Giorgia Meloni, Argentinian President Javier Milei, former Brazilian President Jair Bolsonaro, India’s Prime Minister Narendra Modi, and final month visited Capitol Hill because the visitor of Israeli Prime Minister Benjamin Netanyahu, who delivered a speech to Congress concerning the warfare in Gaza.
Regardless of his vocal help of Trump, Musk seems to have caught by his pledge to not donate on to candidates this election cycle, going the PAC route as a substitute.
U.S. Vice President Kamala Harris disembarks Air Power Two following a marketing campaign journey to Wisconsin, at Joint Base Andrews, Maryland, U.S., July 23, 2024.
Kevin Mohatt | Reuters
As a substitute, Musk is utilizing X to tout his most well-liked candidate to his 193 million followers.
On the day of Trump’s speech in Nashville, Musk wrote “Save our children!” together with a video of Trump in West Palm Seaside, Florida, the place he stated he would signal an govt order to chop federal funding to varsities “pushing important race concept” and “transgender madness.”
After which there was Musk’s retweet of a parody Kamala Harris marketing campaign advert. The video contains a voice that seems like Harris saying she was picked as a result of she is “the last word variety rent.” The video wasn’t labeled as deceptive, in what seems to be a violation of the platform’s guidelines.
Whereas Trump has his fair proportion of help in tech, going effectively past Musk, many within the trade are rapidly rallying round Harris. As of this week, greater than 750 individuals in and round enterprise capital signed the “VCs for Kamala” pledge, which was first introduced on July 31.
In an op-ed within the Monetary Instances on Monday, legendary enterprise capitalist Mike Moritz took goal at Trump’s supporters in Silicon Valley and stated they’re “making an enormous mistake.”
“They’re, I believe, seduced by the notion that due to their means, they’ll be capable of management Trump,” Moritz wrote. “And, I think about they’re additionally committing one other cardinal error: deluding themselves that he won’t do what he says or guarantees.”
— CNBC’s Brian Schwartz and Christina Wilkie contributed to this report.
