Why has Elon Musk, whose Twitter/X is reportedly leaking ad revenue, joined in supporting Donald Trump disinformation? Why are you dancing around the stages wearing multiple shades of MAGA hat? Why test the election law now, so close to November 5th, with a dubious $1 million lottery for registered voters in swing states who signed Musk’s equally dubious petition?
Those questions are being raised on the campaign trail, after vice presidential candidate Tim Walz joked in a speech Tuesday that Musk was effectively Trump’s vice presidential pick. In a meme-worthy moment, Walz wondered why Musk had started “dancing like a dipshit” at the former president’s rallies.
The answer may not be that Musk has just become a red-pill rabid true believer. The owner’s X feed has long been full of far-right threads that aren’t getting Community Notes, and yet, even now he seems unwilling to go down the deeper MAGA rabbit holes – for example, refusing to took a conspiracy theory book on the 2020 Election to his first solo event in Pennsylvania this week.
This has nothing to do with Musk’s tax bill either. You might think that would be the main reason for the world’s richest man to put forward a candidate like Trump, who promises to lower his effective tax rate, to head the federal government. But based on ProPublica’s IRS investigations, Musk likely pays little or no federal income tax. Trump will try to lower the tax rate on stock sales, something Musk does a lot — but it’s Congress that ultimately decides whether to cut taxes, not the president.
No, it increasingly appears that Musk’s main concern is avoiding repercussions from the feds, according to an exhaustive report. New York Times report.
Four of Musk’s companies face a total of “at least 20” federal investigations. The Department of Justice, Labor and Transportation is investigating legal violations and discrimination lawsuits at Tesla, SpaceX and Neuralink. And X? The SEC and FTC are all over the alleged wrongdoing surrounding Musk’s $44 billion purchase. Just this month, Musk failed to appear for a court-ordered SEC interview.
Mashable’s Speed of Light
Musk has a history of dragging the SEC and other regulators through lengthy court battles, then paying fines that pale in comparison to his wealth. But now, with so many fronts to fight, 2025 could be the year the billionaire’s disdain finally catches up with him given the volume of detailed investigations into New York Times report.
On top of his federal battles, Musk is facing a dozen private lawsuits from the families of Tesla owners, three of which are scheduled to go to trial in 2025. The lawsuits allege that Musk made Tesla’s capabilities for Self -Full wheel drive (FSD) to appear more advanced than they were, resulting in numerous deaths and injuries. The National Highway Traffic Safety Administration and DOJ are looking into the same.
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At the same time, Musk currently holds tremendous influence WITHIN the federal government – as one of its largest contractors. of Times scooped up about $16 billion in contracts for his companies over the past decade, the vast majority with the Pentagon and NASA. And Musk’s reliance on government money is growing: Last year alone, his companies earned $3 billion from a total of 17 federal agencies.
That’s 3 billion reasons every year to thwart any investigation that could bring down Musk’s contract house.
And here’s what Trump has offered Musk: his own “government efficiency commission” that would recommend cuts to federal agencies. More importantly, it would also suggest changes to regulations. Trump and his Project 2025 backers have vowed a sweeping purge of federal government workers. In a second Trump administration, Musk could be one of the most powerful voices at the table deciding the direction of that purge.
Here it is: Not a conspiracy theory, but an open offer to let Musk torture his investigators. Musk may wear it as “DOGE,” referencing one of his favorite memes, but here’s how Times The report says: The department “would essentially give the world’s richest man and a major government contractor the power to regulate regulators who have influence over his companies, resulting in a potentially huge conflict of interest.”
Given the staggering amount of money involved, “potentially huge conflict of interest” may be an understatement. In any case, growing Musk’s $3 billion-a-year government business — and protecting his businesses from investigations that could hurt stocks — is worth hopping around swinging states waving giant checks at any number of hats. MAGA.
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Elon Musk’s politics