US President Election 2024: Musk spent money like water in support of Trump, has donated 120 million dollars so far, know why X’s boss took such a big risk
US President Election 2024: Voting for the presidential election is going to take place in America on November 5, in which there will be a competition between Donald Trump and Kamala Harris. Meanwhile, Elon Musk, the owner of social media platform ‘X’ and the world’s richest man, has openly supported Trump. Musk has made several posts on social media in support of Trump and has also donated funds worth about $120 million i.e. Rs 10,08,82,38,456 between July and September. Actually, Musk’s companies SpaceX and Tesla get big contracts and subsidies from the US government, which may depend on the election results. In such a situation, let us know how this election can affect the future of Musk’s companies.
Big stake in government contracts
Let us tell you that SpaceX has received contracts worth $843 million from NASA and $700 million from the US Space Force. If Trump wins, it could give Musk priority in government projects.
benefit of subsidy
Tesla has received billions of dollars in government subsidies aimed at controlling carbon emissions. Musk can hope that this subsidy will remain intact under Trump.
Changes in the regulatory environment
Musk’s companies are in disputes with several government agencies. Tesla’s self-driving technology continues to be investigated by NHTSA. With Trump coming to power, Musk may get relief from these investigations, as well as regulatory pressure may also reduce.
tax exemption opportunity
If Musk plays a major role in the government, he is likely to get tax breaks, which could lead to billions of dollars in savings. Trump’s support could strengthen Musk’s relationship with the US government, which could be beneficial for his business.
personal support
Musk and Trump’s views match on issues like deregulation and immigration. Musk’s companies are closely tied to the US government, so a Trump victory could protect his business interests.
One Million Dollar Giveaway Daily
Musk has announced to give one million dollars a day to voters of important states, which can encourage them to vote in favor of Trump. However, legal disputes have also arisen over this scheme and a legal investigation has been initiated against them. According to American experts, Musk’s announcement is a violation of the law. According to US law, no one can be induced to give a gift or money in exchange for voting or registering. If found guilty, Musk could face a fine of up to $10,000 or a prison sentence of up to five years.
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