Elon Musk made a big bet on Donald Trump this year. He vocally supported him on his platform X (formerly Twitter), donated $119 million through a political action committee supporting Trump, and spoke at his rallies.

Musk has emerged as a prominent member of Trump's inner circle. Tesla has lobbied for electric vehicle subsidies and other benefits over the years.

Elon Musk officially endorsed Donald Trump for president on 13 July 2024, shortly after the president-elect survived an assassination attempt in Butler, Pennsylvania. Since then, Musk has become Trump's most visible backer, and one of his largest donors.