Elon Musk's political gambit: Will he endorse Trump or stick with Biden?

Musk's businesses and influence hang in the balance as the presidential race heats up.

Elon Musk, the tech mogul known for his ambitious ventures, is now a major political player. With the presidential election approaching, Musk's potential endorsement of Donald Trump or continued support for Joe Biden is causing a stir.

Recently, Musk has transitioned from a casual political observer to a formidable influencer in Washington. 

Business Insider reports that Musk has bonded with fellow billionaires over a shared distrust of Democrats and has privately strategized on defeating them in the upcoming election. 

According to The Wall Street Journal, Musk has even discussed taking on an advisory role in a potential Trump administration.

While Musk hasn't publicly endorsed any candidate, his conversations with the Trump campaign hint at his growing political involvement. 

A Trump campaign representative highlighted support from Silicon Valley elites like Musk, citing concerns over Biden's policies on the tech industry.

Musk's businesses, including Tesla, SpaceX, and X, stand to gain or lose significantly depending on the election's outcome. 

Under Trump, tax cuts and deregulation could benefit Musk's companies, especially given Trump's previous push for a Space Force. 

However, political strategist Bradley Tusk warns that aligning too closely with Trump could lead to market instability, which Musk relies on to maintain his wealth and power.

Stacey Lee, a law and ethics professor at Johns Hopkins Carey Business School, noted the similarities between Musk and Trump, suggesting they could be "kindred spirits." 

On the other hand, a second Biden term might offer the stability Musk needs for his businesses, even if it means less political influence.

Tusk explained, "Musk just got a $55 billion pay package approved under Joe Biden as President — right now, his life's pretty good. And now we have the choice of a president who genuinely believes in clean energy and someone who actively despises it."

However, more regulation and pro-union policies under Biden could be less attractive to Musk. Lee added, "Biden is very traditional in terms of his policies. He is committed to raising corporate taxes."

Tusk cautioned that a second Trump term could ultimately backfire for Musk. "Musk needs to be careful and not go headlong into this. As seductive as it might seem, it really ends badly for basically everybody," Tusk said.

Representatives for Musk and the Biden campaign did not respond to requests for comment. 

As the election draws closer, all eyes are on Musk to see which direction he will choose and how it will affect his empire.