How Musk used X, the campaign fund to help Trump win in US polls

Elon Musk at a rally for former President Donald Trump at Madison Square Garden in New York. (Hiroko Masuike/The New York Times)

Tesla CEO Elon Musk’s vocal support for Donald Trump during the 2024 presidential campaign marked a major turning point in the billionaire’s political trajectory, which appears to have played a crucial role in Trump’s eventual election success. Once seen as more liberal, Musk’s shift toward Trump’s “Make America Great Again” (MAGA) agenda has leveraged both financial muscle and the power of his social media platform, X (formerly Twitter), to amplify Trump’s campaign messages.
Musk’s financial contribution and strategic influence
Musk’s financial backing of Trump during the 2024 campaign was unprecedented, with contributions totaling about $132 million directed toward Trump’s campaign and related Republican efforts. Of that sum, $75 million flowed directly to Trump’s campaign through Musk’s America Political Action Committee (PAC), placing Musk, the world’s richest person, as one of the former president’s most influential allies. In his victory speech, Trump himself referred to Musk as a “new star” and a “super genius” who deserves protection, underscoring the billionaire’s crucial role.
However, it wasn’t just Musk’s financial investments that turned out to be significant. His social media platform, X, was transformed into a powerful megaphone for MAGA screenings. After the 2022 acquisition for $44 billion — a deal that drew skepticism from the likes of podcast host Joe Rogan, who called it a foolish move — Musk found new utility in the platform. “It wasn’t worth it in the first place,” Musk admitted during a Rogan podcast, suggesting that the platform’s cultural and political influence far outweighed its paper value. Under Musk’s ownership, X ramped up pro-Trump rhetoric, reinstated Trump’s suspended account and provided a platform for conspiracy theories and misinformation to spread unchecked, much to the concern of critics.
X’s role in shaping the campaign narrative
According to a Bloomberg report, X’s algorithm allegedly favored right-wing content, pushing pro-Trump posts to the fore. Musk himself was a key participant, using his account with over 200 million followers as a virtual campaign billboard for Trump. He retweeted content from Trump supporters, hosted live audio discussions about the election, and broadcast support for Trump’s policies, including those centered on divisive issues such as immigration. The Wall Street Journal described Musk’s X as a “much more powerful version of Truth Social”, noting its unique position as a platform for political influence.
“Was Musk’s full support the difference? Did X actually sway the national narrative — and voters — in Trump’s favor? We’ll never know, though Musk certainly believes it did,” the Bloomberg report said.

Musk’s gains from Trump’s presidency
According to the Bloomberg report, Trump’s re-election opens the door for Musk to reap significant rewards. Immediately following Trump’s victory, Tesla’s stock price rose 12%, adding an estimated $12 billion to Musk’s wealth, further solidifying his position as one of the world’s richest individuals. Investors appeared optimistic about potential regulatory rollbacks and favorable policies under Trump that could benefit Musk’s business empire, from Tesla’s electric vehicles to SpaceX’s space exploration projects.

Trump has even hinted at offering Musk a role in his administration as head of a proposed “Department of Government Efficiency,” which would align with Musk’s cost-cutting approach seen during his tenure at X. Such an appointment would place Musk in a position to directly influence policy, reduce regulatory scrutiny of his companies, and enable broader technological advances.
A new era for X and Musk’s influence
With Trump’s return to the White House, X is set to become a central player in the political landscape, with influence similar to its peak during Trump’s first term. Unlike in the past, Trump’s account will face minimal internal regulation, giving him free rein over his communications. Musk’s involvement suggests that the platform’s impact on culture and politics, which was previously difficult to quantify, has now proven to be a formidable force, the Bloomberg report added.
Musk’s strategy — turning a controversial $44 billion purchase into a platform that supported a presidential campaign — has redefined how tech moguls wield power in politics. While Musk’s plan may not have been clear at first, the result is clear: He managed to transform X into a central political tool that fundamentally changed the narrative surrounding his ownership of the platform and strengthened his influence over American politics for the foreseeable future.
This is what a fan account of Musk tweeted after Trump’s victory:

Challenges and risks ahead
Despite potential gains, there are challenges Musk must navigate with the Trump administration. Trump’s ambivalence toward electric vehicles and renewable energy—crucial to Tesla’s core business—presents a potential conflict. In addition, Trump’s historically aggressive trade policy with China could affect Tesla’s operations, as China represents a significant portion of the company’s market.
(With input from agencies)