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

Tesla boss Elon Musk's vocal support for Donald Trump during the 2024 presidential campaign marked a significant turning point in the billionaire's political development, which appears to have played a crucial role in Trump's subsequent electoral success. Musk, once considered a liberal, leveraged both his financial strength and the power of his social media platform X (formerly Twitter) to amplify Trump's campaign message by embracing Trump's Make America Great Again (MAGA) agenda .
Musk's financial contributions and strategic influence
Musk's financial support for Trump during the 2024 campaign was unprecedented. The donations reportedly totaled about $132 million, intended for Trump's campaign and related Republican efforts. Of that sum, $75 million went directly to Trump's campaign through Musk's America Political Action Committee (PAC), positioning Musk, the world's richest person, as one of the former president's most influential allies. In his victory speech, Trump himself called Musk a “new star” and a “super genius” who deserves protection, underscoring the billionaire's central role.
However, it wasn't just Musk's financial investments that proved significant. His social media platform X has been transformed into a powerful megaphone for MAGA views. After acquiring it in 2022 for $44 billion — a deal that drew skepticism from podcast host Joe Rogan, who called it a dumb move — Musk found new utility in the platform. “It wasn’t worth it at all,” Musk admitted during a Rogan podcast, suggesting that the platform’s cultural and political influence far outweighs its paper value. Under Musk's leadership,
X's role in shaping the campaign narrative
According to a Bloomberg report, the algorithm favored Musk himself being a key participant, using his account with over 200 million followers as a virtual campaign poster for Trump. He reshared content from Trump supporters, hosted live audio discussions about the election and posted endorsements of Trump's policies, including those focused on contentious issues such as immigration. The Wall Street Journal described Musk's X as a “much more powerful version of Truth Social,” citing its unique position as a platform for political influence.
“Was Musk’s unwavering support the difference? Did X actually push the national narrative – and voters – in favor of Trump? We will never know, although Musk certainly believes this was the case,” the Bloomberg report said.

Musk's profits from Trump's presidency
According to the Bloomberg report, Trump's re-election opens the door to significant gains for Musk. Immediately after Trump's victory, Tesla's stock price rose 12%, adding an estimated $12 billion to Musk's fortune and further solidifying his position as one of the richest people in the world. Investors expressed optimism 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 planned “Department of Government Efficiency,” which would be consistent with Musk's cost-cutting approach during his tenure at X. Such an appointment would enable Musk 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, Unlike before, Trump's account will be subject to minimal internal regulation, giving him free rein to shape his communications. Musk's involvement suggests that the platform's influence on culture and politics, 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 supports a presidential campaign — has redefined the way tech moguls wield power in politics. While Musk's plan may not have been obvious at the outset, the result is clear: he managed to turn time consolidated.
This is what a Musk fan account tweeted after Trump's victory:

Challenges and risks ahead
Despite potential gains, there are challenges Musk must overcome with the Trump administration. Trump's ambivalent stance toward electric vehicles and renewable energy – which are critical to Tesla's core business – presents a potential conflict. Additionally, Trump's historically aggressive trade policies toward China could impact Tesla's operations, as China accounts for a significant portion of the company's market makes up.
(With contributions from agencies)