Donald Trump's side is often accompanied by an unexpected figure - Elon Musk. Not his No 2, JD Vance, nor his wife, Melania. Musk, a quarter-century younger and about $300bn heavier, joined Trump in Mar-a-Lago on the night of the election, celebrating the results. This week, they were in Texas, witnessing Musk's staff test-launch a spacecraft. During the campaign, Musk personally contributed $130m, gave speeches at rallies, and organized campaigns to "get out the vote". Last week, the world's richest man was chosen by the president-elect to lead a new "department of government efficiency", with Musk dubbing himself "First Buddy".
American Politics and Money
American politics has long been intertwined with money, like a vine around a trunk. Nearly 25 years ago, George W Bush humorously remarked at a swanky white-tie dinner, "Some people call you the elites; I call you my base." This is not limited to the right wing. In this month's election, more billionaires supported Kamala Harris. However, Trump's approach is different. He talks populist but acts plutocratic. According to renowned political scientists Jacob Hacker and Paul Pierson, he is "fixated on helping the wealthiest Americans". The $1.5tn of tax cuts in his first term led to a situation where, for the first time in history, billionaires paid a lower rate than the working class.The Republican Party and Oligarchs
The Republicans have always been associated with big business, but Trump is turning them into a playground for oligarchs. This autumn, Musk was the only Fortune 100 business boss to donate to the Republicans, while 42 company heads supported Bush in 2004. Trump's donors do not come from the big institutions of corporate America but are often from casinos, cryptocurrency, fossil fuels, and shadow banking.Business Leaders and Their Promises
Business leaders used to claim that their support for politicians was to ensure long-term stability and competent economic management. But this time, some seem to have received specific promises. In April, Trump convened a dinner for fossil-fuel executives and lobbyists and reportedly demanded they donate $1bn. In return, they would face fewer regulations on where they could drill. As one longtime handler of Republican donors told the New Yorker last month, "It's a whole different class. They want to get their issues into the White House and have someone take their calls instead of just a photo op and a grand dinner."Musk's Appointment and Its Implications
Musk's appointment to the "department of government efficiency" is both simple and complex. It is not a Washington job that burdens him with regulations around conflicts of interest. Instead, he will "provide advice and guidance from outside of government". This gives him unparalleled access without much responsibility, leaving the American public relying on Trump's personal ethics to safeguard their democracy. The question of what the world's richest man sees in the president-elect of the world's biggest superpower will continue to be asked, not only for Musk but for many wealthy supporters of America's next leader.