The FINANCIAL – As the sun rises on a new era of American governance under President Donald Trump’s second term, one figure looms larger than ever in the political and economic landscape: Elon Musk. The billionaire entrepreneur, whose net worth exceeds $400 billion according to Bloomberg’s Billionaires Index, has emerged as a pivotal influence in Trump’s administration. Appointed to lead the Department of Government Efficiency (DOGE), Musk’s unprecedented role offers him a unique opportunity to shape federal policy in ways that could significantly boost his personal wealth. This article explores how Musk’s sway over Trump may amplify his fortune through U.S. government contracts and examines the intriguing intersection of his personal interests with the ongoing war in Ukraine.
Musk’s Ascendancy in Trump’s Inner Circle
Elon Musk’s journey from a tech mogul to a political powerhouse has been swift and dramatic. During the 2024 presidential campaign, Musk donated over $132 million to Trump’s efforts, including $75 million to the America PAC, as reported by the Federal Election Commission. His social media platform X became a megaphone for Trump’s MAGA agenda, amplifying hardline views to its 200 million users. Since Trump’s inauguration on January 20, 2025, Musk has been a near-constant presence at Mar-a-Lago and the White House, advising on everything from staffing decisions to foreign policy. This proximity has culminated in his leadership of DOGE, a body tasked with slashing federal spending and bureaucracy—an endeavor that aligns closely with Musk’s business interests.
The New York Times reports that Musk’s companies, notably Tesla and SpaceX, have secured at least $18 billion in federal contracts over the past decade, with SpaceX alone netting $17 billion since 2015. Under the Biden administration, SpaceX’s contracts surged from $1.1 billion in fiscal year 2020 to $3.7 billion in 2024. Now, with Musk wielding influence over Trump’s administration, analysts predict a further windfall as he shapes policies to favor his enterprises.
Government Contracts: A Lucrative Horizon
Musk’s companies are deeply entwined with the U.S. government, particularly through SpaceX, which dominates the aerospace sector. NASA relies on SpaceX to ferry astronauts to the International Space Station, a dependency underscored by a $3 billion contract to develop a lunar landing vehicle, according to CNN Business. The Department of Defense (DoD) has also awarded SpaceX billions in classified contracts for satellite launches, with estimates suggesting annual revenues in the billions, though exact figures remain undisclosed due to national security classifications.
Under Trump’s first term, the creation of the U.S. Space Force in 2019 opened new avenues for SpaceX. In October 2024, the Space Force granted SpaceX a $733.6 million contract for launches, per The New Yorker. With Trump’s renewed focus on space exploration—evidenced by his pledge to support Musk’s Mars ambitions—SpaceX stands to gain even more. Analysts at Morgan Stanley project that increased NASA and DoD funding could propel SpaceX’s valuation from $350 billion to over $500 billion within five years, translating to a potential $50 billion increase in Musk’s personal wealth, given his majority stake.
Tesla, meanwhile, could benefit indirectly from Musk’s influence. While its direct government contracts are modest—such as a $465 million loan from the Department of Energy in 2010 that was repaid with interest—regulatory relief could be a game-changer. Tesla faces ongoing investigations from agencies like the National Highway Traffic Safety Administration (NHTSA) over its self-driving technology. Musk’s push to dismantle regulatory “red tape” through DOGE could halt such probes, saving Tesla millions in legal costs and fines. Moreover, Trump’s proposed elimination of the $7,500 electric vehicle tax credit, which Musk supports, would disproportionately harm competitors like Ford and GM, potentially increasing Tesla’s market share from 50% to 60% of the U.S. EV market, per Reuters estimates. This could boost Tesla’s stock price by 20%, adding roughly $40 billion to Musk’s fortune, based on its current $1 trillion valuation.
Musk’s lesser-known ventures, like Neuralink and The Boring Company, may also tap into government largesse. Neuralink’s brain-implant technology could secure DoD contracts for military applications, while The Boring Company’s infrastructure projects might benefit from Trump’s promised $1 trillion infrastructure plan, though specifics remain vague.
Expected Profits: A Billion-Dollar Boost
Quantifying Musk’s potential profits requires peering into a speculative yet plausible future. If SpaceX secures an additional $5 billion in contracts annually under Trump—a conservative estimate given its current trajectory—Musk’s 54% ownership could yield him $2.7 billion in personal gains each year, assuming a 10% profit margin typical of aerospace firms. Tesla’s regulatory wins could add $10 billion to its valuation annually, translating to $5 billion for Musk based on his 13% stake. Combined, these projections suggest an annual wealth increase of $7-10 billion, potentially pushing Musk’s net worth past $500 billion by 2030, outpacing rivals like Jeff Bezos by a wide margin.
However, risks loom. Trump’s recent tariffs on imports from China, Canada, and Mexico, implemented in early 2025, have dented Tesla’s stock by 5.2%, per Newsweek, due to supply chain disruptions. SpaceX’s reliance on imported components could similarly erode margins. Yet, Musk’s influence may mitigate these losses by securing exemptions or subsidies, a privilege few competitors can claim.
Musk’s Personal Interests and the War in Ukraine
Beyond financial gain, Musk’s influence on Trump intersects with his personal interests, notably his stance on the war in Ukraine. SpaceX’s Starlink satellite network has been a lifeline for Ukraine since Russia’s 2022 invasion, providing internet access to its military and civilians. By November 2024, Starlink had deployed over 50,000 terminals in Ukraine, per SpaceX data, with the Pentagon reimbursing SpaceX $23 million for initial costs, according to Reuters.
Yet, Musk’s relationship with Ukraine is complex. In 2022, he proposed a peace plan on X, suggesting Ukraine cede Crimea and border regions to Russia—a stance aligning with Kremlin rhetoric and drawing ire from Ukrainian President Volodymyr Zelensky. This position reportedly stems from Musk’s frustration with government bureaucracy during the COVID-19 pandemic and his admiration for anti-regulation leaders, trends noted by Al Jazeera. His presence on a November 2024 call between Trump and Zelensky, reported by PBS News, underscores his influence on U.S. foreign policy.
Musk’s motives may blend ideology with profit. A Trump administration favoring reduced aid to Ukraine—30% of Americans support this, per a February 2025 Economist/YouGov poll—could shift Pentagon priorities toward SpaceX’s domestic projects, like Starlink expansion in rural America, where the FCC once awarded $900 million (later rescinded). If restored, this could net SpaceX $100 million annually in revenue, boosting Musk’s wealth while aligning with his vision of technological self-reliance.
Critics, including Senator Elizabeth Warren, warn of conflicts of interest, per The Guardian. Musk’s ability to weaken agencies like the Consumer Financial Protection Bureau, which has probed Tesla, while securing contracts for SpaceX, raises ethical red flags. His reported talks with Vladimir Putin, noted by NBC News, further complicate his Ukraine stance, suggesting a geopolitical tightrope that could prioritize business over democratic values.
A New Gilded Age?
Elon Musk’s influence on Donald Trump heralds a potential new Gilded Age, where a single tycoon’s wealth and power shape national policy. With billions in government contracts on the horizon and a voice in Trump’s ear, Musk stands to amass unprecedented riches—potentially $10 billion annually—while steering America’s technological and foreign policy future. His personal interests, from Mars colonization to Ukraine’s fate, intertwine with these gains, painting a portrait of a man whose ambitions transcend mere profit. Yet, as his sway grows, so do questions of accountability, leaving observers to wonder: will Musk’s legacy be one of innovation or unchecked influence? Only time will tell, but for now, the world’s richest man is poised to get richer still.
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