The world’s richest person has a lot riding on the outcome of the US election.
When Elon Musk made his “dark gothic MAGA” appearance on stage at Donald Trump’s controversial Madison Square Garden event this week it may have, indeed should have, caused some Tesla shareholders to wince.
Tesla’s big exposures within China make it vulnerable to any government or Chinese consumer backlash in response to a full-on trade war with the US. His shareholders might also be wondering why, given he already oversees six significant companies, he is so enthusiastic about heading up a government efficiency commission if Trump wins.
While Trump has said he could cut spending by “impounding” funding approved by Congress – refusing to spend the funds – there are legal constraints on his ability to do so and, in any event, there would be a revolt from both of the major parties if the flows of approved spending within their electorates were to be cut heavily.
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