A flood of wildly critical tweets has left the Government struggling to deal with Elon Musk. But while his businesses prosper in the UK, it is the billionaire's status as Trump's 'First Buddy' that could prove No 10's biggest headache
A flood of wildly critical tweets has left the Government struggling to deal with Elon Musk.
And crucially, Musk at the same time unquestionably has the ear of tariff-loving Donald Trump after spending large amounts of time in the president-elect’s Mar-a-Lago luxury resort in Florida in recent weeks.
Since Trump’s victorious re-election campaign, to which Musk made a judicious £223m contribution, a spike in the share price of Tesla has seen the value of the car firm reach $1.4trn – almost triple the combined worth of its next four largest competitors. According to an estimate by the, Musk’s personal wealth has grown by $170bn since election day in November last year.
Given such heft, Musk, whose fortune is now almost twice that of his nearest competitor in the form of Amazon’s Jeff Bezos, unsurprisingly has a significant commercial presence in the UK. But experts also argue that, in terms of direct investment or influence over the UK economy, Musk’s muscle is limited.
“Instead of worrying about any effect on business, they should tell him to mind his own business. I suspect that would actually be politically popular and economically costless.”
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