Anamika Dey, editor
Brief news
- Mark Cuban advised Elon Musk against aligning with Donald Trump, warning that Trump’s loyalty is self-serving and may not benefit Musk in the long run.
- Musk’s support for Trump marks a shift from his previous criticism of the former president.
- Cuban is advocating for Vice President Kamala Harris and considering a role at the SEC, while Musk seeks to lead a government efficiency panel if Trump is re-elected.
Detailed news
On Sunday, billionaire businessman Mark Cuban advised Tesla CEO Elon Musk not to team up with former President Donald Trump. According to Cuban, the Republican nominee for president may not be able to pay back his political obligations in the end.
“Elon, a moment will arise when you require assistance from Donald Trump,” Cuban said in an X post directed at his fellow billionaire. You will believe that you’ve merited the entitlement to seek out and obtain. You have been a faithful and committed soldier for him.
“At the moment you require him the most,” Cuban added. “You will discover and realize: Trump loyalty is solely to himself.”
Cuban’s comment was prompted by a prior post by Musk on X, wherein the SpaceX CEO propagated many conspiracy theories suggesting that Democrats are promoting immigration into battleground states as an infallible strategy to secure electoral victories.
Musk stated, “If Trump is not elected, this will be the final election.”
Musk’s backing of Trump is a significant change from 2022, when he publicly disparaged the previous president on social media.
Cuban’s admonition to Musk, as a fellow billionaire, suggested the underlying attempt of affluent political backers to secure state favor by aligning themselves with a presidential candidate.
The two billionaires are on conflicting sides of the presidential contest this election year. However, both corporate leaders are focused on achieving a degree of regulatory oversight.
Cuban posits that Trump may not fulfill that trade for Musk.
Cuban has emerged as a vocal advocate for Vice President Kamala Harris and her economic initiatives. In recent weeks, he has consistently advocated for Harris as “more advantageous for business,” despite some doubts over her proposal to increase corporate tax rates.
As Cuban intensifies his public endorsement, he is concurrently monitoring a prospective employment opportunity at the Securities and Exchange Commission.
“I instructed her team to submit my name for the SEC; it requires reform,” Cuban stated on CNBC’s “Squawk Box” earlier this month.
Concurrently, Musk is pursuing a new position for himself. Musk has consistently proposed the establishment of a government efficiency panel to address federal expenditure should Trump get a second term in the presidency. He has volunteered to lead such an agency.
Earlier this month, Trump praised the concept of a government efficiency commission and proposed that Musk may be an appropriate leader for it.
The Republican nominee said that Musk, a preoccupied CEO of several enterprises, may lack the time for the position, but may serve in a consultative capacity.
Source : CNBC News
