Elon Musk publicly supported Donald Trump starting in 2024, notably endorsing Trump right after an assassination attempt on the president. Musk portrayed Trump as a champion of free speech and the only candidate capable of preserving democracy, criticizing Democrats for threatening voting and other rights. Musk invested heavily in Trump's 2024 campaign, donating approximately $277 million, making him the largest individual donor to Trump and allied Republicans that cycle. Musk's support appears motivated by shared political views on free speech, government spending, and immigration, as well as a strategic interest in influencing U.S. political and regulatory environments favorable to his business empire. However, the alliance has experienced ups and downs, with public disputes erupting in 2025 between Musk and Trump.

In summary, Elon Musk supported Trump due to aligned political interests and as a calculated effort to back a candidate Musk viewed as pivotal for the future of American governance and economic policy, notably around deregulation and spending cuts, which impact Musk’s businesses.