The Trump-Musk Fallout

The Musk-Trump feud reveals how unchecked corporate power can hijack democracy, destabilise governance, and blur the lines between statecraft and spectacle

- AMAL CHANDRA

The increasing entanglement of corporate power in governance is reshaping modern democracies. With their vast financial resources and global influence, business magnates have long shaped policies and regulations. But in today's world, the boundaries between corporate leadership and political authority have blurred like never before. The recent public breakdown of the alliance between President Donald Trump and Elon Musk illustrates the inherent dangers of this fusion. Once political allies, their relationship imploded over federal spending, setting off a chain of threats, retaliations, and high-stakes economic risks.

This feud not only reveals the instability of state-corporate partnerships but also raises urgent questions about the resilience of democratic institutions when powerful private actors are allowed to become political players. Are we entering an era where unelected billionaires dictate national policy by capturing the state, or are these events simply part of a changing political economy? The answer will shape the future of democracy.

Historically, business leaders have exerted political influence, often behind closed doors. Titans like J.P. Morgan and Cornelius Vanderbilt shaped state decisions, while Henry Ford engaged with world leaders on industrial policy. Media barons like Silvio Berlusconi went a step further, converting corporate capital into political power. But today's landscape is distinct: the scale, immediacy, and global reach of corporate involvement in governance have dramatically expanded.