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Waking up to the world S Elon Musk problem

The Straits Times

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October 26, 2024

While the world watches Trump, it's the tech tycoon whose influence may have greater global consequences.

- Bhavan Iaipragas

Waking up to the world S Elon Musk problem

By now, many are fed up with the endless predictions of what the Nov 5 US presidential election might bring.

Depending on which camp you listen to, doom and gloom will befall America should the other side win. It doesn't help that pollsters offer no clue with their "too close to call" predictions.

This week, Mr Larry Fink, chief executive of Black Rock, the world's largest asset manager, captured this fatigue perfectly when he said he was "tired of hearing this is the biggest election of your lifetime", adding that "over time, it doesn't matter".

But here's a prognostication that might still resonate: While the world fixates on Donald Trump and the upcoming election, it's Mr Elon Musk whose influence arguably extends even farther than the Republican nominee's - that we should be bracing ourselves for.

The world's richest man, now closely aligned with his political BFF, Trump, is the one whose growing power should truly concern us. Their bond seems to tighten as polling day draws near.

Mr Musk has been a constant presence in the race, most recently stirring controversy with his US$1 million (S$1.32 million) lottery- style giveaway to swing- state voters who sign his free-speech and gun-rights petition.

Adding to the tension, his political action committee (PAC) launched an online group on X on Oct 22, inviting users to report alleged voter fraud or irregularities - potentially turning the platform into a battleground for post-election disputes.

These moves make it clear Mr Musk is not just watching from the sidelines; he is fully in the thick of it. He s a Trump surrogate, a mega-donor - his PAC has already spent US$119 million this election - and an informal adviser, constantly stirring the pot online.

It begs the question: What does he hope to gain from his investment?

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