Elon Musk has Major Midterm Election Plans

Elon Musk does not hide it: He will wield his media influence and financial power in the midterm elections in November and the race for the White House leading to November 2024. Tesla’s charismatic and whimsical chief executive has more than 103.3 million Twitter followers, giving him a massive platform and megaphone to sway public opinion and influence potential voters.

Musk has also pledged to personally spend $20 million to $25 million to support his favorite candidate in the presidential election. The serial entrepreneur’s fortune is estimated at $268 billion as of Aug. 15, according to the Bloomberg Billionaires Index. He is thus the only person whose fortune exceeds $200 billion. The net worth of Jeff Bezos, the world’s second richest man, is estimated at $167 billion in the same benchmark.

Musk Is Republican … for Now With these two powerful weapons — money and charisma — Musk has become increasingly political. But he also risks alienating buyers and would-be buyers of Tesla vehicles, who often live in and around major Democratic-Party-leaning cities. Indeed, the mogul recently let on that he will vote Republican in November, and he predicted a red wave in the midterm elections. “I voted for Mayra Flores – first time I ever voted Republican,” Musk posted on Twitter on June 15. “Massive red wave in 2022.”

The same day, the billionaire had indicated that he was leaning toward the Republican governor of Florida, Ron DeSantis, as the conservative candidate for the presidential election of 2024.

Criticized last month by former President Donald Trump, who has ambitions to run again, Musk reiterated his backing of DeSantis and urged the former president to retire from politics and give way to younger people. “Trump would be 82 at end of term, which is too old to be chief executive of anything, let alone the United States of America,” the tech titan responded on July 11. “If DeSantis runs against Biden in 2024, then DeSantis will easily win – he doesn’t even need to campaign.”

Musk as Guest Speaker at Republican Fundraiser The billionaire is about to make his real entry into the political arena. According to the New York Times, Musk on Aug. 16 will be the guest speaker at House Minority Leader Kevin McCarthy’s (R-California) traditional annual retreat in Wyoming. Warren Buffet, ‘The Oracle of Omaha” and CEO of Berkshire Hathaway, Inc. (BRK.A) – Get Berkshire Hathaway Inc. Report, might be one of the most legendary investors.

But, others come to mind, too. like Cathie Wood, chief executive of Ark Investment Management (ARK) the late John (Jack) Bogle, Founder of Vanguard Group, and Bill Ackman, Hedge Fund Manager at Pershing Square Capital Management.

Then, there are trading legends like Peter Schiff, the so-called prophet of doom who predicted the 2007 market crash and the recent bitcoin slump, billionaire George Soros, Paul Tudor Jones, a Hedge fund manager known for his macro trades, and Muriel Siebert, the first female trader at the NYSE. They all make stock picking look so easy. What do these and other notable investors and traders have in common? Well, for starters, they all have a long and successful stock-picking record. But, there are other winning traits, too.