Elon Musk may be taking a step back from his full-time gig at the Trump administration’s Department of Government Efficiency. But his companies are still benefiting from the unprecedented relationship between the world’s richest man and the sitting US president.
That message was on full display in Saudi Arabia on Tuesday, where Musk was part of a program of meetings and conversations held with business leaders such as Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman at the Saudi-US Investment Forum.
But Musk, who has been referred to as Trump’s “first buddy,” held a special role in the conference.
The billionaire CEO was the speaker chosen to appear just before President Donald Trump and Saudi Crown Prince Mohammed Bin Salman gave their remarks. In conversation with Saudi Communications and Information Minister Abdullah Alswaha, Musk revealed new business deals he had just struck with the Saudi government.
“I’d also like to thank the kingdom for approving Starlink for maritime and aviation use,” Musk announced, referring to his satellite internet company.
Alswaha also hinted that Musk could bring Tesla’s robotaxis to the kingdom; the electric car maker just launched in Saudi Arabia in April. And Musk made sure to plug his other companies: the Boring Company, and xAI.
Musk’s remarks about bringing Starlink and Tesla to Saudi Arabia are just one example of how his proximity to Trump have put his companies on an even bigger global stage – and continue to do so. And even before Trump was elected last year, Musk’s businesses, especially SpaceX, benefited massively from government contracts.
SpaceX and Tesla did not immediately respond to requests for comments regarding the remarks made in Saudi Arabia.
When Tesla became the target of protests and vandalism earlier this year, Trump held what essentially amounted to a Tesla commercial on the White House grounds. Attorney General Pam Bondi showed how the administration was willing to not just promote Tesla, but also protect it, by threatening to throw anyone caught vandalizing or attacking a Tesla location with years in prison.
The Washington Post recently reported that some countries facing tariffs have struck Starlink deals since Trump took office – potentially seeing them as a way to bolster the relationship with the White House. Lesotho did so in hopes “hopes that licensing Starlink demonstrates goodwill and intent to welcome U.S. businesses,” according to State Department memos obtained by the Post.
Some federal regulatory investigations or restrictions on Musk’s companies have dropped off since Trump’s inauguration, NBC News recently documented, such as a Department of Justice case against SpaceX.
The New York Times has also reported that SpaceX is likely to reap the benefits of a boost in federal spending – and that Musk’s Boring company is in discussions with the government to help with a huge Amtrak project.
Musk’s proximity to Trump has also likely helped X, formerly Twitter, which he bought in 2022 for $44 billion. Major advertisers fled the platform after hate speech surged on the platform following Musk’s takeover. But X has become Musk’s megaphone and a platform of choice for the Trump administration, with some agencies exclusively using X for communication.
Musk says he’ll continue helping with DOGE, dipping in and out of Washington. But the benefits to his companies will likely endure with Trump in power.
