Musk's "All-In": A $18 Million Political Gamble

Musk's "All-In": A $18 Million Political GambleFor Elon Musk, a man who constantly walks a tightrope, "All-In" is an art. During the Chinese New Year in 2018, Taobao became the first sponsor of the Spring Festival Gala, and announced the distribution of 1 billion yuan in cash red envelopes, randomly clearing 1,000 shopping carts

Musk's "All-In": A $18 Million Political Gamble

For Elon Musk, a man who constantly walks a tightrope, "All-In" is an art. During the Chinese New Year in 2018, Taobao became the first sponsor of the Spring Festival Gala, and announced the distribution of 1 billion yuan in cash red envelopes, randomly clearing 1,000 shopping carts. This sponsorship became a "national memory," and also allowed Jack Ma to witness the power of "red envelopes + lottery." Now, across the ocean, Elon Musk is bringing this tactic to the stage of the US presidential election.

In the 2024 presidential election, Musk declared "All-In" for Donald Trump. Not only did he cheer for Trump on social networks, but he also used money to support his campaign. In early October, Musk posted on X, formerly known as Twitter, stating that registered voters in Pennsylvania who signed the AmericaPAC petition before midnight on October 21st would receive a $100 bonus, while voters in other battleground states would receive $47. He also encouraged users to "refer a friend" and recommend a swing state voter to sign up for an additional $47.

"Giving away red envelopes" was just the beginning. Musk then upgraded his "gameplay." On October 19th, at Trump's campaign rally in Pennsylvania, he announced: from now until November 5th, the US election day, he will randomly give $1 million to a registered voter in Pennsylvania who signs the AmericaPAC petition every day. This is equivalent to giving each person an extra $1 million "lottery ticket." The event lasted for 18 days with a total prize pool of $18 million. On the day of the announcement, Musk drew the first lucky winner on-site, a white male wearing a red Trump cap.

Musk's goal is to attract 1 million registered voters in swing states by spending $47 million. Voters in key states such as Pennsylvania, Georgia, Nevada, Arizona, Michigan, Wisconsin, and North Carolina have become battlegrounds for both parties. Among them, Pennsylvania, with its 19 electoral votes, is the focal point of the contest, and both parties have invested the most campaign funds in the state.

"Red envelope acquisition" is Musk's forte. As early as the PayPal era, he used subsidies to quickly turn the company profitable. When this strategy is applied to elections, its power is even more astonishing. While $47 million in "red envelopes" may not be enough to attract all voters, $18 million in "lottery tickets" is undoubtedly tempting, as everyone dreams of getting rich overnight.

Musk's "gameplay" has also sparked controversy. The media and the Democratic Party have questioned Musk's actions as "election bribery." Under US federal law, it is a federal crime to pay someone to induce or reward them for voting or registering. However, Musk's legal team believes that this is not illegal, because the rewards are only for voters who sign the AmericaPAC petition, and these voters may not ultimately vote for Trump.

AmericaPAC is a Political Action Committee that advocates for the First and Second Amendments of the US Constitution, and its political agenda is highly aligned with Republican values. Musk has established this committee and donated $75 million to it, providing financial support for Trump's campaign, while collecting contact information of potential voters for more precise "user conversion."

Musk's direct use of "financial power" to interfere in the US election has reminded many of the drawbacks of US "money politics." The "revolving door" game rules prevalent in American politics is a typical manifestation of money politics. This means that US public officials and politicians shuttle back and forth between government and private companies, becoming tools for interest groups to manipulate government decisions.

For example, Eric Schmidt, former CEO of Google, began intervening in US politics in 2008 and provided financial support to Democratic candidates. After Biden took office, Schmidt served as chairman of the US National Security Commission on Artificial Intelligence, using his public office to secure government orders for his investment companies.

The "revolving door" phenomenon is not an isolated case. Reuters reported that tech giants like Google, Facebook, and Amazon spent $65 million lobbying the White House in 2020 to place "their own" in key positions to protect their interests.

Musk's "money-giving" behavior has ripped off the "fig leaf" of American money politics, exposing this unspoken rule completely. He is the world's richest man, but he is also a complete political novice. He cannot participate in the presidential election and lacks political roots in the United States, so he chooses to influence the outcome of the election with money.

Elon Musk and Donald Trump, two people who don't play by the rules, have come together. Musk's "All-In" is not a spur-of-the-moment decision, but stems from his support for Trump and his own concerns about his fate. In an interview, Musk revealed that he would face huge risks if Trump lost.

Musk's move may be a lament for the American political system, or it may be a sign of the future direction of politics. This presidential election will be an important observation point, allowing us to see how capital influences the political process and the future direction of "money politics."

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