Tech billionaire Jeff Skoll criticized President Joe Biden on social media for snubbing Tesla, Elon Musk’s electric vehicle company, due to its lack of unionization. Skoll, a major donor to Biden’s election campaign, called on the president to stop persecuting entrepreneurs like Musk. Musk, who donated to a super political action committee supporting former President Donald Trump, thanked Skoll for his support in a response to the post, highlighting their longstanding friendship dating back to their early days in Silicon Valley.
The rift between Biden and Musk has been ongoing, with Musk previously expressing disappointment at not being invited to a White House summit on electric vehicles in 2021. Despite Biden’s administration’s goal of increasing the proportion of electric vehicles on the road to 50% by 2030, tensions between the two remain high. Biden has hinted at concerns regarding Musk’s relationships with other countries, including Saudi Arabia and China, and his administration has targeted Tesla with an ongoing Justice Department probe into its autonomous driving program.
Biden’s spokesman, James Singer, criticized Musk for his reported donation to Trump, labeling him as an “arrogant billionaire” out for himself. However, Tesla continues to dominate the domestic EV market, holding a market share of about 70% among U.S. automakers in the first quarter of 2024. Despite reports of political differences, Musk had publicly stated his support for Biden in the past, and even donated to Hillary Clinton in the 2016 election.
As the world’s richest man with a net worth of $249.8 billion, Musk remains a prominent figure in the electric vehicle industry. Analysts speculate on the potential impact of a Trump presidency on the industry, with potential demand slowdowns but a potential boost for Tesla due to proposed tariffs on Chinese electric vehicles from competitors like BYD and NIO. Skoll, who founded Participant Media to create socially conscious entertainment, has seen success in the film industry but closed shop this year due to profitability issues.
Overall, the relationship between Biden, Musk, and Skoll highlights the complex dynamics between politics, business, and personal relationships in the tech industry. As tensions continue to simmer, it remains to be seen how these key players will navigate their differences moving forward.
