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The stories that matter on money and politics in the race for the White House
Joe Biden’s campaign has hit out at Donald Trump as he tries to court Elon Musk and other megadonors, mocking the Republican presidential candidate as a “sucker” who is being used by billionaires seeking tax cuts.
The US president’s campaign also accused Trump of cutting deals with donors to help cover legal costs stemming from civil and criminal cases including his hush-money trial in New York, where a verdict is expected imminently.
“Despite what Donald Trump thinks, America is not for sale to billionaires, oil and gas executives, or even Elon Musk,” said Biden campaign spokesperson James Singer on Thursday.
“Trump is selling out America to pay his legal bills and put himself in power, while all billionaires like Elon see a sucker: they know if they cut him campaign checks, he’ll cut their taxes while he cuts Social Security and other benefits for the middle class.”
The comments from the Biden camp mark the latest effort by Democrats to depict Trump as a candidate in hock to fossil-fuel executives and right-wing billionaires, and as one who will draw Silicon Valley bosses such as Musk into an increasingly bitter presidential race.
Trump held fundraisers with oil and gas chiefs including shale tycoon Harold Hamm and Occidental Petroleum’s Vicki Hollub earlier this month. He will head to California for fundraisers with deep-pocketed supporters next month.
While Biden still leads the money race, Trump is gaining donors on Wall Street. In Silicon Valley, long considered a liberal oasis, some libertarian donors are also warming to Trump as they fret over issues such as free speech, technology regulation and taxes.
Musk, who previously supported Biden, has become increasingly critical of the president to his 185mn followers on X, the social media platform he owns, targeting his immigration policies and mental acuity.
“Biden obviously barely knows what’s going on. He is just a tragic front for a far-left political machine,” the Tesla and SpaceX chief wrote on the platform last month.
Singer said Biden “has been standing up to people like Elon” his entire political career.
The Biden campaign comments also come a day after the Wall Street Journal reported that Trump could appoint Musk to an advisory role in his administration if he were to win in November. Musk has also briefed Trump on a data project to prevent voter fraud, according to the report.
In April, Musk held an anti-Biden dinner in Hollywood alongside venture capitalist David Sacks, with a guest list that included entrepreneur Peter Thiel, according to a person familiar with the matter.
Biden has also been criticised by Sacks, who is close to Musk, and fellow Silicon Valley investor Marc Andreessen. Sacks is hosting a San Francisco fundraiser for Trump on June 6, ahead of another fundraiser by Palmer Luckey, founder of defence group Anduril and Oculus VR, in Newport Beach, California.
Musk did not immediately respond to a request for comment.
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